Enterprise Model Risk Management
REVISED & UPDATED! Join us for our popular course on Enterprise Model Risk Management. This five-part virtual course will guide you and your team through the key concepts required for a robust Model Risk Management program. Bonus lesson included--AI & MRM in volatile times of Covid 19 and Climate Change.
Presented by:
Peter Plochan, Principal Risk Management Advisor, SAS Institute
Session Length:
5 Weekly Lessons
90 minutes each
Two, 45-minute lessons weekly
+ Bonus Lesson in Week 5!
Course Period: November 3 -
December 8, 2020
Lessons Launch: Each Tuesday beginning November 3, 2020
Instructor Access: November 3 - December 15, 2020
Time:
Self-paced
| About This Course |
|
Financial institutions have been relying on models to support their decision-making for decades; therefore, managing the life cycle of models and model risk management are not new topics. In recent times, however, the discipline of model risk management has become more formalized and rigorous, partly as a response to the increasing regulatory scrutiny being applied to their models, with US and European banking regulators leading the charge. Lastly the recent turbulent and volatile time have put the models and model governance process under pressure.
On the other hand, the recent industry and technology developments in the Artificial Intelligence and digitalization areas push banks to build new models and more complex ones in order to streamline and automate their decisions. Covid 19 and Climate change expose financial institutions and their models build on traditional historical data to new challenges. All this requires companies to put an extra compliance and governance effort into management of their models and of the model risk embedded there.
In order to address the above, financial institutions around the world are increasingly looking for skilled Model Risk Management professionals to tackle these challenges. Enterprise Model Risk Management function is no longer a nice to have, it is a must. Managing model risk requires a broader perspective and should not rely solely on Model Validation activities, which is the more traditional approach, but involve tools such as Model Governance, Model Risk Profile and Appetite, analysis of Model Risk Concentrations and Exposure, etc.
Bonus Lesson! Join Peter as he discusses the latest trends in AI & MRM in volatile times of Covid 19 and Climate change.
|
|
| Agenda |
| Week |
|
Topic |
Week 1
|
|
Introduction to Model Risk Management
During this first lesson, we set the scene by defining the key terms and provide general background. We introduce the key concepts and aspects relevant for Model Risk Management, which we will explore further in the subsequent lessons.
|
Week 2
|
|
Setting Up the MRM Framework Across the Modeling Life-Cycle
During this lesson, we cover stage-by-stage the entire modelling lifecycle while pointing out at each stage the key activities and typical areas of concern. We discuss the role of MRM framework components across these stages.
|
Week 3
|
|
Establishing Model Governance, Model Inventory & Validation Processes
During this lesson, we zoom into the governance aspects of the MRM framework, discussing in details the objectives and benefits of Model Governance and Model Inventory and model validation. We will discuss also examples from the industry.
|
| Week 4 |
|
Measuring the Model Risk & Impact of AI on MRM
During this lesson, we zoom into the more QUANTITATIVE aspects of the MRM framework, discussing in details the objectives and benefits of Model Risk Measurement. We will also explore the relation between AI models and MRM and Model Validation. We will discuss also examples from the industry. |
Week 5 &
Bonus Lesson |
|
MRM Technology Trends, Successful Roll-Out, & Embedding of the MRM Framework
During this last lesson, we wrap up the course with discussing the role that MRM systems and MRM reporting play in integration and cooperation of the components of MRM framework. We will go through the success factors, provide practical tips, and share MRM experiences from large banks in the industry.
Bonus Lesson: AI & MRM in Volatile Times of Covid 19 and Climate Change (approximately, 45 minutes) |
| Who Should Attend |
Enterprise Risk Managers, Model Risk Management Professionals, Model Developers, Model Validators, Operational Risk Managers, Risk Governance professionals, Risk Management Consultants, Auditors, Regulators, Data Scientists, Artificial Intelligence specialists.
|
| About Our Expert |
|
|
|
 |
|
Peter Plochan is the EMEA Principal Risk Management Advisor at SAS. He helps financial institutions deal with their challenges around finance and risk regulations, enterprise risk management, risk governance, forward-looking risk analysis, stress testing, model risk management, risk modelling, as well as climate change risk management.
Peter has a finance background, a Master’s degree in Banking and is a certified Financial Risk Manager (FRM) with 14 years of experience in risk management in the financial sector. He has assisted various banking and insurance institutions with large-scale risk management implementations while working both internally and externally as a risk management advisor (PwC).
Since joining SAS in 2014, Peter has served as a global acting domain expert - leveraging the latest trends in risk analytics and technology with his deep risk management and finance expertise.
Peter is also a Risk Management instructor for PRMIA where he develops and delivers virtual learning courses on Model Risk Management and ERM & Stress Testing for the global risk community. Peter regularly speaks and presents at risk events, webinars, and publishes risk management thought leadership materials.
|
| Continued Risk Learning Credits: 12 |
PRMIA Continued Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].
| Registration |
| Membership Type |
Price |
| |
|
| Sustaining, Corporate, Contributing and RIM Members |
$499.00 |
| Non Member |
$599.00 |
If this is your first time accessing the PRMIA website you will need to create a short user profile to register. Save on registration by becoming a member.
Register Now!