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Explain the human component in model risk

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Reference no: EM131516076

Question:

Model risk exposes an organization to subjective decision making. There is an element of the human factor in model risk.

For this assignment, use what you have learned from your readings, research, and lecture notes to develop a 2-3 page paper explaining the human component in model risk.

In your paper be sure to address the following:

Explain the human component in Model Risk

As a consultant, list which business departments you would build relationships with to help minimize those risks.

How would you utilize those departments? Feel free to share information learned from previous courses (such as Human Resources, Training and Development, Accounting, Finance, etc).

Be sure to proofread your paper for spelling and grammar errors.

Verified Expert

The paper is about the human components that are involved in modelling the risk of the systems and the various other factors that are responsible for bring about a variation in the actual risk compared to the expected risk. Also it talks about the interaction and the teams with which they are to be carried out in order to make sure that we are able to save ourselves or at least reduce the amount of risk coming to our systems. The paper has been prepared in Microsoft office.

Reference no: EM131516076

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