- 20 Marks
CG – APR 2024 – L4 – Q3 – Model Risk Management in Banking
Examine measures for the board to implement for effective governance of model risks when modeling outcomes deviate from actual results in a bank.
Question
The Chairman of the Risk Committee of Diamond Bank has observed that the Modelling of Risks, facing the bank has not provided the expected outcomes compared to the actual results being reported by the Finance Division. Examine measures the Board should implement to effectively govern the Model Risks facing the bank.
(20 marks)
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