Being a member of the Model Risk Management (MRM) Team, the Model Validation Associate Director is responsible for overseeing enterprise-wide MRM and supporting front-line units in leading model risk. MRM provides oversight of day-to-day activities to identify, measure, monitor, and handle risk related to the design, development, and implementation and use of models. Per the Federal Reserve Supervision and Regulator guidance (SR 11-7), Model Validation is the set of processes and activities intended to verify that models are performing as expected, in line with their design objectives and business uses. Effective validation helps to ensure models are sound, identifying potential limitations and assumptions and assessing their possible impact. All model components, inputs, processing, outputs, and reports, are subject to validation and applies equally to models developed in-house and to those purchased from or developed by vendors or consultants. The Model Validation team is also responsible for evaluating the Model Performance Monitoring Plan for each model, and continuously assessing the results.