COVID-19 has challenged the robustness of banks’ model risk management and EUC policies. In a context where market behaviors are uncertain and changing rapidly, banks need to adapt their approach to model risk management in order to keep business running as usual, whilst maintaining the quality of their pre-pandemic controls.
In Europe, the US Federal Reserve (FED) and the US Office of the Comptroller of the Currency (OCC)’s Supervisory Guidance on Model Risk Management (SR 11-7) is accepted as the global standard for the application of model risk management (MRM).
In Europe, the US Federal Reserve (FED) and the US Office of the Comptroller of the Currency (OCC)’s Supervisory Guidance on Model Risk Management (SR 11-7) is accepted as the global standard for the application of model risk management (MRM).
From the mid-1980s to the mid-1990s, corporate and investment banks were a tremendous engine of technology innovation.
Banks are one of the greatest engines for generating data: daily, they collectively produce petabytes of transactions, prices, risk metrics, customer information….
The one area where digitalisation within the corporate and investment banking industry has been taking place for the longest is within the realm of e-commerce.
A digitalised corporate and investment bank is erected on four distinct and complementary pillars.
“Corporate culture” refers to the beliefs and norms that determine how a company’s employees and management behave when conducting business interactions and transactions.
