Chapter 22 ERA 3.1 Considerations on Implementing Internal Risk Model - Mango

Just know the 4 sections and have an idea of what it covers

1. Startup: Staffing and Scope

   • Scope and purpose

   • Resource commitment and good controls over I/O

2. IRM Parameter Development

   • Data quality, company characteristics, differing risk attitudes

   • Expert opinion, validation, modeling software

3. Implementation

   • Priority setting, communications, pilot program, education

4. Integration and Mainteneance

   • Corporate calendar, update frequency and controls