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About ValidMind
Published
June 27, 2025
ValidMind is a suite of tools helping developers, data scientists and risk and compliance stakeholders identify potential risks in their AI and large language models, and generate robust, high-quality model documentation that meets regulatory requirements.
Adept at handling many use cases, including models compatible with the Hugging Face Transformers API, and GPT 3.5, GPT 4, and hosted LLama2 and Falcon-based models (focused on text classification and text summarization use cases), ValidMind is purpose-built for model risk management teams.
In addition to LLMs, ValidMind can also handle testing and documentation generation for a wide variety of models, including:
Traditional machine learning models (ML), such as tree-based models and neural networks
Natural language processing models (NLP)
Traditional statistical models, such as OLS regression, logistic regression, time series, etc.
And many more model types
What sets ValidMind apart is its focus on simplifying complex tasks for both model developers and validators. By automating critical and often tedious aspects of the model lifecycle, such as documentation, validation, and testing, we enable model developers to concentrate on building better models.
We do all of this while making it easy to align with regulatory guidelines on model risk management in the United States, the United Kingdom, and Canada. These regulations include the Federal Reserve’s SR 11-7, the UK’s SS1/23 and CP6/22), and Canada’s Guideline E-23.
ValidMind is designed to streamline the management of risk for AI models, including those used in machine learning (ML), natural language processing (NLP), and large language models (LLMs).
ValidMind offers tools that cater to both model developers and validators, simplifying key aspects of model risk management.
What do I use ValidMind for?
Model developers and validators play important roles in managing model risk, including risk that stems from generative AI and machine learning models. From complying with regulations to ensuring that institutional standards are followed, your team members are tasked with the careful documentation, testing, and independent validation of models.
The purpose of these efforts is to ensure that good risk management principles are followed throughout the model lifecycle. To assist you with these processes of documenting and validating models, ValidMind provides a number of tools that you can employ regardless of the technology used to build your models.
The two main components of ValidMind. The ValidMind Library that integrates with your existing developer environment, and the ValidMind Platform.
The ValidMind AI Risk Platform provides two main product components:
The ValidMind Library is a Python library of tools and methods designed to automate generating model documentation and running validation tests. The library is designed to be platform agnostic and integrates with your existing development environment.
For Python developers, a single installation command provides access to all the functions:
%pip install validmind
The ValidMind Platform is an easy-to-use web-based interface that enables you to track the model lifecycle:
Customize workflows to adhere to and oversee your model risk management process.
Review and edit the documentation and test metrics generated by the library.
Collaborate with and capture feedback from model developers and model validators.
Generate validation reports and approvals.
Key ValidMind concepts
model documentation
A structured and detailed record pertaining to a model, encompassing key components such as its underlying assumptions, methodologies, data sources, inputs, performance metrics, evaluations, limitations, and intended uses.
Within the realm of model risk management, this documentation serves to ensure transparency, adherence to regulatory requirements, and a clear understanding of potential risks associated with the model’s application.
validation report
A formal document produced after a model validation process, outlining the findings, assessments, and recommendations related to a specific model’s performance, appropriateness, and limitations. Provides a comprehensive review of the model’s conceptual framework, data sources and integrity, calibration methods, and performance outcomes.
Within model risk management, the validation report is crucial for ensuring transparency, demonstrating regulatory compliance, and offering actionable insights for model refinement or adjustments.
documentation template
Functions as a test suite and lays out the structure of model documentation, segmented into various sections and sub-sections. Documentation templates define the structure of your model documentation, specifying the tests that should be run, and how the results should be displayed.
validation report template
Serves as a standardized framework for conducting and documenting model validation activities. It outlines the required sections, recommended analyses, and expected validation tests, ensuring consistency and completeness across validation reports. The template helps guide validators through a systematic review process while promoting comparability and traceability of validation outcomes.
ValidMind templates come with pre-defined sections, similar to test placeholders, including boilerplates and spaces designated for test results, evidence, or findings.
test
A function contained in the library, designed to run a specific quantitative test on the dataset or model. Test results are sent to the ValidMind Platform to generate the model documentation according to the template that is associated with the documentation.
Tests are the building blocks of ValidMind, used to evaluate and document models and datasets, and can be run individually or as part of a suite defined by your model documentation template.
metrics, custom metrics
Metrics are a subset of tests that do not have thresholds. Custom metrics are functions that you define to evaluate your model or dataset. These functions can be registered via the ValidMind Library to be used with the ValidMind Platform.
In the context of ValidMind’s Jupyter Notebooks, metrics and tests can be thought of as interchangeable concepts.
inputs
Objects to be evaluated and documented in the ValidMind Library. They can be any of the following:
model: A single model that has been initialized in ValidMind with vm.init_model(). See the Model Documentation or the for more information.
dataset: Single dataset that has been initialized in ValidMind with vm.init_dataset(). See the Dataset Documentation for more information.
models: A list of ValidMind models - usually this is used when you want to compare multiple models in your custom tests.
datasets: A list of ValidMind datasets - usually this is used when you want to compare multiple datasets in your custom tests. (Learn more: [Run tests with multiple datasets(/notebooks/how_to/run_tests_that_require_multiple_datasets.ipynb)])
parameters
Additional arguments that can be passed when running a ValidMind test, used to pass additional information to a test, customize its behavior, or provide additional context.
outputs
Custom tests can return elements like tables or plots. Tables may be a list of dictionaries (each representing a row) or a pandas DataFrame. Plots may be matplotlib or plotly figures.
test suite
A collection of tests which are run together to generate model documentation end-to-end for specific use cases.
For example, the classifier_full_suite test suite runs tests from the tabular_dataset and classifier test suites to fully document the data and model sections for binary classification model use cases.
On the ValidMind Platform, everything starts with the model inventory — you first register a new model and then manage the model lifecycle through the different activities that are part of your existing model risk management processes.
Approval workflow
A typical high-level model approval workflow looks like this:
graph LR
A[Model<br>registration] --> B[Initial<br>validation]
B --> C[Validation<br>approval]
C --> D[In production]
D --> E[Periodic review<br>and revalidation]
E --> B
Select a documentation template when registering a new inventory model to start your model documentation. You then use the model inventory to manage the metadata associated with the model, including all compliance and regulatory attributes.
Initial validation
Triggers a new workflow2 to yield a model that will be ready for production deployment after its documentation and validation reports have been approved.
Perform validation of the model to ensure that it meets the needs for which it was designed. You can also connect to third-party systems to send events when a model has been approved for production.
In production
Use the model in production while ensuring its ongoing reliability, accuracy, and compliance with regulations by monitoring the model’s performance.
Periodic review and revalidation
As part of regular performance monitoring or change management, you follow a process similar to that seen in the Initial validation step.
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