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The Prescient View
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The Model Risk Managers International Association Is Formed
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Santa Fe, New Mexico (November 9, 2018)

 “Finally, A Professional Group for Model-Risk Managers”, writes Steve Marlin in his article on “With models virtually flooding the financial world, those who vet them are banding together to create a standards-setting body. Founded in March, the Managers’ International Association (MRMIA) has drawn 1,800 professionals via LinkedIn, and is forming chapters in New York and London.”

“The group - it is open to practitioners, academics, consultants, regulators and vendors - wants to share knowledge, advance the state of the art and promote model filtering as the pivotal job it has become. The association will offer courses on model validation and governance, and professional certification in model-risk management. Networking and what the arc of a career might look like will also be part of the brief.”

Dennis Bennett, who is the group’s chief and founder, says that other professional organizations have their associations and model-risk managers need theirs.  Dennis expressed concerns about the need to validate and govern the big data and machine-learning models used for forecasting customer behavior.

The MRMIA is already attracting members from some of the largest big-data companies such as Facebook, Apple, Amazon, Netflix and Google.

Prescient Models’ Dr. Joseph Breeden is also a founding board member of MRMIA.  Joe joins Dennis Bennett, who previously was head of model-risk management at the Federal Home Loan Bank of New York; Christian Meyer, a quantitative analyst, and Peter Quell, head of portfolio analytics for market and credit risk, both at DZ Bank; Sergio Scandizzo, head of model validation at the European Investment Bank; and Peter Carr, who is chair of the finance and risk engineering department at NYU’s Tandon School of Engineering.

Read the entire article by Steve Marlin on

See upcoming MRMIA events at

We look forward to hearing from you.


Joe Breeden

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