As institutions prepare to implement their new CECL models, they should have a model validation performed by an independent party in accordance with regulatory guidance. To get the most out of the model validation, institutions should have completed parallel model runs, prepared model documentation, developed controls, and established a governance framework to monitor the model's performance and outcomes. Join us for an informative webinar as we share the importance of model validations, what to expect, how to prepare, and what to do with the results. We'll also include perspectives and lessons learned from 2020 and 2023 adopters.
Upon completion of this program, participants will be able to:
- Identify the core elements of a model validation
- Demonstrate how to prepare for a model validation
- Apply lessons learned from both 2020 and 2023 adopters who have completed a CECL model validation