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This book will guide readers in dealing with these difficult challenges.\u003c\/p\u003e\r\n\u003cp\u003ePortfolio Construction and Management, edited by Brice Benaben and Julien Jarmoszko, explores the new alternative and innovative methodologies and trends in portfolio construction and management.  Featuring an interview with Suni Harford, President of UBS Asset Management as well as a host of leading professional portfolio experts, the book covers how to implement methodologies within regulatory and liability constraints. 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Yet interpreting the findings, understanding the limitations of the models and recognising the assumptions that underpin them can present considerable challenges for all except those with specialised quantitative financial-modelling backgrounds.\u003c\/p\u003e\r\n\u003cp\u003eOn the technological side, machine learning is challenging model validation, and on the regulatory side, there is an increasing interest in model-risk quantification. \u003cstrong\u003e\u003cem\u003eRisk Model Validation (3rd edition)\u003c\/em\u003e\u003c\/strong\u003e provides a comprehensive framework with practical examples that guides the reader towards the implementation of a tailor-made validation framework.\u003c\/p\u003e\r\n\u003cp\u003eThe authors lead the reader through the process of risk modelling, demonstrating how to interpret their findings, how to understand the limitations of risk models, and how to identify and challenge the assumptions that reinforce them.\u003c\/p\u003e\r\n\u003cp\u003eReaders will be able to:\u003c\/p\u003e\r\n\u003cul\u003e\r\n\u003cli\u003eEvaluate the validity of a model;\u003c\/li\u003e\r\n\u003cli\u003eJudge the model’s quality, consistency and regulatory compliance;\u003c\/li\u003e\r\n\u003cli\u003eEstablish or improve a framework for validation;\u003c\/li\u003e\r\n\u003cli\u003eSee how machine learning can support model development and validation; and\u003c\/li\u003e\r\n\u003cli\u003eTailor a model-risk approach for their institution.\u003c\/li\u003e\r\n\u003c\/ul\u003e\r\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eRisk Model Validation (3rd edition)\u003c\/em\u003e\u003c\/strong\u003e provides financial institutions with a toolbox to raise the key questions when it comes to integrating the results of quantitative risk models into business decisions.\u003c\/p\u003e","brand":"Risk Books","offers":[{"title":"Default Title","offer_id":51232492126550,"sku":"9781782724346","price":145.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0904\/4433\/3398\/files\/rmv-edition3-2d-616pixels.png?v=1751977936"},{"product_id":"the-cecl-handbook-a-practitioners-guide","title":"The CECL Handbook: A Practitioner's Guide","description":"\u003cp\u003eThe CECL model implementation requirement arguably represents one of the most influential changes to accounting standards which financial institutions have ever seen. 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