Large Bank Examination Workshop February 2026

Key Components of a MRM Policy 2. Model inventory and management: • Comprehensive inventory: Requires the bank to maintain a complete inventory of all models in use, under development, or recently retired. • Model attributes: Specifies the documentation of key model attributes, such as the model's purpose, inputs, outputs, identified risks, and current status.

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Key Components of a MRM Policy 3. Model development and implementation: • Development standards: Sets standards for model development, including requirements for documentation, data quality, and testing. • Implementation controls: Outlines controls for deploying models into production to ensure they are used as intended. • Third-party models: Incorporates the use of vendor or third party models into the bank's MRM framework.

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