Model Risk Management with SAS

Chapter 4: Model Review, Findings, and Action

Model Review

Demo 4.1: Processing a Model Review

Model Monitoring

Findings and Actions

Demo 4.2: The Finding and Action Plan Process

Model Review

Models must be reviewed to ensure they perform adequately and meet ongoing operational and regulatory requirements. Model reviews pertain not only to new models that have been developed and need validation but also to existing models that must be reviewed, monitored, and re-validated periodically. The SAS Model Risk Management model review workflow is designed to facilitate these review requirements.

The model review life cycle is controlled by a workflow specification that can be easily modified to conform to an organization’s business processes. There ...