Stress testing is an important component of good Model Risk Management (MRM). However, in a period of intense stress - such as during the current Covid19 pandemic - models often fail in unexpected ways. In this webinar, we have shown how a crisis may identify model weaknesses in various ways and how a good MRM framework can help to deal with these issues. Additionally, Jos Gheerardyn discussed how to use technology for crisis management of the model portfolio.
In this webinar, Jos Gheerardyn, CEO of Yields.io, talked about the interplay between Machine Learning (ML) and Model Risk. In the first part, we discussed how Machine Learning can help to streamline validation tasks, such as mesuring data quality, creating challenger models and performing stress tests. In the second half of the talk, we discussed how to create a model risk management (MRM) framework for Artificial Intelligence (AI).