03 April 2020
The coronavirus pandemic is having an impact on business operations across the UK. It is now necessary for businesses to significantly recalibrate their short- and longer-term forecasts.
01 November 2018
As with the other three principles, the PRA gives sound, common sense guidance overall but leaves a lot of practical matters untouched and questions unanswered.
16 October 2018
About two years ago, we published the second edition of our best practice guide to financial modelling with the ICAEW. It focuses primarily on spreadsheet-based, time-series centred, financial forecasting models. Though with a little imagination, the principles can be more widely applied.
25 September 2018
Have you got a robust model development and implementation process and can you demonstrate it to the regulator?
15 August 2018
As with all risks within a financial institution, model risk requires a framework within which it should be managed. This involves robust governance, policies, procedures and controls in place to manage model risk. At all levels of the organisation, those involved in creating, using, overseeing and controlling models have a part to play.
03 August 2018
PRA supervisory statement on model risk in stress testing for financial services organisations. How to comply, what are the principles and what do you need to do?
27 July 2018
PRA supervisory statement on Model risk in stress testing for financial services organisations. How to comply, what does principle 1 mean for you what do you need to do?
06 November 2017
In a deal, models can amplify or dampen uncertainty. Here are 10 key considerations to help mitigate against unpredictability.
11 September 2017
Research regularly highlights the risks involved in spreadsheet use.