The PRA’s new supervisory statement extends banks’ model risk management obligations “across all models” - not just capital and stress testing. What steps must banks take to comply? Despite last ...

Every big bank has a risk management team whose job it is to keep the banks out of trouble. The teams use complex computers to guide the banks away from financial danger. But as the global credit ...

Strong AI governance is the operational infrastructure that enables banks and lenders to deploy AI responsibly while managing ...

Regulators around the world differ in their approach to model risk management (MRM) regulation – including their definitions of what a model is. While some are more prescriptive, others such as the UK ...

Newest addition to Experian Assistant product family allows financial institutions to document, validate and monitor models with speed, transparency and audit-readiness “Manual documentation, siloed ...

Modern model risk management startup Ethos AI Inc. announced today that it has raised $6 million in new funding to expand its engineering team, enhance its go-to-market efforts and strengthen its ...

UK Finance has recently spotlighted a critical evolution in how institutions manage detection tools. The organization also shared other insights.

As banks race to adopt artificial intelligence, a debate is raging within the industry over how AI risks should be managed. Banks generally fall into one of two camps: those that treat AI as a model ...

In the dynamic landscape of decentralized finance (DeFi), risk management is the bedrock upon which sustainable lending protocols are built. The challenge lies in finding the delicate balance between ...