Operationalizing E-23: Practical Frameworks for Banks and Insurers

OSFI’s revised E-23 guidelines raise the bar on how banks and insurers are expected to manage model risk- calling for an enterprise-wide perspective & risk-based model risk framework, mandating robust controls across the model lifecycle, paying attention to model deployment risks and expanding beyond traditional models to include guidelines specific to AI/ML models.

The real challenge is no longer interpretation- it’s execution.

Key takeaways

This webinar explored the practical implementation of OSFI's revised E-23 guidelines for banks and insurers, covering:

• Why E-23 matters now.
• How E-23 compares with other bank and insurance model risk guidelines, including SR 11-7, ECB Guidelines, Actuarial Standards of Practice, and AMF MRM Guidelines.
• Typical challenges banks and insurers face.
• The five pillars for moving from regulation to reality.
• How to realize value from E-23 compliance.
• Common implementation pitfalls.
• A practical implementation roadmap.

The session concluded with a Q&A featuring our model risk experts.

Missed the webinar? Access the replay here.

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