Major U.S. bank, a pioneer in the use of machine learning models, teams with Protiviti to improve its model validation framework
Major U.S. bank, a pioneer in the use of machine learning models, teams with Protiviti to improve its model validation framework
3 PagesInternal Audit, Risk, Business & Technology Consulting FPO Keys to Success Change Requested An early adopter of machine learning (ML) models requested assistance with ML model validation after identifying internal expertise gaps. Change Envisioned Work with the client to improve their model validation framework with relevant ML protocols and apply it to a prioritized list of ML models. Change Delivered A collaborative approach helped meet the validation goal and deadline and delivered an improved ML model framework, satisfying regulators and the board. Following the financial crisis of 2007-2008, regulators issued specific guidance to help banks reduce the risk of financial losses or other adverse consequences stemming from decisions based on incorrect or misused financial mo
