Who owns the money? That’s a legitimate question to ask, but as the operator of a financial services company is the question accurate? In legal terms there can be numerous owners of any asset and it is generally broken down into two parts. The equitable owner and the legal owner. For many of us that deal […]
Independent Verification and Validation: The Definition, the Origin and Why You Should Be Doing One
Independent verification and validation, IVV, model validation, validation or; as Shakespeare might say, a validation by any other name is still a validation. Regardless of the name it has evolved and been redefined over time. This article will cover the origin, OCC guidance, regulatory pressure, IVV methodology, reporting, independence, and vendor due diligence in an […]