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Model Risk Management Services
Anticipate, analyze and avoid model risks
Deloitte offers end-to-end model risk management framework implementation from model planning, model development, model validation and on-going monitoring. We design customized MRM frameworks for our clients consisting of model risk governance and policy, model development and validation standards, model inventory/ tiering and model risk appetite to manage model risk across model lifecycle.
We support our clients in managing model risk through supporting front-line business units and support functions in model development and support the second line of defense in providing effective oversight and validation on models under their purview by performing independent validation or providing automated model monitoring solutions.
Powered by growing technological advancements, regulatory requirements and innovative product designs, banks and financial institutions (FIs) have been increasing the use of models in all critical aspects of the decision-making process. Deeply integrated in business processes, growing in scope and complexity, models have become the main source of quantitative, predictive data and information.
With the increased dependence on complex models for underwriting, portfolio management or regulatory capital calculations, model risk is emerging as a prominent type of risk in its own right.
Mitigation of model risk requires effective and robust implementation of model risk management (MRM) framework that involves defining ownership, describing roles and responsibilities and enabling various stakeholders to work together in a synchronized manner to identify, assess and manage model risk.
How Deloitte can help
Our Model Risk Management services enable our clients to lead in their industry, navigate risk and opportunities, and disrupt the status quo.
Our model risk management services include:
- Setting up model risk management framework including Model risk strategy, governance, audit and controls
- Model development, documentation and use
- Model validation
- Model risk assessment services
- Model monitoring and automation