Complying with the UK’s New Model Risk Regulation

In this webinar, we will explore the Prudential Regulation Authority’s Supervisory Statement 1/23, Model Risk Management Principles for Banks, or SS1/23 for short. We will discuss what is distinctive about this new guideline compared to other initiatives such as SR 11-7. Additionally, we will cover senior management involvement, the practical challenges of raising awareness, and what the future holds for smaller institutions, including the PRA’s forthcoming clarification on proportionality.