Model Risk Management


September 27-28, 2018, Boston

Join the Center for Financial Professionals, Darling Consulting Group and industry guest speakers in Boston on September 27-28 for a two day intensive deep dive into the fundamentals of Model Risk Management. The course is designed to be engaging and interactive with group discussions and activities, Q&A with leaders and guest speakers and ample networking opportunities.

Key highlights of this course:

Meet industry experts across a range of financial institutions to interact and discuss key topics

Effective challenge, governance and validation

Insight from Credit Suisse, Federal Reserve Bank of Richmond and Federal Reserve Bank of Chicago – with more to be confirmed!

Finding all models in the institution and ongoing detection

Day two features 4 individual validation case studies with interactive group elements

From data through to revalidation

Group exercises and activities will be incorporated across the two days to further develop understanding of concepts

Adaptable, efficient and effective

Led by Darling Consulting Group and featuring guest speakers

Drew Boecher

Drew H. Boecher
Managing Director
Darling Consulting Group, Inc.

Mike Guglielmo - hi rez copy

Michael R. Guglielmo
Managing Director
Darling Consulting Group, Inc.


Ray Brastow
Senior Financial Economist
Federal Reserve Bank of Richmond

Liming Brotcke

Liming Brotcke
Quantitative Manager
Federal Reserve Bank of Chicago


Jon Hill
former Global Head of Model Risk Governance
Credit Suisse

More speakers to be announced!


Indicate your preferences for quant and model risk to be the first to receive a copy of the Model Risk Management Course agenda


Register at the summer special rate of only $999 for the full two-day Course


Registration and breakfast on both days will open at 8:15 with opening remarks at 9:00, the Course will conclude at 5:00 on day one and 4:30 day two. There will be ample time for networking, lunch and refreshment breaks throughout the two days and interaction with the leaders and guest speakers is actively encouraged.

Day One | September 27, 2018 | Boston

Navigating risk – CECL, regulatory evolution, competition, & emerging technology

  • CECL challenges & practical tips
  • Financial crisis & regulatory evolution
  • Competition
  • Technology – blockchain

Next level model risk management: Reviewing regulatory guidance and expectations

  • Model Risk Management guidance (OCC 2011-12, SR 11-7, FDIC FIL-22-2017)
  • Evolving regulatory expectations and industry practices
  • Insights from validators

Establishing a model risk management culture for effective challenge and validation

  • Roles and responsibilities of business lines vs. model risk managers vs. auditors
  • Model governance and validation staff size and qualifications
  • Compensation and incentives
  • Outsourcing validations
  • Model risk management policies and procedures
  • Running model risk as a risk management function beyond validations

Reviewing the lifecycle of a model from available data to revalidation

  • Assess available data, the business problem, and choosing a modeling approach
  • Documentation: acceptable standards
  • Ongoing model performance monitoring
  • Model tiers and grading models for queuing validations
  • Resolution of disputes over model issues
  • Correcting findings detected in a validation

Assessment of model risk in the aggregate: Contributions of quantification

  • Industry progress made so far with respect to measuring model risk in the aggregation
  • Measuring model risk at the individual level
  • Aggregating model risk by model family
  • Example of adding some quantitative elements to assess model risk in the aggregate

Model inventory management: Systems available to track model inventory and usage

  • Definition of “model”
  • Model vs. calculator vs. qualitative approach
  • Model interdependence: systems of models, feeder models, multiple use models
  • On-going detection of models: self-reporting requirements and liaison activities

Day Two | September 28, 2018 | Boston

A new era of data management: Leveraging the use of technology

  • Data collection
  • Segmentation
  • Machine learning and artificial intelligence

Case study: validation of statistical models

  • Credit / credit stress testing
  • CECL

Case study: validation of non-statistical / non-complex models

  • Spreadsheet models and tools

Case study: validation of compliance / data-driven models

  • Fraud

Case study: validation of vendor / “black-box” models

  • Validation and testing techniques

Follow-up to validations: the validation is complete – now what?

  • The model risk reporting and communication to stakeholders
  • Getting strategic value out of the process and informing your enterprise risk strategy
  • Leading practices in MRM, including automation of testing and governance
  • Data governance: model risk’s role
  • Building relationships and establishing model risk’s influence as a risk management function

The future state of Model Risk Management: adaptable, efficient and effective

Q&A and open discussion


Indicate your preferences for quant and model risk to be the first to receive a copy of the Model Risk Management Course agenda


Register at the summer special rate of only $999 for the full two-day Course


Drew Boecher

Drew H. Boecher, Managing Director, Darling Consulting Group, Inc.

As a Managing Director at Darling Consulting Group (DCG), Drew brings two decades of experience evaluating asset liability management and assessing bank credit risk. His unique combination of regulatory and private sector experience provides modeling insights to improve strategic decisions.

As a consultant, Drew’s experience spans the spectrum from top Fortune 500 firms to very small firms. His advisory skills were procured to lead an asset liability management review for a global systemically important financial institution (GSIFI) and he consistently develops systems to help internal teams solve complex business problems at entities of all sizes.

During his extensive FDIC career, Drew’s asset liability management and credit knowledge was drawn upon to develop regulatory training materials used by multiple agencies, and he was a key contributor to 2007 “war game” simulations, creating scenarios similar to events that actually unfolded in late 2008.

Drew is a Boston College graduate who has a passion for learning and has remained an active CFA Institute volunteer for over 19 years.


Ray Brastow, Senior Financial Economist, Federal Reserve Bank of Richmond

Ray Brastow is a Senior Financial Economist at Federal Reserve Bank of Richmond.  Since joining the Richmond Fed in 2004 he has had several roles in bank supervision, most recently analysing bank loss models for credit card portfolios and other retail products. Ray’s current research is focused on model risk management, financial institution risks, and issues related to residential real estate. Ray earned a Ph.D. in economics from the University of Washington and has taught economics at several universities. He is currently Emeritus Professor of Economics at Longwood University in Virginia.

Liming Brotcke

Liming Brotcke, Quantitative Manager, Federal Reserve Bank of Chicago

Liming Brotcke leads the Model Risk Oversight team at the Federal Reserve Bank of Chicago and is responsible for evaluating model risk management (MRM) practice for large, foreign and regional banks within the 7th District. She and her team of MRM specialists conduct in-depth quantitative and qualitative review of models ranging from used for capital and liquidity stress testing as well as key lines of business decision making by bank holding companies across the Federal Reserve System. She is a veteran CCAR examiner and co-leads the quantitative review of credit cards loss estimation approaches in the last four years. Liming has extensive modeling experience in the retail business and sufficient working knowledge of other modeling areas including wholesale, securities, market and liquidity, derivatives, and operational. Her current focus also includes CECL modeling methodology change for revolving products as well as research on machines learning algorithms used for alternative lending and trading. Prior to joining the Fed, she worked at Citi Group and Discover Financial Services with years of model development and portfolio management experience. Liming holds a Ph.D. in Economics from the University of Illinois at Chicago.

Mike Guglielmo - hi rez copy

Michael R. Guglielmo, Managing Director, Darling Consulting Group, Inc.

With nearly 30 years of experience in strategic risk management, Mike Guglielmo provides technical and strategic consulting to a diverse group of financial institutions in the United States and abroad. Mike is also a frequent author and top-rated speaker on a variety of financial and operational risk management topics. During his tenure at DCG, Mike has served in various capacities, including director of financial analytics. In addition, he is a technical resource for the ongoing development of many of DCG’s quantitative and strategic risk management products and services. Prior to joining DCG, Mike managed the ALCO and strategic planning processes for a regional bank in the northeast. Mike is a graduate of Fairfield University with a degree in economics.


Jon Hill, former Global Head of Model Risk Governance, Credit Suisse

Jon Hill, Ph.D., is the former Global Head of Model Risk Governance at Credit Suisse. Jon has over twenty years of experience in various areas of quantitative finance. Prior to joining Credit Suisse as a Managing Director in January of 2017, he was the founder and global head of the Morgan Stanley’s global market and operational risk validation team; his team of 7 Ph.D. and Masters level quants in New York and Budapest is responsible for the validation (second-line-of-defense) of Morgan Stanley’s global market risk models, including Value at Risk (VaR), Stressed VaR, Incremental Risk Charge, Comprehensive Risk Measure and all firmwide Operational Risk models. Jon is a frequent speaker at professional conferences
Before joining Morgan Stanley in 2010, Jon was an Associate Director of model validation at the consulting firm Protiviti. Prior to that Jon was a member of the model validation group at Citigroup for six years, concentrating on equity, fixed income, foreign exchange, credit and market risk models. Before joining the Citigroup model validation team he worked for eight years on model development and general quantitative risk analytic methodologies as a member of the Quantitative Analysis Group at Salomon Smith Barney, which merged with Citibank in 1998 to form Citigroup. Jon began his professional career as a research scientist at AT&T Bell Laboratories in Holmdel, NJ, and worked for in such diverse areas as systems engineering, data mining, micro-processor design and operations research. Jon holds both a Ph.D. in Biophysics and a bachelor’s of Electrical Engineering degree from the University of Utah, as well as bachelor’s of Engineering Science degree from the University of Florida. Jon is a frequent speaker on the topics of model risk, risk analytics and model validation methodologies at professional conferences and seminars and is based in New York City.


Indicate your preferences for quant and model risk to be the first to receive a copy of the Model Risk Management Course agenda


Register at the summer special rate of only $999 for the full two-day Course


The Boston Marriott Long Wharf is a revolutionary destination for business travel. The hotel is located on the waterfront in Boston Harbour; the New England Aquarium is next door, and iconic attractions including Faneuil Hall Marketplace and the Freedom Trail are just a short walk away.

Ample networking opportunities are available throughout the two days; breakfast, lunch and refreshments will also be served across both days to allow for further discussion and networking. Interaction with the leaders and guest speakers is actively encouraged.

Be sure to bring a cellphone, tablet or laptop to make the most of our technology benefits at the event. Attendees can interact through electronic devices with Chair, Panelists and Presenters by sending questions related to the session, as well as downloading available presentations.

The course will feature group activities to put learnings into practice, team exercises allow for further discussion and networking with peers, plus the chance to interact with the leaders and demonstrate learnings.

Throughout the two days attendees will have the chance to ask questions to the leaders and guest speakers to tailor learning outcomes to your requirements. The agenda will feature a range of presentations, panels, group exercises and Q&A sessions to encourage group discussion and interaction.

The two-day agenda is designed by industry experts to provide an extensive insight into model risk management practices across the industry, with real life cast studies, interactive elements, Q&A with speakers and group activities, the two day event provides an opportunity for in depth discussion and learning.


19th July 2018

Assessment of model risk in the aggregate: Contributions of quantification

By Liming Brotcke, Federal Reserve Bank of Chicago and Ray Brastow, Federal Reserve Bank of Richmond.
11th July 2018

Model risk insight from Model Risk Director, TIAA Bank

2nd July 2018

Banks should pursue efficient and scalable “model factory” management

By Steve Turner, Managing Director, Jonathan ‘Wes’ West, Managing Director and Kaushik Deka, CTO, Novantas. 
26th January 2017

Assessment of operational loss data and its implications for capital modeling

14th October 2016

Risk models: A general strategy


This event is in partnership with Darling Consulting Group

Darling Consulting Group (DCG)

Darling Consulting Group (DCG) is a leading independent provider of balance sheet risk management services and solutions for the financial institution industry. DCG’s Quantitative Risk Analysis & Strategy Group provides specialized end-to-end validation for credit stress testing models (DFAST/CCAR) which includes an evaluation of the mathematical approaches employed to project credit losses and PPNR forecasts, as well as ALM model integration, governance, controls and documentation.

For over 30 years DCG has helped financial institutions of all sizes make better strategic and risk management decisions. Services include comprehensive asset/liability management and strategy advisory, balance sheet risk modeling, broad-based model validation (e.g. ALM, liquidity, credit, ALLL, MSR, capital, operational risk models), behavioral studies (deposits, prepayments), credit stress testing and challenger models, and liquidity management (including contingency planning, monitoring and stress testing tools).

2018 Media Partners:


Boston Marriott Long Wharf
296 State Street
Boston, MA

To book accommodation with our preferential rate of $359++ per night please contact the Marriott reservation team on 877-901-2078 and reference “Long Wharf Marriott Boston” and quote our event name “Model Risk Management” to receive the rate.

The Boston Marriott Long Wharf is a revolutionary destination for business travel. The hotel is located on the waterfront in Boston Harbour; the New England Aquarium is next door, and iconic attractions including Faneuil Hall Marketplace and the Freedom Trail are just a short walk away.


Indicate your preferences for quant and model risk to be the first to receive a copy of the Model Risk Management Course agenda


Register at the summer special rate of only $999 for the full two-day Course


Earn up to 14.5 CPE Credits for the two-day Course.

  • Prerequisites: Knowledge of financial risk management
  • Advanced Preparation: No advanced preparation is required
  • Program Level: Intermediate to advanced
  • Delivery Method: Group-live

The Center For Financial Professionals is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Please note these are subject to change as per the agenda and final credits will be available after the event.


Are there any rules on the dress code?

Business attire is requested. The Course is a formal opportunity to network with like-minded professionals and to gain knowledge from the industry’s finest risk management experts.

What is the cost and what is included in the registration fee?

We offer incentives for ‘early bird’ registrants of the Course, as outlined on our pricing structure.

Registration includes breakfast, refreshment breaks, lunches, full access to the Course sessions and exhibition area. Presentations from sessions are also available, subject to speaker approval.

Where can I find the Course documentation and speaker presentations?

All registered attendees will receive an email with access to documentation and speaker presentations after the Course*

*Please note that our speakers often have to gain permission from their relevant compliance departments to release their presentations. On rare occasions compliance may not allow presentations to be distributed.

Will breakfast, lunch and refreshment be provided?

Yes. As with all of our events the Center for Financial Professionals will be providing brilliant coffee, breakfast, lunch, refreshments, and smaller bites during the networking breaks.

This will be provided on both days of the Course.

Will there be opportunities to network with other attendees?

There are ample opportunities for networking and interaction throughout the Course, such as

  • Breakfast, lunch and refreshment breaks
I have several colleagues that would like to attend, is there a group discount?

Certainly! We are pleased to offer you a 50% discount on the third registration or provide a fifth registration for free.

If you would like to register more than five colleagues please contact us on +1 888 677 7007

Please note:

  • Registrations must be made at the same time
  • Registrations must come from the organization
  • The lowest registration will be discounted
Are media partnerships available for Model Risk Management Course?

Yes. As part of a media partnership we can offer a variety of options to increase the branding and awareness of your association, company, certificate, publication or media. We are flexible with what we can offer however we usually:

  • Provide a discounted rate to attend
  • Place your logo and profile on the Course website
  • Place your logo on the Course brochure
  • Place your logo on promotional content where applicable
  • Distribute your media/marketing at the Course
  • Promote through social media channels

To discuss this further please contact or call +1 888 677 7007.


Summer Special
Register by August 3
Super Early Bird
Register by August 24
Early Bird
Register by September 14
Standard Rate
Registrations after September 14
Model Risk Management
September 27-28, Boston
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Group Bookings:

Group rates are available for three or more attendees from the same organization, when registering at the same time. The current rate allows every third colleague to come along for half price! or a fifth colleague to attend for free.

Credit Card Payments

Please ensure that you have informed your credit card issuer that you will be making this transaction

Other ways to register

1. Save Time – Register by Email

Simply email us with your e-signature – and we will do the rest for you!

2. Contact Us Directly

3. Download the PDF Registration Form

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