T339 · SR 26-02 · Model Risk Management · AP2 Export

SR 26-02 Model Risk Management Gap Analyzer

Assess your banking organization's model risk management (MRM) program against the revised Interagency Guidance on Model Risk Management (SR 26-02 / OCC 2026-13 / FDIC FIL-2026), issued April 17, 2026 by the Federal Reserve, OCC, and FDIC, which replaced SR 11-7 (2011). Generates a gap score across five domains, remediation priority matrix, and AP2 policy mandate export.

Issued April 17, 2026 Replaces SR 11-7 (2011) Five-Domain Gap Analysis · AP2 Export Fed · OCC · FDIC Joint Guidance Client-Side · Zero PII · CC BY 4.0

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Step 01 Institution Profile & Proportionality Tier

SR 26-02 Proportionality — The new guidance is principles-based and explicitly proportional. Organizations with total assets >$30B are expected to apply the full framework. Smaller organizations should apply principles scaled to their model risk profile.

Total assets (USD billions) Determines SR 26-02 proportionality tier (>$30B = full application expected)

Primary regulator

Institution type

Number of models in inventory Total count of models subject to MRM governance

Step 02 Five-Domain SR 26-02 Assessment

Domain A — Model Development & Implementation

Model documentation completeness (%)

65%

% of models with full technical documentation (purpose, assumptions, limitations, theoretical basis)

Conceptual soundness review cadence

Domain B — Model Validation

Validation independence (separate function)?

% of models validated in last 36 months

55%

Validation findings remediation tracking

Third-party/vendor model validation

Domain C — Model Inventory & Classification

Model inventory completeness & currency

Model risk tiering / materiality classification

Domain D — Governance & Oversight

Board-level model risk committee?

Model risk appetite / limit framework

MRM policy coverage

Model change management process

Domain E — Outcome Analysis & Ongoing Monitoring

Outcome analysis / backtesting frequency

Performance benchmarking against alternatives

Note on Agentic AI & GenAI — SR 26-02 does not yet provide specific guidance for agentic AI systems or generative AI models. Supervisory expectations for these model types are under development. Organizations using LLMs, foundation models, or autonomous agents should apply SR 26-02 principles as a minimum baseline and monitor forthcoming regulatory guidance.

SR 26-02 Gap Analysis Results

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Proportionality Tier & Application

Gap Score by Domain

Overall MRM readiness score —

Key Gaps vs. SR 26-02 Principles

Remediation Priority Matrix

Domain	Gap	Priority	Suggested Action

AP2 v1.0 · @ainumbers.co/sr2602-mrm-gap-analyzer-v1

Regulatory Sources

[1]SR 26-02 / FRB SR Letter 26-02: Interagency Guidance on Model Risk Management (Federal Reserve, OCC, FDIC — April 17, 2026). Replaces SR 11-7 (2011).

[2]OCC Bulletin 2026-13: Model Risk Management — Interagency Guidance (Office of the Comptroller of the Currency, April 17, 2026).

[3]FDIC FIL-2026: Interagency Guidance on Model Risk Management (FDIC, April 17, 2026).

[4]SR 11-7 (superseded): Guidance on Model Risk Management (Federal Reserve, April 4, 2011).

[5]BCBS 239: Principles for Effective Risk Data Aggregation and Risk Reporting (Basel Committee, January 2013) — complementary framework.