Don’t Overlook Your MRM “Annual Touch”
Darling Consulting Group
With over 30 years of experience in strategic risk management, Mike Guglielmo has provided technical and strategic consulting to a diverse group of financial institutions. Mike is also a frequent author and top-rated speaker on a variety of financial and operational risk management topics and serves as Finance Council Chairman and board member for the Financial Managers Society and as a faculty member of the Association for Management Information in Financial Services (AMIfs) Institute.
During his tenure at DCG, Mike has served in various capacities, including director of financial analytics. In addition, he is a technical resource for the ongoing development of many of DCG's quantitative and strategic risk management products and services. Prior to joining DCG, Mike managed the ALCO and strategic planning processes for a regional bank in the northeast. Mike is a graduate of Fairfield University with a degree in economics.
An often overlooked aspect of model risk management is the periodic review or “annual touch” expected by regulators in years when a full independent validation does not occur. At best, this oversight can draw regulatory criticism and mandated corrective action. At worst, it can lead to ill-informed strategic decisions and adversely affect an institution’s performance.
During this session, veteran model risk and validation expert Mike Guglielmo will share his insights into this critical aspect of model lifecycle management, what it entails, and how to ensure your program provides sufficient insights to management and the Board.
Current regulatory concerns and expectations, especially in light of recent interest rate and liquidity risk events
Benefits, challenges, and risks associated with the annual review process
Key steps and best-practice approaches to institutionalizing a successful program