Model risk management

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Pensions assurance
A tailored service that responds to evolving risks and regulations.
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Respond: Data breach, incident response and computer forensics
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Cyber security regulation and compliance is constantly evolving. Our team can support you through the digital landscape.
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Cyber security threats are constantly evolving. We’ll work with you to develop and test robust people, process and technology defences to protect your data and information assets.

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Transaction advisory services
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Help to understand or support the valuation of a business or asset.

Environmental, social and governance (ESG)

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The ESG agenda
Shape your ESG agenda by identifying the right metrics, sustainable development and potential business value impact.
ESG driven business transition
Whatever your ESG strategy, we can support your organisation as it evolves while maximising efficiency and profitability.
ESG programme and change management
Do you have the right capabilities to drive the delivery of your ESG strategy to realise your targets?
ESG risk management
You must protect, comply, understand and influence to successfully manage the risk involved with ESG issues. We can help.
ESG strategy, risk and opportunity identification
We can help you clearly define your ESG Strategy, with the risks and opportunities identified and managed.
Create value through effective ESG communication
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ESG metrics, targets and disclosures
The pressure to report your ESG progress is growing. Do your targets measure up?
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Make the most of ESG opportunities by effectively embedding your strategy across your organisation.
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Business risk services
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Forensic and investigation services

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Monitoring trustee and competition services
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Insolvency and global asset recovery

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Contentious estates and family disputes
We manage complex and sensitive disputes through to resolution.
Digital Asset Recovery
Get guidance and technical expertise on digital finance and cryptoasset recovery from our dedicated crypto hub.
Grant Thornton Offshore
Grant Thornton Offshore is our one-stop global solution for insolvency, asset recovery, restructuring and forensics services.
Insolvency Act Portal
Case information and published reports on insolvency cases handled by Grant Thornton UK LLP.
Litigation support
Industry-wide litigation support and investigation services for lawyers and law firms.
Personal insolvency
We can support you to maximise personal insolvency recovery and seek appropriate debt relief.

International

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South Asia business group
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Japan business group
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Africa business group
Connecting you to the right local teams in the UK, Africa, and the relevant offshore centres.
China-Britain business group
Supporting your operations across the China – UK economic corridor.

Restructuring

Our restructuring team help lenders, investors and management navigate contingency plans, restructuring and insolvency.

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Asset based lending advisory
Helping lenders, their clients and other stakeholders navigate the complexities of ABL.
Contingency planning and administrations
In times of financial difficulty, it is vital that directors explore all the options that are available to them, including having a robust ‘Plan B’.
Corporate restructuring
Corporate restructuring can be a difficult time. Let our team make the process simple and as stress-free as possible.
Creditor and lender advisory
Whether you're a creditor or lender, complex restructurings depend on pragmatic commercial advice
Debt advisory
Our debt advisory team can find the right lender to help you in restructuring. Find out how our experts can support you.
Financial services restructuring and insolvency
Financial services restructuring and insolvency is a competitive marketplace. Our team can help you navigate this space.
Pensions advisory services
DB pension-schemes need a balanced approach that manages risk for trustees and sponsors in an uncertain economy.
Restructuring and insolvency tax
Tax will often be crucial in a plan to restructure a distressed business. Our team can guide you through the process.
Restructuring Plans
Market leading experience in advising companies and creditors in Restructuring Plan processes.

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Risk

Meet risks with confidence and transform your business – we support you to manage risk and deliver on your goals.

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Controls advisory
Build a robust internal control environment in a changing world.
Data assurance and analytics
Enhancing your data processes, tools and internal capabilities to help you make decisions on managing risk and controls.
Enterprise risk management
Understand and embrace enterprise risk management – we help you develop and connect risk thinking to your objectives.
Internal audit services
Internal audit services that deliver the value and impact they should.
Managing risk and realising ESG opportunities
Assess and assure risk and opportunities across ESG with an expert, commercial and pragmatic approach.
Project, programme, and portfolio assurance
Successfully delivering projects and programmes include preparing for the wider impact on your business.
Service organisation controls report
Independent assurance provides confidence to your customers in relation to your services and control environment.
Supplier and contract assurance
Clarity around key supplier relationships: focusing on risk, cost, and operational performance.
Technology risk services
IT internal audits and technology risk assurance projects that help you manage your technology risks effectively.

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Tax

Tax has always been complicated, but it's more important than ever to understand how the evolving tax landscape impacts you and your business.

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Capital allowances (tax depreciation)
Advisory and tools to help you realise opportunities in capital allowances.
Corporate tax
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We advise clients on tax law in the UK and, where relevant, other jurisdictions.
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Tax dispute resolution
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Tax risk management
We work with you to develop effective tax risk management strategies.

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Tap into our range of support for travel, tourism and leisure businesses in this period of challenge and change.
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Financial services

Regulatory change, pressure on cost management and growth, and increased investment in technology and data are dominating the financial services industry.

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Banking
Our expertise and insight can help you respond positively to long term and emerging issues in the banking sector.
Capital markets
2020 is a demanding year for capital markets. Working with you, we're architecting the future of the sector.
Insurance
Our experienced expert team brings you technical expertise and insight to guide you through insurance sector challenges.
Investment management
Embracing innovation and shaping business models for long-term success.
Pensions
Pension provision is an essential issue for employers, and the role of the trustee is becoming increasingly challenging.

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Government and public sector

The pandemic is an unprecedented challenge for the public sector. The right strategic support is vital.

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Central and devolved government
Helping central and devolved governments deliver change to improve our communities and grow our economies.
Infrastructure and transport
Delivering a successful transport or infrastructure project will require you to balance an often complex set of strategic issues.
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Helping local government leverage technical and strategic expertise deliver their agendas and improve public services.
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We provide commercial and strategic advice to assist your decision making in pursuing your objectives.
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Not for profit

Helping charities, education, social housing and other organisations to overcome pressures and achieve their goals.

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Charities
Supporting you to achieve positive change in the UK charity sector.
Education and skills
The education sector has rarely faced more risk or more opportunity to transform. You need to plan for the future.
Social housing
We are committed to helping change social housing for the better, and can help you make the most of every opportunity.

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Private sector healthcare

Our team brings clear and actionable solutions to the private sector healthcare, helping companies achieve their goals.

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Real estate and construction

The expertise you need in real estate advisory, audit, and tax to get the right strategy for your business.

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Technology, media and telecommunications (TMT)

Are you ready to deliver on your growth ambitions? We work with TMT leaders to navigate the risks and opportunities.

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Technology
We work with dynamic technology companies of all sizes to help them succeed and grow internationally.
Telecommunications
Take all opportunities to realise your goals in telecommunications: from business refresh to international expansion.
Media
Media companies must stay agile to thrive in today’s highly competitive market – we’re here to support your ambitions.

Model risk management (MRM) continues to be a key concern across the financial services sector.

The widespread use of complex models across financial services organisations and the subsequent risk that inadequate design or implementation could pose to the safety of firms and their financial stability has led to elevated scrutiny from regulators. Their aim is to strengthen the governance and understanding of model risk.

This rapidly changing and rigorous regulatory environment has increased the demand on organisations to demonstrate robust management of model risk.

Key dates

17 May 2024: SS1/23 implementation deadline for in-scope banks, building societies, and designated investment firms

1 July 2025: UK implementation of Basel 3.1, including the Fundamental Review of the Trading Book (FRTB)

Get in touch

Partner, Business Risk Services, Financial Services Group

Rob Benson

Contact Rob Benson Learn more about Rob Benson

How we can help

Our market-driven model risk experience can help your management team understand your models and provide assurance that they're being used for the purpose for which they were intended. We have a successful track record providing a broad range of MRM services to our clients.

While building MRM frameworks will need a different approach for each firm, we've identified the best ways to support, including:

MRM framework: developing structured and robust frameworks
MRM maturity assessment: a tool for evaluating an organisation’s progress toward its model risk management goals
Model development services: specialist resources to support your model development activities
Model validation services: confirming that an institution’s model is aligned with business and regulatory expectations
Model implementation/change services: developing or enhancing model implementation processes and controls, as part of a wider model risk management framework
Controls and governance services: support in the design of model risk-appetite statement and associated model risk lifecycle policies, standards, and procedures, including model change control procedures
Data: supporting data management, data science solutions, data analytics, and predictive modelling
Resource augmentation: additional specialist resources to help the existing team
S166 and S166 preparations

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