Model Risk Directory is a procurement-grade reference for bank and insurer model risk management. Understand what SR 26-2, SR 11-7, OCC Bulletin 2011-12/2026-13, PRA SS1/23, and the ECB Guide to Internal Models actually require, learn exactly what to verify before you retain an independent model validation firm, and explore a sourced reference to the real advisory firms and MRM governance software vendors active in the space. Procurement support, not a compliance guarantee.https://modelriskdirectory.com/en-ushttps://modelriskdirectory.com/frameworks/ecb-guide-to-internal-models/https://modelriskdirectory.com/frameworks/ecb-guide-to-internal-models/The Guide explains how the ECB interprets applicable EU and national law on internal models, creating a level playing field across significant institutions directly supervised by European banking supervision. It was originally developed through TRIM, a large-scale project (2016-2021) combining detailed methodological work with roughly 200 on-site internal model investigations at 65 institutions, and covers credit risk, market risk, and counterparty credit risk models along with general model governance topics.https://modelriskdirectory.com/frameworks/occ-2011-12/https://modelriskdirectory.com/frameworks/occ-2011-12/OCC Bulletin 2011-12, 'Supervisory Guidance on Model Risk Management,' articulated the elements of a sound program for managing risk from quantitative models used in bank decision-making. Its text was substantively identical to the Federal Reserve's SR 11-7, reflecting that both agencies developed the guidance jointly, and it applied to national banks and federal savings associations supervised by the OCC.https://modelriskdirectory.com/frameworks/pra-ss1-23/https://modelriskdirectory.com/frameworks/pra-ss1-23/SS1/23 applies to UK-incorporated banks, building societies, and PRA-designated investment firms that have internal model approval to calculate regulatory capital requirements under Internal Ratings Based (credit risk), Internal Model Approach (market risk), or Internal Model Method (counterparty credit risk) approaches. It sets out five principles the PRA expects firms to embed as a strategic model risk discipline in its own right, comparable in spirit to SR 11-7/SR 26-2 but issued independently by the UK's prudential regulator.https://modelriskdirectory.com/frameworks/sr-11-7/https://modelriskdirectory.com/frameworks/sr-11-7/Issued April 4, 2011 jointly with the OCC (as Bulletin 2011-12), SR 11-7 set out supervisory expectations for how banks should manage the risk that quantitative models produce incorrect or misused results. It organized model risk management around three pillars: model development, implementation, and use; model validation; and governance, policies, and controls, and introduced 'effective challenge' as the guiding principle for meaningful independent review.https://modelriskdirectory.com/frameworks/sr-26-2/https://modelriskdirectory.com/frameworks/sr-26-2/SR 26-2 (issued by the Federal Reserve as a Supervisory Letter, and simultaneously as OCC Bulletin 2026-13 and an FDIC Financial Institution Letter) reflects fifteen years of supervisory experience since SR 11-7 and updates model risk management expectations for a risk-based, tailored era. It is expected to be most relevant to banking organizations with over $30 billion in total assets. The guidance retains the three foundational pillars, model development and use, validation and ongoing monitoring, and governance and controls, while replacing SR 11-7's de facto annual review cycle with revalidation frequency tied to model materiality, change velocity, and data availability, and expanding attention to vendor and third-party models.https://modelriskdirectory.com/guides/model-risk-management/https://modelriskdirectory.com/guides/model-risk-management/What model risk management advisory firms actually do, what to verify before you retain one, RFP questions to ask, and red flags. Grounded in SR 26-2, SR 11-7, and OCC guidance.https://modelriskdirectory.com/guides/model-risk-management-framework/https://modelriskdirectory.com/guides/model-risk-management-framework/How to design or audit a model risk management framework under SR 26-2: inventory, tiering, governance, and validation structure. What to verify before you sign off.https://modelriskdirectory.com/guides/model-risk-validation/https://modelriskdirectory.com/guides/model-risk-validation/What independent model validation covers under SR 26-2/SR 11-7, methods used (conceptual soundness, benchmarking, outcomes analysis), and what to verify before you retain a validator.https://modelriskdirectory.com/guides/occ-model-risk-management/https://modelriskdirectory.com/guides/occ-model-risk-management/What OCC-supervised banks need to know now that OCC Bulletin 2011-12 was rescinded and replaced by Bulletin 2026-13. What to verify before an exam, and how to source a firm.https://modelriskdirectory.com/guides/model-risk-management-software/https://modelriskdirectory.com/guides/model-risk-management-software/What MRM governance software actually does, how to evaluate model inventory and validation-workflow platforms, RFP questions, and red flags. Grounded in real vendor research.https://modelriskdirectory.com/guides/sr-11-7-compliance/https://modelriskdirectory.com/guides/sr-11-7-compliance/SR 11-7 was rescinded April 17, 2026 and replaced by SR 26-2. What that means for your MRM program, what examiners now expect, and how to update your compliance approach.