Effective Documentation in Model Risk Management

Submitted on 7th September 2017

One of the critical elements in effective model risk management is the development and maintenance of documentation that is responsive to the needs of those charged with implementing and maintaining model integrity. Effective documentation includes a general description of the model. The general description should be of such a nature as to provide a high-level understanding of how the model fits the enterprise’s business, of the risks inherent in the model and of the controls implemented to address these risks.

Length of Resource
5 pages
Bob Crompton
Date Published
Publication Type
Resource Type