Risk Management Archives

March 15, 2023

Challenges with Third-Party Risk Assessments

As businesses become increasingly reliant on third-party vendors for IT services, it is important to understand and manage the potential risks associated with this type of relationship. A misstep in managing these relationships can have significant consequences, including loss of data or access, financial losses due to downtime or disruptions in service delivery, and even …

by Scott King

December 14, 2022

How to Comply with SR 11-7: Guidance on Model Risk Management

About SR 11-7: Guidance on Model Risk Management SR 11-7: Guidance on Model Risk Management is a document issued by the Federal Reserve Board that provides guidance and regulatory expectations related to model risk management. The guidance defines model risk as the risk of incorrect or inappropriate model usage, incorrect model outputs, or model implementation …

by Luther Birdzell

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