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This paper presents a comprehensive overview of model validation practices and advancement in the banking industry based on the experience of managing Model Risk Management (MRM) since the inception of regulatory guidance SR11-7/OCC11-12…

Computers and Society · Computer Science 2024-11-12 Agus Sudjianto , Aijun Zhang

Validation is often defined as the process of determining the degree to which a model is an accurate representation of the real world from the perspective of its intended uses. Validation is crucial as industries and governments depend…

Data Analysis, Statistics and Probability · Physics 2015-06-26 D. Sornette , A. B. Davis , K. Ide , K. R. Vixie , V. Pisarenko , J. R. Kamm

The validation of a data-driven model is the process of assessing the model's ability to generalize to new, unseen data in the population of interest. This paper proposes a set of general rules for model validation. These rules are designed…

Methodology · Statistics 2026-01-30 José Camacho

In this paper, we discuss aspects of model risk management in financial institutions which could be adopted by academic institutions to improve the process of conducting academic research, identify and mitigate existing limitations,…

Risk Management · Quantitative Finance 2024-06-24 Mahmood Alaghmandan , Olga Streltchenko

Domain generalization aims to learn a model with good generalization ability, that is, the learned model should not only perform well on several seen domains but also on unseen domains with different data distributions. State-of-the-art…

Machine Learning · Computer Science 2023-04-04 Boyang Lyu , Thuan Nguyen , Matthias Scheutz , Prakash Ishwar , Shuchin Aeron

Despite the general consensus in transport research community that model calibration and validation are necessary to enhance model predictive performance, there exist significant inconsistencies in the literature. This is primarily due to a…

Methodology · Statistics 2023-09-18 Samson Ting , Thomas Lymburn , Thomas Stemler , Yuchao Sun , Michael Small

Our lives become increasingly dependent on safety- and security-critical systems, so formal techniques are advocated for engineering such systems. One of such techniques is validation obligations that enable formalizing requirements early…

Logic in Computer Science · Computer Science 2022-07-08 Sebastian Stock , Atif Mashkoor , Alexander Egyed

Used to estimate the risk of an estimator or to perform model selection, cross-validation is a widespread strategy because of its simplicity and its apparent universality. Many results exist on the model selection performances of…

Statistics Theory · Mathematics 2011-02-01 Sylvain Arlot , Alain Celisse

This paper argues that modelling the development methodologies can improve the multi-agents systems software engineering. Such modelling allows applying methods, techniques and practices used in the software development to the methodologies…

Software Engineering · Computer Science 2014-08-26 Ammar Lahlouhi

The quality and correct functioning of software components embedded in electronic systems are of utmost concern especially for safety and mission-critical systems. Model-based testing and formal verification techniques can be employed to…

Formal Languages and Automata Theory · Computer Science 2019-01-08 Shahbaz Ali , Hailong Sun , Yongwang Zhao

We introduce a framework for calibrating machine learning models so that their predictions satisfy explicit, finite-sample statistical guarantees. Our calibration algorithms work with any underlying model and (unknown) data-generating…

Machine Learning · Computer Science 2022-10-03 Anastasios N. Angelopoulos , Stephen Bates , Emmanuel J. Candès , Michael I. Jordan , Lihua Lei

The workshop is devoted to model-based testing of both software and hardware. Model-based testing uses models describing the required behavior of the system under consideration to guide such efforts as test selection and test results…

Software Engineering · Computer Science 2015-04-09 Nikolay Pakulin , Alexander K. Petrenko , Bernd-Holger Schlingloff

Validation is often defined as the process of determining the degree to which a model is an accurate representation of the real world from the perspective of its intended uses. Validation is crucial as industries and governments depend…

Computational Physics · Physics 2016-09-08 Didier Sornette , Anthony B. Davis , James R. Kamm , Kayo Ide

The aim of this article is to present the application of a trend validation to validate a simulation model. The workstation parameter used to define the trend is the table height of simulated meat cutting tasks (well known to be related to…

Medical Physics · Physics 2012-12-17 Charles Pontonnier , Mark De Zee , Afshin Samani , Georges Dumont , Pascal Madeleine

This article presents a Verification and Validation approach which is used here in order to complete the classical tool box the industrial user may utilize in Enterprise Modeling and Integration domain. This approach, which has been defined…

Software Engineering · Computer Science 2009-01-26 Vincent Chapurlat , Bernard Kamsu Foguem , François Prunet

Machine learning (ML) models are applied in an increasing variety of domains. The availability of large amounts of data and computational resources encourages the development of ever more complex and valuable models. These models are…

Cryptography and Security · Computer Science 2021-12-09 Franziska Boenisch

A key question in evaluation of computer models is Does the computer model adequately represent reality? A six-step process for computer model validation is set out in Bayarri et al. [Technometrics 49 (2007) 138--154] (and briefly…

The increasing use of model-based tools enables further use of formal verification techniques in the context of distributed real-time systems. To avoid state explosion, it is necessary to construct verification models that focus on the…

Distributed, Parallel, and Cluster Computing · Computer Science 2016-11-18 Chih-Hong Cheng , Christian Buckl , Javier Esparza , Alois Knoll

This paper provides an introduction and overview of recent work on control barrier functions and their use to verify and enforce safety properties in the context of (optimization based) safety-critical controllers. We survey the main…

Systems and Control · Computer Science 2019-03-28 Aaron D. Ames , Samuel Coogan , Magnus Egerstedt , Gennaro Notomista , Koushil Sreenath , Paulo Tabuada

Probabilistic classifiers output a probability distribution on target classes rather than just a class prediction. Besides providing a clear separation of prediction and decision making, the main advantage of probabilistic models is their…

Machine Learning · Computer Science 2019-02-20 Juozas Vaicenavicius , David Widmann , Carl Andersson , Fredrik Lindsten , Jacob Roll , Thomas B. Schön
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