Model validation provides objective assessment of risk, valuation, or decision models through conceptual soundness review, implementation testing, outcome analysis, and usage monitoring. Validators examine theoretical foundations, data quality, assumptions, limitations, and whether models perform as intended across various conditions. Banks validate credit scoring models by testing predictive accuracy, reviewing statistical methodologies, and ensuring proper calibration. Regulatory frameworks like SR 11-7 require independent validation for models material to decision-making or financial reporting. Validation identifies weaknesses before costly errors occur, documents appropriate use boundaries, and provides governance oversight for model risk management. Findings inform model improvements, usage restrictions, or decommissioning decisions.