While both the past and future of analytical quantitative models in financial services are extremely rich in scope, there are key trends shaping the future of model risk management that cannot be ignored. In a session entitled “The Shape of Model Risk Management to Come” at the 2020 RMA Annual Risk Management Virtual Conference, Kevin Oden, managing director for the Model Validation Consortium of the Risk Management Association focused on the future of how models will be used and managed at banks and other institutions as theoretical innovations clash and combine with technological innovations.
Here are the key topics he covered in the 25-minute presentation.