What Is Model Inventory?
Model Inventory is a complete, maintained catalogue of the models an organisation uses, recording each model's purpose, owner, risk tier, data, and validation status to support oversight and accountability.
Model Inventory — a complete, maintained catalogue of the models an organisation uses, recording each model's purpose, owner, risk tier, data, and validation status to support oversight and accountability.
You cannot govern what you have not catalogued. A model inventory is the governance backbone of model risk management — the Federal Reserve's revised guidance (SR 26-2) expects it to give enterprise-level visibility into model concentrations and dependencies, not just serve as a list. It differs from a model registry, which is the technical system that stores and versions models; the inventory is the governance record built on top.
Source: Federal Reserve SR 26-2 / SR 11-7; model risk management practice
Plain-language explanation
You cannot govern what you have not catalogued. A model inventory is the governance backbone of model risk management — the Federal Reserve's revised guidance (SR 26-2) expects it to give enterprise-level visibility into model concentrations and dependencies, not just serve as a list. It differs from a model registry, which is the technical system that stores and versions models; the inventory is the governance record built on top.
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