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Erschienen in:
2017 | OriginalPaper | Buchkapitel
Model Risk Management Under the Current Environment
verfasst von : Dong (Tony) Yang
Erschienen in: Commercial Banking Risk Management
Verlag: Palgrave Macmillan US
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Abstract
In this chapter is provided a detailed discussion about the definitions of model, model risk, and model risk management, as are commonly understood, interpreted, and applied by market practitioners after the financial crisis. An overview of model risk management is discussed, including the typical model risk management organizational structure, as well as some of the challenges frequently encountered in the industry. Moreover, a specific discussion about the model risk management framework and approach is presented.