In the heart of amazing software development, in the city Brno, we launched a blog to share our thoughts.
End User Computing (EUC) items exist in every bigger organization and are a potential source of headaches and significant loses. So, what are EUCs and how do we save ourselves this trouble? Here’s my point of view based on our recent case.
In CloseIT, we have a channel on Slack where we share interesting development YouTube channels, blog posts, articles, etc. with each other. Here are our DevTips from last month.
Models used by financial institutions (FIs) are not defined only by their source code, datasets, and documentation, but also by the entire model lifecycle, which can typically be broken down into a set of workflows. Therefore, FIs often acquire workflow management systems, typically standalone, or the processes are "defined and maintained" in good old Excel sheets. While this might have seemed like a sufficient solution, there are much more advanced approaches, with an incomparably higher value for the business.
Model governance regulators are moving their focus closer and closer to the qualitative elements of a model – the model governance process. Unfortunately, the regulator also often asks the bank to explain their internal risk mitigation process without the providing the specific guidelines necessary to match the model to the bank’s methodology.
Model inventories start to become more complex when one starts contemplating and later implementing them. They very often become an elementary component for all later model governance/model risk management related efforts. Having a solid foundation is key to smooth sailing in the future.
I would like to discuss a problem with you that I see repeatedly encountered when performing complex, multifarious tasks such as bank stress tests: the lack of ability to concentrate on the "bigger picture" and the consequences this has on the analyst.