SR Letter 11-7 - Supervisory Guidance on Model Risk Management

Duration: 60 Minutes
This training program will detail why SR Letter 11-7 has become the gold standard for model risk management, with its principle being adopted not only by banks but also virtually all U.S. financial institutions.
SR Letter 11-7
Instructor: Robert Geary
Product ID: 507904
Objectives of the Presentation
  • Understanding the SR11-7 guidance
  • Applying the guidance contained in SR 11-7
  • Reviewing current models in context of SR 11-7
  • Improving the effective use of risk management models
  • Evaluating policies and procedures that govern the development and use of risk management models
  • Ensuring that there is appropriate board of director and executive/senior management oversight of the development and use of risk management models
Why should you Attend
Financial institutions rely on models and quantitative analysis to perform key activities such as investment valuations, risk management and liquidity and capital management. A sound management of the risks inherent in the use of mathematical models is imperative to reduce the risk of reliance on flawed or misapplied models. SR Letter 11-7, issued jointly by the Federal Reserve and OCC, provides comprehensive guidance for banks on effective model risk management.

This webinar will offer attendees an understanding of the background behind SR Letter 11-7. It will further discuss the purpose and scope behind the supervisory guidance on model risk management.

Areas Covered
  • Background and objective of SDR 11-7
  • Summary review of types of risk management models
  • Defining model risk
  • Purpose and scope of the guidance
  • Model Risk Management
    • Development
    • Implementation
    • Use
  • Model Validation
  • Governance
    • Management oversight
    • Policies and Control
  • Roles and Responsibilities
Who will Benefit
  • Model Developers
  • Model Evaluators
  • Business Managers Utilizing Models
  • Financial Managers Utilizing Models
  • Risk Managers
  • Auditors
  • Board of Director Members
  • Executive and Senior Managers
    • CFOs
    • COOs
    • CROs
    • CIOs
  • Regulators
  • Risk Educators
Topic Background
In April 2011, federal bank regulators published SR Letter 11-7, entitled 'Supervisory Guidance on Model Risk Management.' SR Letter 11-7 outlines the regulatory expectations with respect to the risk management processes and internal controls that banks must implement to ensure that models are developed, implemented and used in a well-controlled manner. The guidance also describes the roles of the various areas involved in the management and oversight of models, including the need for independent model validation and effective challenge.
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Live Session - How it works
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  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Robert Geary is the founder of Greenwich Risk Management Advisory Services "LLC" and services as the principal consultant on many of the firm's consultancy mandates.

Robert has been a banking and finance industry professional for 43 years with 34 years serving in a variety of senior Treasury, financial market, asset management and risk management roles at JP Morgan Chase & Co. For the last 6 years of his career with JP Morgan Chase, Robert had undertaken risk management oversight roles that have included Head of Market, Credit and Operational Risk Management for Chase Asset Management and being Managing Director of Fiduciary Risk Management for the Corporation. During Robert's career he has served on the Board of Directors of Chase Manhattan Overseas Banking Corporation as well as having served on numerous senior committees. Prior to joining Chase, he held positions at Chemical Bank, Chrysler Financial Corporation and National Bank of North America.

Robert holds a BA degree in Economics from Pace University and did graduate studies in finance at New York University Graduate School of Business. He is a Past President of the New York Athletic Club and iscurrently a member of the Executive Advisory Board of St. John's University Department of Accounting and Taxation.


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