Banks need MRM systems and processes that are flexible and adaptable to meet the demands of regulators and business decision makers who need to understand the models supporting business decisions.
Today, the discipline of Model Risk Management (MRM) has become more formalised and rigorous, driving the need for enterprise-level model information management systems. For banks, the need for MRM goes far beyond compliance. Enterprise data needs to be effectively used with access to trusted, quality models to drive better decision making and business results.
The Future of Model Risk Management for Financial Services Firms covers the five essential features of MRM Technology that can help banks effectively address the challenges ahead.