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Aug, 2016

IFRS9 Model Risk Management – Given the Short Shrift?

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Banks are scrambling to meet with IFRS 9 guidelines and are setting down on the path to implement various ECL estimation methodologies and models. But a topic that hasn’t been given enough attention is the need for governance of these models and the attendant model risk management framework that needs to be set up to lend credibility to the model estimates. IFRS 9 is the new accounting standard for recognition and measurement of financial instruments that will replace IAS 39. Several banks are planning to perform parallel run by Q1 […]