The Model Risk Management (MRM) team serves as a 2nd line of defense, and our mission is to be a trusted partner in modeling and risk management, challenge models and deliver transparency for a common interest across the organization, deliver model risk as a competitive advantage that benefits our members, manage model risk, not eliminate it, and collectively become a modeling 'Center of Excellence' for the enterprise. MRM is responsible for maintaining a governance framework that standardizes model risk activities from model development through retirement. MRM uses control processes to ensure sound model risk management across all model lifecycle activities.