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Validating operational risk models

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EVMTech’s operational risk advisory team supports financial institutions with development of Basel II and Solvency II compliant operational risk management and measurement frameworks. Our extensive experience combined with our know-how and research makes us a unique partner in developing proven and industry-leading solutions.

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While CCAR operational loss projections seems to many bank executives more art than science, the Fed emphasizes use of a highly disciplined compliance framework with documenting model development, implementation, validation, governance and proper controls of the data gathering and process.Our software implementations are custom and reflect the specific modeling needs of our clients.Using our platform Risk# or our Risk Libraries, we are in a position to efficiently implement advanced and custom capital models.Over the last few decades we have seen the use of quantitative risk models become a cornerstone of financial regulation.Financial institutions now have to determine capital buffers based on increasingly complex modelling techniques.In addition to focussing on the existence of appropriate policies, procedures, guidelines and standards, it is expected that the independent review function also considers data quality, data completeness and the degree to which risk-related data can be verified and reconciled to day-to-day transactional, accounting and business data.

In particular, the two aspects of model implementation and use test should be assessed (Scandizzo, 2007).

Foods for which nutrient content claims and health claims are made meet the compositional requirements of the Food and Drug Regulations.

Products comply with food standards where they exist.

There are numerous validation tools available, and the course will individually describe these tools and their application in practice.

1 AMA model developer in UK, leading AMA advisory firm in North America.

Our software solutions have been extensively tested and optimized for performance to meet modeling and sensitivity analysis requirements of our clients.