The conditions for using models must be defined, monitored and managed. Model usage must be treated as an integral part of model management because the appropriate usage of a model is independent from the quality of such model.
3.5.2
Institutions must develop policies to manage model usage. At a minimum, the following must be included: (i) the definition of the expected usage, (ii) the process to control this usage, (iii) the governance surrounding the override of model inputs and outputs, and (iv) the management of user feedback.
3.5.3
Institutions must pay particular attention to circumstances under which model results are overridden. They must establish a clear, approved and controlled policy to govern overrides. This requirement is applicable to all models.