Digital Transformation of Model Management
Banks need to transform their model and data management in order to effectively manage their model risk
2-3 Jun 2022
New York, NY, United States of America
- Why You Should Attend
Digital Transformation of Model Management
To ensure we meet your expectations and maximise your return on training investment, we favour a classroom/workshop style set up for the delivery of our courses. Please note we therefore have a limited number of spaces available and these will be assigned on a first come, first accepted basis. We recommend early booking to avoid disappointment.
Regulated financial institutions (FI) that extensively use models are facing challenges in growing model risk management activities and regulatory scrutiny and in the meantime under the pressure to reduce the cost of model risk management. FIs have to centralize model development and validation activities across the enterprise to address this challenge, increase efficiency of model management activities, and comply with strict regulatory requirements.
The centralization of certain model life-cycle functions may produce limited impact on the overall efficiency of the enterprise model management because models are used in a decentralized environment across multiple business units and operated on fragmented infrastructure and siloed data. The fragmented infrastructure and data architecture are also the major impediments for quantification of the enterprise-wide model risk with the use of AI and ML techniques.
Non-regulated or smaller FIs that want to use models in their business and risk management processes are facing a dilemma whether to adopt a conventional or distributed model management framework. To make that determination, they consider the implementation cost, expected efficiency of the processes and the efforts required to comply with relevant regulatory requirements.
This course covers current issues and offers practical solutions. It encompasses a transformation of the existing framework or development from scratch of an infrastructure that integrates models and data used across corporate functions and business units. Suggested solutions are enabled by a technology that supports distributed decision making and digital rights management. These are critical for building agile model management functions and quantifying model risks without incurring excessive costs.
How will you benefit?
· Learn how to approach digital transformation of model management to increase efficiency and decrease cost of model usage, regulatory compliance and risk management
· Gain familiarity with a practical framework of digital transformation impacting the model lifecycle, business processes, people, control and assurance functions
· Understand how to normalize data sources and models to create an enterprise-wide fabric of modelling ecosystem
· Learn about the Distributed Ledger Technology (DLT or Blockchain) and its application for the Enterprise Distributed Model Management (DMM) and Digital Rights Management (DRM) on the cloud
· Utilize AI and ML techniques for quantification of a portfolio and enterprise model risk
About your expert trainers:
Dr Alex Shipilov, CEO, iModX
Dr. Alex Shipilov has over 25 years of experience gained inside the financial services industry. He has held executive positions with banking, insurance and accounting firms and led risk management, internal audit functions, and quantitative risk advisory practices. He has also consulted financial institutions and corporate treasuries in Canada, the U.S., the U.K., Spain and Russia. Alex is a co-founder of the Professional Risk Managers’ International Association (prmia.org) and the International Model Exchange (iModX.org).
His experience includes a wide spectrum of services in regulatory remediation, governance, risk management, internal audit, modelling, and data analysis for financial institutions. The nature of the work involved independent testing, validation, and assurance of implementation of blockchain technologies, models, enterprise-wide internal controls and processes.
Alex has developed extensive publications and conference presentations over the past 20 years on the subject of practical approaches to identifying and managing model risk with specific solutions that involve distributed ledger technology and digital rights management.
Dr. Jon Hill is an adjunct professor of Model Risk Management at the NYU Tandon School of Financial Risk Engineering. He also is an independent consultant in model risk management and governance. With over twenty years of experience in diverse areas of quantitative finance, Jon has specialized most recently in various applications of model risk management, governance, and validation. He is a professionally recognized thought leader and published author in the field of contemporary model risk management.
Jon is the former Global Head of Model Risk Governance at Credit Suisse in New York City and was the founder and global head of the Morgan Stanley’s global market and operational risk validation team for 6 ˝ years. Prior to his tenure at Morgan Stanley Jon was a member of the model validation group at Citigroup for six years.
Jon holds a Ph.D. in Biophysics and a Bachelor of Electrical Engineering degree from the University of Utah. He is a published author on various subjects drawn from the field of model risk management and is a frequent speaker and chairperson at professional model risk management conferences in the US and Europe.
Matthew Rappard is the Chief Innovation Officer at Stonepaper a research and development studio of emerging technologies focused on the Blockchain. Positioned at the forefront of the industry, he has built leading bespoke blockchain enterprise solutions for a diverse clientele. In an ever globalizing and complex business environment, StonePaper.io Smart Contract platform allows for the communication and consolidation of legal contracts for increased efficiency, enforcement and auditability. Rooted in the Environmental, Social and Governance impacts of Blockchain development, Matthew builds the blockchain and disruptive technologies for the Common Good.
As a graduate of Ryerson University, he started his career in media production while working at major networks including CBC and Corus, but always felt the pull into interactive development. He pivoted to the development and production of interactive content for YTV, W Network, CBC Television, and BlackBerry through Loopmedia. Matthew used theses skills in this emerging field as a Special Effects Director and to lead the Interactive Development department at Loopmedia. He then co-founded Stonepaper, where he is the lead developer and technical strategist of Stonepaper technology and solutions.
Dr. Yaping Jiang has over 25 years of experience in financial industry. She has extensive knowledge and experience in financial risk and model risk management with focuses on all aspects of quantitative analytics, including valuation of various derivatives products, risk measurements/ monitoring of key risk types (market, credit, and operational risks), economic/ regulatory capital calculation, model lifecycle controls, and model risk governance.
Yaping brings wide-ranging knowledge and experience in Internal Audit and consulting services. Her work covers compliance assessment with regulatory requirements (regulatory capital, ICAAP, stress testing, etc.), remediation of regulatory findings, general risk management framework (market risk, model risk, operational risk, and enterprise risk management).
A detailed questionnaire will be sent to all course participants to establish exactly where the group training needs lie. The completed forms will be analysed by the course leader/trainer and followed by telephone if further clarification is required. As a result we can guarantee that the course is pitched at exactly the right level and that the issues that you regard as relevant are addressed. The course material will reflect these issues and will enable you to digest the subject matter after the event in your own time.
Who should attend?
Industry regulators, CROs, CIOs, CDOs, Heads of Model Risk, Governance, and Validation, model developers, first, second, and third lines of model risk defence, project managers, internal control and audit, and data analysts.
- Key Topics
- Learn how to approach digital transformation of model management to increase efficiency and decrease cost of model usage, regulatory compliance and risk management
- Gain familiarity with a practical framework of digital transformation impacting the model lifecycle, business processes, people, control and assurance functions
- Understand how to normalize data sources and models to create an enterprise-wide fabric of modelling ecosystem
- Learn about the Distributed Ledger Technology (DLT or Blockchain) and its application for the Enterprise Distributed Model Management (DMM) and Digital Rights
- Utilize AI and ML techniques for quantification of a portfolio and enterprise model risk
- Why Choose GFMI marcus evans?
marcus evans specialises in the research and development of strategic events for senior business executives. From our international network of 63 offices, marcus evans produces over 1000 event days a year on strategic issues in corporate finance, telecommunications, technology, health, transportation, capital markets, human resources and business improvement.
Above all, marcus evans provides clients with business information and knowledge which enables them to sustain a valuable competitive advantage and makes a positive contribution to their success.
- Voice of Our Customers
- “Great event...subjects and experiences with good examples” JP Morgan
- “Well exceeded my expectations, topics were exactly what I wanted to hear and apply” BOK Financial
- “Very, very helpful. Please do it again” Morgan Stanley
- Join the Discussion
- Event Contact
For all enquiries regarding speaking, sponsoring and attending this conference contact:
101 Finsbury Pavement, London, EC2A 1RS
Telephone: 0044 203 002 3172