Model Risk Management (MRM) at HSBC is structured as a global function, headed up by the Chief Model Risk Officer (CMRO). MRM are the second line of defence (2LoD) for Model Risk and the CMRO is the global Model Risk Steward for the group and is also accountable for the global operation of the MRM function. MRM teams are based in each region, to ensure local subject matter expertise and to guide, review, and challenge. MRM activity is managed on a global basis as many models are used in multiple locations. This enables MRM to operate consistently and efficiently globally, and to take account of additional local regulatory requirements.
The MRM AI CoE is a team within IMR comprising AI specialists which provides leadership, standards, coordination, and subject matter expertise for all AI activities across MRM, including validation, to ensure MRM’s treatment of AI throughout the model lifecycle is effective, efficient, consistent and current. They work with the Infrastructure Team to advance the adoption of AI tools and techniques throughout MRMs internal processes.
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