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 a round table discussion, GreySpark addressed these challenges in partnership with Mitratech. The session covered the following topics:
- Where do models end and EUCs begin?
- What has been the impact of COVID-19 on model risk?
To find out more about GreySpark’s services to support Model Risk Management please click here.