Public Mortgage Lender (Illustrative Profile)
Financial Services Assessment
What governance framework is in place for AI model development, validation, and ongoing monitoring — including alignment with OCC SR 11-7 or equivalent model risk management standards?
Evidence: Documented MRM framework with committee charter, meeting minutes, SR 11-7 alignment evidence
Are all AI/ML models and systems documented in a formal inventory with version control and ownership tracking?
Evidence: Model registry document with deployment status, ownership, validation dates
Is there an independent model risk management function (separate from model development) that validates AI models before and after deployment?
Evidence: MRM charter, organizational chart showing independence, validation reports
Live Risk Score
Dimensions