Kingshuk Pailan

Manager @Citi

Bengaluru, IN

Model Validation: Validating models involves assessing their conceptual soundness, mathematical accuracy, implementation, and overall performance. This step helps to ensure that the models are appropriate for the intended purpose and comply with regulatory requirements.Ongoing Monitoring: Once the models are validated, they need to be continuously monitored to identify any potential issues or deviations from expected behavior. This monitoring process typically includes regular reviews of model outputs, performance metrics, and comparisons with actual data.Model Governance: Establishing a robust model governance framework is essential for effective model risk monitoring. This framework includes policies, procedures, and controls to manage the entire model lifecycle, including model development, implementation, validation, and retirement.Risk Identification and Mitigation: Model risk monitoring involves identifying potential risks associated with the models and implementing appropriate risk mitigation measures. This may include conducting sensitivity analyses, stress testing, and scenario analysis to assess the model\'s performance under various conditions.Reporting and Documentation: Model risk monitoring requires thorough documentation of the monitoring activities, findings, and remediation actions taken. Regular reporting to senior management, regulators, and other relevant stakeholders helps ensure transparency and accountability.

Indian Institute of Technology, Bombay

Master’s Degree, Applied Statistics and Informatics

Presidency University, Kolkata

Bachelor’s Degree, Statistics