4th Annual Advanced Model Risk USA

Topics

• Black box models and understanding expectations for transparency
• The evolution of models and expansion of definition and classification
• Industry standard for climate risk modeling
• Explainability capabilities within AI and machine learning models
• Collaboration across the three lines of defense for oversight and validation
• Macro economy as uncertainty continues to impact models
• Global requirements and expectations to deliver effective model risk management
• Risks of bias and ethics and fairness considerations
• Climate stress testing and forecasting capabilities to accurately assess climate impacts on the organization
• Inclusion of operational risks under model risk including cyber risk and fraud models
• Data requirements and other elements to mitigate greenwashing risks
• Continuous evolution of model risk with increased digitalization
• Trade Surveillance Program to increase fraud detection
• Scenario analysis and quantification methods to better identify impact of disruption
• Strong risk culture to manage AI and machine learning models
• Automating model risk management activities to increase efficiency
• How Covid-19 has impacted fraud and financial crime and future approaches
• Evolution of model risk and scoping future decisions
• Incorporation of fraud within financial crime and convergence for enhanced oversight of risks