Abstract
In this chapter is provided a detailed discussion about the definitions of model, model risk, and model risk management, as are commonly understood, interpreted, and applied by market practitioners after the financial crisis. An overview of model risk management is discussed, including the typical model risk management organizational structure, as well as some of the challenges frequently encountered in the industry. Moreover, a specific discussion about the model risk management framework and approach is presented.
The views expressed in this document are the author’s and do not reflect his employer’s opinion or recommendations.
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Yang, D.(. (2017). Model Risk Management Under the Current Environment. In: Tian, W. (eds) Commercial Banking Risk Management. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-59442-6_9
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DOI: https://doi.org/10.1057/978-1-137-59442-6_9
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Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-137-59441-9
Online ISBN: 978-1-137-59442-6
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