The risk management landscape has evolved considerably over the years due to an increasing focus on regulatory requirements, especially after the financial crisis of 2008. Risk management (as a function) has since become an integral part of financial decision-making, in contrary to the earlier siloed approach. With the extended use of analytics to measure and monitor risks, use of statistical models has become crucial, leading to model risk management. Hence, risk practitioners now need to ensure the efficacy of risk models, while addressing growing regulatory compliance requirements of conducting regular model validations and reviews, in addition to meeting use-test requirements.
The WNS Model Risk Management Centre of Excellence (CoE) helps clients with every aspect of the modeling ecosystem by addressing the imperatives of Basel guidelines, CCAR and D-FAST requirements, along with the local regulatory needs. The CoE leverages WNS’ proven capabilities as a BPM leader in the domains of analytics, technology, process re-engineering and project management, to provide end-to-end solutions in banking and risk modeling, and model risk management. Our teams integrate with clients’ broader corporate information network to deliver on the critical mandates. We help clients ‘free up’ scarce onshore resources to focus on core business activities, while engaging our offshore team to assist the client with other tactical tasks, including model development & performance analysis, model remediation & recalibration, and others.
A strong team comprising:
- Subject matter experts with experience in building and validating diverse credit risks, market risks and ALM models
- Data scientists with experience in building and testing models in multiple platforms
- Industry experts with 15-20 years of global experience in Banking and Risk Management
A true partner:
- Working as an extension of your enterprise, and ensuring adherence to your organization’s policies and procedures through independent quality review by a team of domain experts
- Offering flexible staffing models to facilitate one-time projects and catering to seasonal variations based on model validation cycles
- Imparting regular training and process-knowledge tests for core team members on areas across model risk management, statistical modeling and regulatory guidelines such as CCAR, Basel II & III, amongst other country-specific guidelines