Model Risk Management Virtual Training

Model Risk Management Virtual Training
Attend one, multiple, or the full five-session series to gain the understanding and full picture overview needed for establishing a robust and efficient Model Risk Management framework. Five + One Bonus session.  90-minute virtual lessons are released each Tuesday, May 28-June 25, 2019. Available 24/7.  Now includes a bonus session during week five--AI in Risk Management!

 

Register for Full Series

Register for an individual session in the table below.

About this Training

Presented By: Peter Plochan 
Delivery:
Virtual Training
Date:
Tuesdays, May 28-June 25, 2019
Session Length: 90 minutes

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. On the other hand, the recent industry & technology developments in the Artificial Intelligence & digitalization areas push banks to build new models and more complex ones in order to streamline and automate their decisions. This requires banks to put an extra compliance and governance effort into management of their models and of the model risk embedded there. In parallel, on the other front, trends such as Big Data, Internet of Things, but also new regulations such as IFRS 9 and FRTB are even pushing banks to develop additional models, which will have to be managed properly as well.
 
In order to address the above, financial institutions around the world are increasingly looking for skilled Model Risk Management professionals to tackle these challenges. A number of leading firms have already established dedicated Model Risk Management units with a clear task to get the Model Risk under control. 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 & Appetite, analysis of Model Risk Concentrations & Exposure, etc.
 
Bonus Session! New content available June 25. Join Peter as he discusses the two sides of the Artificial Intelligence in Risk Management. Learn how to balance the AI benefits with managing of the AI risks. 

Peter will:
• Discuss the latest regulatory & industry developments in the area Artificial Intelligence and Risk Management
• Explore the main benefits & challenge identified in the recent AI in Risk survey
• Zoom into the Model Risk Management perspective on AI and Risk
• Provide a number of potential cures that can be used to mitigate the risks introduced by AI
 

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.

How It Works 

Each week, the pre-recorded lectures and materials will be launched. You will have an opportunity to interact with your classmates as well as submit questions to the instructor. Questions must be submitted during the course period (Tuesday - Monday).  You may access the online training and handouts for a one-year period.  

Topics in This Training

  • Week 1, May 28, 2019: Introduction to Model Risk Management (MRM)
  • Week 2, June 4, 2019: Setting Up the MRM Framework across the Modeling Lifecycle
  • Week 3, June 11, 2019: Establishing Model Inventory and Model Governance
  • Week 4, June 18, 2019: Measuring the Model Risk & Model Validation
  • Week 5, June 25, 2019: Successfully Rolling Out and Embedding the MRM Framework
  • Bonus Session--New Content!  Available the week of June 25! 
  • The two sides of Artificial Intelligence in Risk Management: How to balance the AI benefits with managing of the AI risks

    View Session Descriptions


Registration

Registration Options
Course Member Pricing Registration Link
All Five-Sessions + Bonus Session $500 - Non Member
$450 - Contributing
$400 - Sustaining/ RIM
Register Full Course
Week 1: Introduction to Model Risk Management (MRM) $109 - Non Member
$99 - Contributing 
$89 - Sustaining/ RIM
Register Lesson 1
Week 2: Setting up MRM framework across the Modelling Lifecycle $109 - Non Member
$99 - Contributing 
$89 - Sustaining/ RIM
Register Lesson 2
Week 3: Establishing Model Inventory and Model Governance $109 - Non Member
$99 - Contributing 
$89 - Sustaining/ RIM
Register Lesson 3
Week 4: Measuring the Model Risk & Model Validation $109 - Non Member
$99 - Contributing 
$89 - Sustaining/ RIM
Register Lesson 4
Week 5: Successfully rolling out and embedding the MRM Framework 
+ Bonus Session! 
$109 - Non Member
$99 - Contributing 
$89 - Sustaining/ RIM
Register Lesson 5

About Our Expert

Peter Plochan is Principal Risk Management Advisor at SAS Institute assisting institutions in dealing with their challenges around finance and risk regulations, enterprise risk management, risk governance, risk analysis and modelling. Peter has a finance background (Master’s degree in Banking) and is certified Financial Risk Manager (FRM) with 10 years of experience in risk management in financial sector. He has assisted various banking and insurance institutions with large-scale risk management implementations (Basel II, Solvency II while working internally and also externally as a risk management advisor (PwC).


Continuing Risk Learning Credits: 9
PRMIA Continuing 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 learning@prmia.org.

 

Register for Full Series

 
When
5/28/2019 - 6/25/2019
Where
Virtual Training
 

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