Mathematical Finance & Financial Data Science Seminar

What is Model Risk Management? Regulatory Guidance for Model Developers

Speaker: Ben Steiner, Global Fixed Income, BNP Paribas Asset Management

Location: 60 Fifth Avenue 527

Date: Wednesday, March 4, 2020, 3:30 p.m.


This talk introduces students who have technical skills (statistics techniques, algorithms, programming, etc) but haven't worked in the industry so may be surprised that there are other requirements for model development in regulated industries.
The presentation will focus on things that model validators and regulators ask for, including assumptions / limitations / weaknesses of models; model testing; what makes good documentation, etc.
The outcome of this presentation will be an understanding of what it means to be a model developer in today's financial environment given the requirements of regulators, auditors, and model validators.
Bio - Ben Steiner
Ben Steiner has spent his career in the application of machine learning and model risk management for investment firms.  His experience combines hands-on technologies, implementing governance frameworks and delivering strategic projects.
In his current role, Ben has chief-of-staff responsibilities in the Global Fixed Income division of BNP Paribas Asset Management (BNPP AM).  He focuses on strategic priorities that help BNPP AM deliver long-term sustainable returns for our clients.
Earlier in his career, Ben was a Head of Model Development, Portfolio Manager & Quant Researcher at investment managers and quantitative hedge funds.  This experience covered model development in multiple asset classes ranging from the traditionally illiquid (Private Debt and Real Estate) to trading strategies in liquid public markets (Equity Long/Short Absolute Return Fixed Income, Managed Futures and Global Macro).
He holds a BA (Hons) Economics from the University of Manchester and an MSc Mathematical Finance from Imperial College, London.
Since 2013 Ben has served on the Board of Directors of the Society of Quantitative Analysts (SQA) and chaired the 2017 conference titled "AI/ML: Help, Hope or Hype?"  Ben is a frequently invited speaker to computational finance and machine learning events and has made over 50 presentations globally.  Since Jan 2020, Ben is now an Adjunct Lecturer at Columbia teaching a course on quantitative modelling.


Non-NYU attendees need to email Daisy Calderon,, by March 2 to be added to the guest list in order to get access to the building.