158. The ultimate responsibility for risk assessment lies solely with the institution, which …

The ultimate responsibility for risk assessment lies solely with the institution, which, accordingly, should evaluate its risks critically and should not rely exclusively on external assessments. For example, an institution should validate a purchased risk model and calibrate it to its own individual circumstances to ensure that the model accurately and comprehensively captures and analyses the risk.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/