Understanding and Managing Model Risk

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Understanding and Managing Model Risk is written by Massimo Morini and published by John Wiley & Sons. It's available with International Standard Book Number or ISBN identification 0470977744 (ISBN 10) and 9780470977743 (ISBN 13).

A guide to the validation and risk management of quantitative models used for pricing and hedging Whereas the majority of quantitative finance books focus on mathematics and risk management books focus on regulatory aspects, this book addresses the elements missed by this literature--the risks of the models themselves. This book starts from regulatory issues, but translates them into practical suggestions to reduce the likelihood of model losses, basing model risk and validation on market experience and on a wide range of real-world examples, with a high level of detail and precise operative indications.