SR 11-7 Readiness
Complete model risk management aligned with the Federal Reserve and OCC's most critical guidance for AI and model governance.
What SR 11-7 Requires
SR Letter 11-7, issued by the Federal Reserve and adopted by the OCC, establishes the supervisory expectations for model risk management at US financial institutions. It requires banks to maintain complete model inventories, conduct independent validation, implement ongoing monitoring, and establish board-level governance structures.
The guidance applies across the full model lifecycle — from development and implementation to validation, monitoring, and decommissioning. Institutions must demonstrate effective challenge, independent review, and documented governance practices.
How Saillent Helps
Our five-tier governance framework maps directly to SR 11-7 requirements:
Who This Applies To
SR 11-7 applies to all US financial institutions supervised by the Federal Reserve and OCC — including national banks, state-chartered banks, and bank holding companies. The FDIC, SEC, CFPB, and FINRA increasingly reference these standards.