The PRA defines a as any quantitative method or system that applies theories and assumptions to process input data into output. Principle 2: Governance
Firms should establish a robust board-level framework for model risk. Download Ss123 2022 zip
Firms must maintain a complete inventory of all "models" in use. The PRA defines a as any quantitative method
A designated Senior Management Function (SMF) must be accountable for the MRM framework. Download Ss123 2022 zip