High-quality, cost-effective model risk management services.
High-quality, cost-effective model risk management services.
Guided by an industry-led Advisory Council, ProSight’s Model Validation Consortium combines 100+ years of experience in advancing sound risk management principles with deep knowledge and expertise in all phases of model risk management.
Outsourced and co-sourced model validation, re-validation, and reviews. Creation and fine-tuning of new and existing model risk management programs that meet regulatory guidelines while considering the size and risk profile of your banks and its models
"I was really impressed by the final report; it was thorough and well written. Your team also managed the project well and always kept me updated on their status."
Managing Director, Advanced Risk Services & General Counsel
ProSight Financial Association
Edward J. DeMarco, Jr. is the Managing Director of Advanced Risk Services and General Counsel of ProSight, a not-for-profit professional association headquartered in Philadelphia. DeMarco leads RMA’s climate, model, and operational risk practices.
He received a B.S. in accounting from Villanova University and his J.D. from Saint Louis University, where he served as Articles Editor of the Saint Louis University Law Journal.
He has been interviewed on topics such as cybersecurity and third-party risk management by The Wall Street Journal, Bloomberg News, The Economist, American Banker, and Bank Director.
Education
J.D. from Saint Louis University
B.S. in accounting from Villanova University
Senior Manager of Risk Services
ProSight Financial Association
Will Kutteh is the Senior Manager of Risk Services at ProSight, leading the organization’s model risk management community of interest, the Model Validation Consortium. He has over a decade of experience in the financial services industry, with a focus on enterprise risk and model risk management. He has performed validations of models used in credit analysis, interest rate risk management, liquidity measurement, CCAR stress testing, and CECL.
Practice Areas
Asset Liability Management (ALM), CECL, Credit and Prepayment Risk, Credit Scoring, Market Risk, and Model Risk Governance
Education
M.B.A. from Wake Forest University School of Business
B.A. in economics from Wake Forest University.
Risk Products Account Executive
ProSight Financial Association
David Bright is the Risk Products Account Executive supporting the Model Validation Consortium. He has over 30 years of experience in the financial services industry including commercial lending roles and implementing model-driven acquisition and risk management solutions for bank clients. His background includes credit analysis, asset-based lending, marketing, commercial and consumer bureau data strategies, and fraud/compliance solutions.
Education
M.B.A. from Temple University
B.A. in economics and business administration from Kalamazoo College
Managing Partner
Kevin D. Oden & Associates
Kevin Oden is the founder and managing partner of Kevin D. Oden & Associates (KDOA). Oden has more than 30 years of experience in the financial services industry, including multiple senior executive risk roles at large financial institutions. Oden has focused on model risk throughout his career, both from a development and oversight capacity, including building and overseeing the model risk function at a large US bank.
Practice Areas
Asset Liability Management (ALM), Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) and Fraud, CECL / IFRS 9, Credit and Prepayment Risk, Derivatives Pricing, Market Risk, Operational Risk, Stress Testing and Model Risk Governance
Education
Ph.D. in mathematics from University of California, Los Angeles
B.B.A. in operations research from Cleveland State University
B.S. in mathematics from Cleveland State University
Senior Quantitative Analyst
Kevin D. Oden & Associates
Diego Alvarez is an economist with more than 15 years of experience, including 10 years in the financial services industry and five years working within economic fields. Alvarez specializes in the validation of market and credit risk models with recent work on CECL, home mortgage, ALM, and integrated stress models. Alvarez has a B.S. and M.S. in economics from the University of Buenos Aires and the University of San Andres as well as a post-graduate degree in quantitative finance from the University of Center for Macroeconomic Studies of Argentina (UCEMA). His thesis analyzed the most popular machine learning algorithms (such as logistic regression, Decision Trees, Random Forests, AdaBoost, and Gradient Boosting). He is currently completing a systems analyst course on the use of Artificial Intelligence and has extensive experience using Java, SQL, and Python. His current focus includes QRM, Empyrean, AD&Co, and credit models, including credit scoring, CECL, and capital stress testing.
Practice Areas
Asset Liability Management (ALM), CECL / IFRS 9, Credit and Prepayment Risk, Market Risk, and Stress Testing
Education
M.S. in economics from the University of San Andrés, Argentina
Quantitative finance post-graduate program from the UCEMA, Buenos Aires, Argentina
B.S. in economics from the University of Buenos Aires, Argentina
Partner and Head of Analytics
Kevin D. Oden & Associates
Maia Berkane has more than 25 years of experience in the banking and financial services industry. Berkane led model development efforts in asset management, mortgage prepayments, market risk management, and in compliance with a focus on fair lending analytics. She has developed innovative approaches recognized as effective by the CFPB for fair lending analysis and review, as well as techniques for handling missing data and regime shifts in market data analysis.
Practice Areas
CECL / IFRS 9, Credit and Prepayment Risk, Fair Lending, Market Risk, Operational Risk, and Stress Testing
Education
Ph.D. in mathematical statistics from Paris-Sorbonne University
B.S. in mathematics from the University of Algiers
Senior Quantitative Analyst
Kevin D. Oden & Associates
Carolina Biagini Majorel is a seasoned economist with over seventeen years of experience in the financial industry. Biagini’s expertise lies in model risk management, encompassing risk modeling, validation, and model governance. She has a strong background in both quantitative and qualitative models and hands-on experience in managing projects to ensure successful delivery of high-quality output compliant with regulatory requirements.
Practice Areas
Asset Liability Management (ALM), Capital Stress Testing (CCAR/DFAST), CECL / IFRS 9, Climate Risk, Credit Risk and Loss Forecasting, and Model Risk Governance
Education
Post graduate certificate in quantitative finance from UCEMA, Argentina
M.S. in economics from Torcuato di Tella University, Buenos Aires, Argentina
B.S. in economics from the National University of Rosario, Argentina
Senior Quantitative Analyst
Kevin D. Oden & Associates
Greg Brozak is a quantitative finance professional with more than 30 years of experience in developing and validating financial and risk management models across a wide range of product types and risk factors. Brozak has broad experience in model risk management and model governance. He has led model development and model risk teams at large financial organizations. Brozak’s areas of model expertise include mortgage and credit models, interest rate/ALM modeling, stress testing, operational risk models, and climate risk models.
Practice Areas
Asset Liability Management (ALM), CECL / IFRS 9, Climate Risk, Credit and Prepayment Risk, Market Risk, Operational Risk, Stress Testing, and Model Risk Governance
Education
Ph.D. in physics from Northeastern University
M.A. in physics from the University of Buffalo
B.A. in physics and mathematics from Queen’s College CUNY
Professional Certifications
Financial Risk Manager (FRM) from the Global Association of Risk Professionals (GARP)
Sustainability and Climate Risk Certification (SCR) from the Global Association of Risk Professionals (GARP)
Senior Quantitative Analyst
Kevin D. Oden & Associates
Estella Chu has provided a broad range of risk management services to large financial institutions relating to risk governance, limits setting, financial instruments valuation, risk modeling, risk reporting, and Basel II/III regulatory compliance services. She specializes in quantitative modeling including technical and data validation applicable to market risk, credit risk, and counterparty credit risk and led many projects to help clients establish sound risk management and carry out model risk management and related internal audit programs. Her recent areas of focus include ALM, CECL / IFRS 9, credit, prepayment risk, market risk, liquidity risk, operational risk, and risk-weighted capital models.
Practice Areas
Asset Liability Management (ALM), CECL / IFRS 9, Credit and Prepayment Risk, Liquidity Risk, Market Risk, and Risk-Weighted Capital
Education
M.B.A. in finance and IT from Indiana University
B.A. in computer science from Shanghai Jiao Tong University
Professional Certifications
Chartered Financial Analyst (CFA) from the CFA Institute
Financial Risk Manager (FRM) from the Global Association of Risk Professionals (GARP)
SAS Certified Professional: Advanced Programming Using SAS 9.4 certification
Senior Quantitative Analyst
Kevin D. Oden & Associates
Pablo Macri has more than 20 years of experience in the financial services industry, academia, and research in finance and physical sciences. In finance, he has primarily focused on risk management, risk/derivative pricing systems, and machine learning/ artificial intelligence development. Macri has recently led validation projects for asset/ liability management, BSA / AML and fraud models based on machine learning, artificial intelligence, and other cutting-edge analytics.
Practice Areas
Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) and Fraud, Credit and Prepayment Risk, Derivatives Pricing, Market Risk, and Operational Risk
Education
Ph.D. in physics from the Balseiro Institute, Argentina
M.S. in physics from the Balseiro Institute, Argentina
Senior Quantitative Analyst
Kevin D. Oden & Associates
Leonard Mills is a Senior Quantitative Analyst at KDOA. Mills has more than 30 years of experience in model development and validation. Prior to joining KDOA, he worked at the Federal Reserve, Fannie Mae, and Wells Fargo, as well as consulted for a variety of financial institutions. Mills has extensive experience with credit risk/CECL, ALM, mortgage analytics, and mortgage hedging validations, as well as stress testing framework validations, including familiarity with AD&Co, MCT, QRM, and Moody’s Analytics.
Practice Areas
Asset Liability Management (ALM), CECL / IFRS 9, Credit and Prepayment Risk, Derivatives Pricing, Market Risk, and Stress Testing
Education
Ph.D. in economics from Tulane University
B.S. in mathematics from Hampden-Sydney College
Professional Certifications
Chartered Financial Analyst (CFA) from the CFA Institute
Certificate in Quantitative Finance (CQF) from the CQF Institute
Senior Quantitative Analyst
Kevin D. Oden & Associates
Gaston Romeo has more than 15 years of experience in quantitative solutions, mathematical modeling, numerical simulation, artificial intelligence, data science, and programming endeavors for top tier financial institutions and global analytics companies, national councils, and scientific collaborations worldwide. He has led multiple projects within the banking industry as part of model validation, corporate model risk, and front office group. Romeo’s particular areas of model expertise are credit risk models, including CECL/IFRS 9, ALM, market risk, and stress testing.
Practice Areas
Asset Liability Management (ALM), CECL / IFRS 9, Credit and Prepayment Risk, Market Risk, Stress Testing, and Model Risk Governance
Education
Ph.D. in physics from the University of Buenos Aires, Argentina
M.S. in physics from the University of Buenos Aires, Argentina
An RMA survey report out this summer details the current state of model risk management, from the typical ratio of model development vs. model validation staffers, to challenges regarding vendors, to the growing prevalence of artificial intelligence in models.
