Manager Model Validation

Responsibilities • Model Validation : Assess the appropriateness and construction of models with respect to their current or planned use in order to determine the level of model risk associated, its assumptions, mathematical implementation, the underlying data and its system implementation Review appropriate model risk assessments consistent with the model s risk content and intended usage in order to produce a validation report according to the policy and format including identification of model limitations, assumptions, conditions for model use and level of model risk Obtain and provide information on models, communicate model risk issues and suggestions during the validation process, reporting on findings to ensure effective two-way communication with the Model Owners/Developers/Users set expectations.