In RMA’s Model Risk Management Survey, A Picture of Banks’ Diligence and Frustrations

RMA’s third annual Model Risk Management (MRM) Survey explores the issues facing banks as they attempt to measure and manage risks, and the ways they’re structuring their model risk function to achieve this. While emphasizing the high priority banks continue to place on model risk management and its importance for meeting regulatory expectations, the survey surfaced shortcomings in areas like vendor transparency and headcount that hamper banks’ best efforts to create an ideal mod…