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Flashcards in Multi-framework Review Deck (6):

Model Life Cycle

1. R&D
2. Model implementation
3. Post implementation


Model development documentation: Executive Summary

Any limits/weaknesses
List of key personnel
Model structure/features
Modeling approach (high level descr)


Model development data

If external data used - why relevant?
Any limits
Data dictionary, data sources
How multiple sources were combined and how data was filtered
Details of sampling
Description of data and segmentation, cleaning of data


Implementation documentation

Computer code annotation
User's guide and operating procedures
Business continuity planning
Implementation testing doc
Technical specifications


Vendor model documentation

How vendor model is applicable
Ongoing model performance testing
Results of validation/testing
Rationale for inclusion/exclusion of data
Any customization


Accounting Model Criteria

Use inputs from active markets when available
Consistent accounting model for all contracts
Consistency ...
- between exit and entry methods
- of unit of account
- with pricing methods
- with other accounting methods