Validating financial models busty spanish girl maria and her cute classmate wendy

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The process of validation (or independent peer review) allows for improvements and better estimates of a model’s strengths and weaknesses among management and user groups.We have the competency and knowledge base to thoroughly analyze all financial model components including logic, input, output, and process to provide a model validation that is reliable and free from bias.I have almost 20 years of experience in developing, validating, and reviewing credit risk capital, stress testing, and PPNR models and am currently leading a task group to develop Protiviti’s CECL/IFRS 9 modeling methodology and overall solution.Prior to joining Protiviti, I worked for several top U. banks and focused on developing internal credit risk models, and credit card portfolio management strategies.Multivariate techniques have been used as an alternative to construct quantitative models for credit forecast.These techniques are based on consumer profile data and allow the identification of standards concerning default behavior.Mc Kinsey uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you.Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy.

Once developed, companies are required to have independent and comprehensive validations performed in order to evaluate model risks.

Prescio maintains a holistic approach to model validation by first developing a complete map of the entire modeling process and the operations environment.

The approach then focuses on data inputs, key assumptions, and sound theoretical formulation and documentation.

Prescio maintains an in-house operational risk model that merges a Bayesian methodology with the Loss Distribution Approach (LDA).

We use this in-house model for comparison when externally validating a given operational risk framework.

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