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What is Model Risk and Why Does it Matter?

DataRobot Blog

This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. The stakes in managing model risk are at an all-time high, but luckily automated machine learning provides an effective way to reduce these risks.

Risk 111
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TBM helps CIOs translate tech spending to business outcomes

CIO Business Intelligence

The US Army adopted TBM practices about five years ago in its financial management and contract processes, says Katie McAteer, chief of strategic business transformation and optimization there. The US Office of Management and Budget has also pushed agencies to use TBM practices since 2017.

ROI 100
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Streaming Market Data with Flink SQL Part II: Intraday Value-at-Risk

Cloudera

These interactions are captured and the resulting synthetic data sets can be analysed for a number of applications, such as training models to detect emergent fraudulent behavior, or exploring “what-if” scenarios for risk management. Value-at-Risk (VaR) is a widely used metric in risk management. Intraday VaR.

Risk 99
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4 Reasons Why GRC Is a Useless Term

John Wheeler

It has been 5 years since Gartner embarked on the journey to enhance our coverage of the risk management technology marketplace. That journey included in-depth survey research and countless interactions with our end-user clients to understand their need to better manage strategic, operational and IT/cybersecurity risks.

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Vendor Security is Key to Preventing Future Data Breaches

Smart Data Collective

Unfortunately, there are often many weak links in the data security infrastructure, which can increase the risks of data breaches. However, the Identity Theft Resource Center reports a 68% increase in data breaches at corporations in 2021, surpassing the previous record rise of 23% in 2017.

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The trinity of errors in financial models: An introductory analysis using TensorFlow Probability

O'Reilly on Data

Yet, finance textbooks, programs, and professionals continue to use the normal distribution in their asset valuation and risk models because of its simplicity and analytical tractability. Time-variant distributions for asset values and risks are the rule, not the exception. Bayesian Risk Management , by Matt Sekerke, Wiley, 2015.

Modeling 198
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20 for 20: Top 20 IRM Research Publications

John Wheeler

This month, we continue our “20 for 20” theme by highlighting the top 20 “most read” research publications in our integrated risk management (IRM) compendium. Magic Quadrant for Integrated Risk Management, 2018. Magic Quadrant for Integrated Risk Management Solutions, 2019.