Describe the meaning of model risk. ii. Discuss the sources of model risk. iii. Analyze various characteristics
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Question:
Describe the meaning of model risk.
ii. Discuss the sources of model risk.
iii. Analyze various characteristics that causes model risks.
A good model risk management (MRM) framework should be crafted based on industry best practices and conform to regulatory guidelines.
iv. Verify this statement. You are required to use the references from research articles in your discussion. The discussion should provide the background, the contemporary issues, its effects on the financial institutions' operations and the suggested solutions.
Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
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