The purpose of model risk management is to make it possible to achieve business goals with an acceptable level of uncertainty resulting from the application of models in the Bank’s activities. The Bank strives for the widest possible use of models in its processes to achieve automation of the decision-making process and minimise the role of the human factor. The Bank shapes the model risk management process in a way which ensures that the goal in question is achieved. The model risk management process assesses compliance of the model risk level with the adopted risk tolerance, and measures are taken in order to limit this level. The stages of the process are: identification, measurement, monitoring, control and reporting of the model risk. The model risk management process is carried out at the level of individual models as well as at the level of the model portfolio.