Deloitte’s Global Model Practice Survey (GMPS) 2011 provides insight into the maturity of model practice within financial institutions. This survey focuses on the developments in the areas of the various elements of the model life cycle. The survey was conducted during the second half of 2011 and had the participation of 89 financial institutions from all around the world.
Models are at the heart of financial institutions, since they can be powerful tools in assessing risk and improving decision making. The financial crisis taught financial institutions that simply relying on the outcome of models is a risk itself. Therefore, understanding the risks, their limitations and the economic environment is critical when using models.
The survey results illustrate that respondents face difficulties with enhancing their model practice to a sound standard. Based on this generic observation our modelling team has designed a comprehensive set of key criteria and converted these criteria into a leading practice checklist, which may serve as a handle for enhancing your model practice standards. This checklist can be found in the Appendix to the report.
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Of course you may download the Global Model Practice Survey 2011.
Download Deloitte’s Global Model Practice Survey 2011.
Also the reports of previous years are available. For these reports we refer to ‘Reports previous years’ at the right-hand side of this page.
Deloitte’s Modelling team has the knowledge and experience to help you with your modelling issues. The team already developed, validated and implemented many models and model policies in the financial services industry.
Are you curious how the results of the GMPS impact your organisation? Please contact Michiel Lodewijk, Twan Kilkens or Koen Dessens of Deloitte who are willing to help you further.
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