Model Validation and Remediation Plans

Model Validation and Remediation Plans

For a mid-sized DFAST US bank headquartered in the Southwest, Prescio validated FICO based credit scoring models; reviewed, revised, and presented to the model risk management committee external-validations of Commercial and Residential Credit Loss models, bank’s implementation of Moody’s Commercial Mortgage Metrics, and Total Deposits, Non-Accrual Rate, Utilization Rate, and Total Commitments models; developed remediation plans in conjunction with both the model validation and model development groups to address the validation findings; scoped and developed validation plans for BSA-AML and ALM models; and produced and finalized model development documentation for Construction, Commercial, and Residential Real Estate Charge-Off models, as well as a ALLL model.