The need for Model Risk Management

Discover why Model Risk Management (MRM) is crucial for organizations utilizing models for decision-making. This video explores how models, though beneficial for handling complex data, come with risks that can lead to financial losses, reputational damage, and ethical concerns.

Examples include biased AI recruiting tools and inadequate model governance leading to significant financial losses. Learn about the importance of active MRM to mitigate these risks and ensure robust governance within the model lifecycle.