Model Risk Management
Achieve and exceed MRM regulatory requirements with our award-winning team of analytics and consulting experts. With over 10 years’ of unrivalled experience in helping the UK’s leading banks and challenger firms with their model risk management, we make compliance a certainty.
Meet, and exceed, the PRA's model risk expectations
Model risk management is already a challenge for firms given the volume of work and specialist resource required to govern model risk risk effectively, as well as independently validate models. And it has gotten trickier. The PRA’s model risk management principles for banks (CP6/22 and SS1/23) communicates a material increase in expectations on model risk management and sets out key principles that must be integrated into each firm’s framework.
No matter your firm’s size or complexity, Jaywing can help implement and strengthen your model risk management requirements - by working on a specific aspect of your model risk journey, or by helping you set up your entire risk framework.
Model development
Work with our specialist, agile teams to build and implement models that meet both regulatory expectations and your organisation's exact needs.
Independent model validation
Enhance performance and stability and fulfil your specific model risk and governance requirements with 1st or 2nd line model validation.
Model risk governance
Receive support on the development and improvement of your risk management frameworks in line with the PRA’s model risk management requirements.
It was imperative that we selected a consultancy with the depth and breadth of technical modelling expertise, comprehensive knowledge of the regulation and a reputation for rigour with the regulators. Jaywing exemplified these attributes from the very beginning of our partnership and were proactive in aligning to our governance practices. Jaywing has exceeded our expectations having fulfilled our model validation requirements and contributed to the continuous improvement of our models.
We were quickly struck by the level of Jaywing’s expertise and the success of its models in ensuring adherence to regulatory requirements and managing model risk effectively.
What made Jaywing stand apart is their partnership engagement approach, their practical experience in risk modelling and loss forecasting, their flexibility and adaptability, and ultimately their commitment to timely delivering the solutions within budget
Request a no-obligation meeting with our experts
Jaywing has 10+ years of unrivalled experience of working with the UK’s leading lenders with their model risk management. By requesting this meeting, you’ll speak to our regulatory experts about your model risk concerns and goals, and receive best practice advice specifically tailored to your organisation.
Data Management: Meeting CP6/22 Model Risk Expectations
Data management specialist, Inderjit Mund, discusses the critical role of data in achieving the PRA's Model Risk Management (CP6/22) regulations and explains how you can optimise your data framework for model risk.
Model Risk Management (CP6/22) - What banks should do now
Banks can already start preparing for the PRA’s new model risk management principles (CP6/22). Here’s how.
(Machine) learning to live with CP6/22
Steve Finlay, one of the UK’s leading data scientists, examines how AI can be leveraged for model risk management and CP6/22 regulations.
Emerging challenges for CROs: stress testing and model risk (CP6/22)
After hosting UK Finance’s Chief Risk Officer network, Jaywing's Head of Regulatory Risk examines some of the key challenges faced by risk functions today – stress testing and model risk management.