• Ensure bank wide compliance with the Model Risk Policy (go live January 2021) and related Minimum Standards
• Maintain central complete inventory of all models within the Bank, with a complete model documentation.
• Ensure model life cycles are followed by model owners, including periodic reviews and updates.
• Ensure identification and proper classification of all models, challenge model owners bankwide
• Perform model health assessments
• Define and propose Model Risk appetite
• Make an annual consolidated model risk assessment and report to ROC
• Perform 2nd line validation activities on credit risk non-regulatory models and all other non-credit models
• Maintain communication with external validators when appropriate