7 Key Components of a Sound Model Governance Framework

In this October 2015 installment of the Risk Insight Monthly Video & Blog Series, Rad Lukic, Director, Risk Solutions, S&P Capital IQ, applies the valuable knowledge he has gained while working directly with our clients at banks and other financial institutions, as he discusses the 7 best practices for a sound model governance framework:

1. Development
2. Implementation
3. Validation
4. Approval: Model Governance Roles & Teams
5. Modification: On-going performance and risk monitoring
6. Model Retirement
7. Model Inventory