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Peru · Resolution

SBS Model Risk Management Regulation

In forceSBS Res. 053-2023

Summary

Requires banks and insurers to inventory, validate and monitor their models, with a model risk committee. It covers AI models even though it does not name them.

Who it applies to

Multi-service financial firms, investment banks and insurers supervised by the SBS.

Penalties

General SBS enforcement regime.

Official name
Resolución SBS N.° 00053-2023, Reglamento de Gestión de Riesgos de Modelo
Official reference
Resolución SBS N.° 00053-2023, El Peruano, 11 de enero de 2023; cronograma modificado por las Res. SBS 03421-2023 y 03884-2024
Regulator
Superintendency of Banking, Insurance and Pension Funds
Official source
Check the sourceHow we verify sources

Key dates

Obligations and dates

Obligations table
ObligationArticle or citationStatusDateWho it applies toVerification
Model inventory and governance in banking and insuranceRes. SBS 00053-2023, Reglamento de Gestión de Riesgos de Modelo, arts. 5, 6 y 10In forceAlready applicableBanks, multi-service financial firms, investment banks and insurers supervised by the SBS, including models that use AI or machine learning.Verified in the official source on November 4, 2026
Test, validate and monitor modelsRes. SBS 00053-2023, título II, capítulos III a VI, y art. 6In forceAlready applicableSBS-supervised entities that use models, including AI models.Verified in the official source on November 4, 2026

Model inventory and governance in banking and insurance

Res. SBS 00053-2023, Reglamento de Gestión de Riesgos de Modelo, arts. 5, 6 y 10In force

Already applicable

When it relates
Banks, multi-service financial firms, investment banks and insurers supervised by the SBS, including models that use AI or machine learning.
What the rule provides
  • Keep an up-to-date model inventory classified by risk level, including third-party models.
  • Have a model risk committee that meets at least quarterly and an annual report.
Typical evidence
  • Model inventory, committee minutes and annual report
Verification
Verified in the official source on November 4, 2026Checked against the text published by the SBS: art. 1 (scope), art. 5 (model inventory), art. 6.1 (categorize by risk, "including those provided by third parties") and art. 10 (model risk committee). Phased under SBS Res. 03421-2023 and 03884-2024: the last phase, for the financial system's highest-risk operational and AML/CFT models, applies from May 31, 2026. The rule does not mention AI expressly but covers any model for those risks. Applies only to SBS-supervised entities.

Test, validate and monitor models

Res. SBS 00053-2023, título II, capítulos III a VI, y art. 6In force

Already applicable

When it relates
SBS-supervised entities that use models, including AI models.
What the rule provides
  • Test each model before use, validate it periodically and monitor its performance.
  • Remain responsible for models supplied by third parties.
Typical evidence
  • Validation and monitoring reports
Related base documents
Verification
Verified in the official source on November 4, 2026Checked against the text published by the SBS: title II, chapters III-VI (development, validation, deployment, use and monitoring) and art. 6 (scope and frequency of validation by category, including third-party models). Phased in through May 31, 2026 under SBS Res. 03884-2024.

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