Validating financial models radiodating techniques
Model Risk Management is responsible for validating the risk models used by ING worldwide.The key objectives are: To assure that models are reliable, appropriate for intended use and compliant with internal policies and external regulations.Once a deal type has been structured for one model, it is then priceable in all models, with all methods.Thus, a model may be validated by comparing it to a large collection of Numerix models, to determine performance against a firm’s proprietary models.We effectively challenge model forecast accuracy through multiple model tests and outcomes analysis.
Based on our years of validation expertise, we also provide clients additional insight with advanced industry practices to offer added perspective and guidance.
The assessments provide the high confidence level that only a truly independent review, produced by experienced ALM model users and financial management experts, can bring.
Our comprehensive service examines every facet of your institution's ALM model and supporting model governance.
It consists of two teams, the Market & Operational Risk team and the Credit Risk team.
The employees are highly educated and from different international and interdisciplinary backgrounds.