Managing model risk with next-generation model governance

Traditional model validation assumes a model can be tested in isolation, signed off, and then left unchanged. That approach ...
SiliconANGLE

ValidMind raises $8.1M to streamline AI model risk management processes

Artificial intelligence model risk management startup ValidMind Inc. said today it has closed on an $8.1 million seed funding round that will be used to advance its go-to-market plans. Today’s round ...
SiliconANGLE

Ethos raises $6M to enhance model risk management for financial institutions

Modern model risk management startup Ethos AI Inc. announced today that it has raised $6 million in new funding to expand its engineering team, enhance its go-to-market efforts and strengthen its ...
JD Supra

Stress-Testing AI Models: A Modern Imperative for Model Risk Management

Artificial intelligence (AI) and machine learning (ML) are now embedded in the core of banking — powering decisions in credit, fraud, anti-money laundering (AML), and more. These systems bring scale ...
Finextra

Balancing AI innovation and model risk: Insights from SS1/23

Recently, the UK Government called upon key regulators—including the ICO, FCA, and Bank of England (which incorporates the PRA)—to outline their strategic approach to Artificial Intelligence (AI). In ...
JD Supra

Modernizing Financial Risk Management: OSFI's Draft Guideline on AI Model Risk Management

The Office of the Superintendent of Financial Institutions (OSFI) recently released an updated draft of Guideline E-23 Model Risk Management (Draft Guideline) setting expectations related to ...
San Francisco Fed

SR 11-7 Guidance on Model Risk Management

The Federal Reserve and Office of the Comptroller of the Currency (OCC) have issued the attached Supervisory Guidance on Model Risk Management, which is intended for use by banking organizations and ...