Model Risk Management Policy
This Model Risk Management Policy addresses how a bank, credit union, fintech company, or other type of financial institution utilizes quantitative analysis and models in most aspects of its financial decision making processes that are routinely used for a broad range of activities.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Model Risk Definition and Overview – Topic 4
- Risk Identification and Mitigation – Topic 5
- Duties and Responsibilities – Topic 6
- Model Development, Implementation and Use – Topic 7
- Model Validation – Topic 8
- External Resources – Topic 9
- Model Inventory – Topic 10
- Bank Secrecy Act Applicability – Topic 11
- Quality Control Standards for Mortgage Originators and Secondary Market Issuers – Topic 12
- Audit Policy – Topic 13
- Staff Training – Topic 14
- Retention of Documentation – Topic 15
Recent updates to this product:
07/15/24 Update
Joint Release – Quality Control Standards for Automated Valuation Models
This Model Risk Management Policy (approximately 37 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Product Update Protection Plan
Ensure your purchase from BankPolicies.com remains current by adding a Product Update Protection Plan to your shopping cart. You’ll automatically receive an updated version via e-mail every time it’s revised, within one year from the last date of purchase.
We’re Here to Help
BankPolicies.com keeps your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant.
