SR 11-7 Model Risk Management

Apply Federal Reserve SR 11-7 (and OCC 2011-12) to AI/ML in banking. Learn the model definition (broad enough to cover most ML), the model risk management framework (development, implementation, use, model risk management governance), independent model validation, ongoing monitoring, the role of internal audit, and how supervisors are extending SR 11-7 expectations to AI/ML and generative AI.