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Effective model risk management and model validation in banking

Abrigo

Best practices for assessing models and managing risk Sound model development, implementation, use, and validation is especially important as CECL models debut. . What are model risk management and model validation? SR 11-7, issued by the Federal Reserve and OCC in 2011, is the supervisory guidance on model risk management.

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Prescription Drug Discounter GoodRx Launches IPO

PYMNTS

Founded in 2011, GoodRx gathers drug prices on more than 70,000 U.S. It makes money by charging fees to pharmacy benefits managers who partner with it. Morgan and Barclays will act as IPO managers. The idea is to optimize the best prices for a given drug, depending on the location of the user.”. Seelaus & Co.,

Capital 168
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Financial Services Platform SoFi Plans IPO Via SPAC

PYMNTS

Silicon Valley startup Social Finance (SoFi) is closing a merger deal with blank-check firm Social Capital Hedosophia Holdings Corp. Social Capital Hedosophia is one of three special-purpose acquisition companies (SPACs) on the lookout for investment opportunities. V to file an initial public offering (IPO). .

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Report: Digital Lender SoFi Eyes IPO Via SPAC

PYMNTS

The company was founded in 2011 and has worked to capitalize on banks' reduced focus on lending after the late 2000s financial crisis, working on refinancing student loans early on and has since also worked on mortgages and personal loans, according to Reuters. It has also begun work in stock trading and cash management accounts.

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Report: Accounting Firms Turn Down Greensill Auditing Role

PYMNTS

A number of large accounting groups have turned down requests to audit Greensill Capital as the SoftBank -backed firm mulls a stock market listing, the Financial Times (FT) reported. The United Kingdom-based organization has become one of the most highly valued private finance firms in the nation as of its 2011 establishment.

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Groupon Gets New Activist Investor

PYMNTS

Merage and his company, MIG Capital , based in Newport Beach, California, disclosed the 5 percent stake in the eCommerce company, the reason for which was that the stock was “undervalued, and represented an attractive investment opportunity,” he said. He is also seeking a seat on Groupon’s board. Groupon shares closed at $2.375 on Monday, 1.3

Capital 130
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GameStop's Top Investor Sees Epic Battle With Amazon

PYMNTS

Bloomberg reported that Ryan Cohen , who now owns a nearly 10 percent stake in GameStop, is in talks with management, several board members and his own RC Ventures to have the gaming company sell a wider range of merchandise. In 2011, Cohen started Chewy.com and went on to serve as CEO.

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