Institutions must have a process in place to ensure that model functionalities are working as expected during ongoing utilisation. The objective is to ensure that models have been designed, calibrated and implemented successfully.
8.5.2
The user feedback must cover the model functionalities, stability and consistency of output against economic and business expectations. The user feedback must be documented and reported as part of the monitoring and validation steps of the model life-cycle. If model users are different from model developers, institutions must have a process in place to collect feedback from the identified model users.