Model Risk Management

A Survey on Machine Learning Algorithms for Their Development & Implementation


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Industry Insights

In recent years, the use of machine learning algorithms has become increasingly prevalent in financial institutions due to their ability to enhance the analytical and forecasting capabilities of business models and facilitate automation.

However, building machine learning models remains a challenge owing to the complexity of development methodologies, difficulty in model traceability, and impediments in explaining the interaction between variables.

This survey of various machine learning algorithms will:

  • highlight their underlying risk,
  • illustrate the problems they solve,
  • and propose solutions Evalueserve can provide for the development, validation, and implementation of these models.
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