High Risk Model
From Open Risk Manual
Revision as of 22:27, 3 November 2019 by Wiki admin (talk | contribs)
Definition
A High Risk Model within a Model Governance framework, is a model whose significance, Model Complexity, and potential impact warrant extra caution, for example an in-depth independent validation from a designated Model Validation Unit that is competent, adequately resourced and sufficiently independent from the model developers
Issues and Challenges
- Model Risk identification and measurement is a nascent discipline hence classifications are subjective
