Feature Highlight: Model Documentation – Custom Document Types And Document Versioning
ValidMind is the system of record for AI governance and model risk management. You use it to manage the full lifecycle of AI systems, models, use cases, and tools – defining your own governance rules and requirements. But inventory is only half the story. Every record within the AI governance ecosystem generates documentation, and that documentation needs to be controlled, versioned, and audit-ready.
Two features give you that control: custom document types and document versioning. Together, they let you create the exact supporting materials your program requires and preserve them at critical decision points—so when regulators or auditors ask what was reviewed and approved, you have a defensible answer.
Custom document types
Your governance and risk management programs have unique documentation needs, and ValidMind adapts to them.
Out of the box, ValidMind provides three core document types: model documentation, validation reports, and ongoing monitoring reports.
But organizations often require more:
- For AI governance, you might need impact assessments for high-risk AI systems, regulatory filings for EU AI Act compliance, or oversight logs to demonstrate human review.
- For model risk management, you might need SR 11-7 compliance documentation, model risk assessments, or challenger model reports.
With custom document types, you create the artifacts that match your organization’s requirements. Define a new document type, give it a name and description, and configure which stakeholder types have write permissions. You can also set document types to be automatically created when new items are registered in your inventory, reducing manual steps and ensuring nothing falls through the cracks.
Default and custom templates ensure consistency across your organization: link a template to a document type, and every new document of that type starts from the same foundation. This standardization is essential when multiple teams are documenting models and AI systems across different business units.
Document versioning with optional locking
Every governance and risk management decision should be captured and preserved for audit. Document versioning and locking make this possible.
As models and AI systems move through their lifecycle, from development to deployment to monitoring to retirement, documentation evolves. Regulators and auditors need to see what the documentation looked like at key decision points: when a model was approved for production, when a material change was validated, when ongoing monitoring flagged an issue, or when a periodic review was completed.
With document versioning, you are able to designate snapshots of your documents any point of time, capturing the document’s complete state for future reference. These documents are locked as read-only to preserve its state at a critical date, whether that’s an approval milestone, a regulatory examination, a validation cycle completion, or an attestation. Locked documents demonstrate oversight: they show exactly what was reviewed and approved, with no ambiguity about subsequent changes.
Versioning matters for compliance with regulations like the EU AI Act and supervisory guidance like SR 11-7, both of which require organizations to maintain documentation throughout the model and AI system lifecycle and demonstrate that appropriate oversight occurred at each stage.
Complete document control
These two features, custom document types and document versioning, work together to give you complete control over your model documentation. But they’re part of a broader set of capabilities:
- Real-time collaboration with change tracking enables multi-stakeholder review, so model developers, validators, risk teams, and compliance officers can work together on the same document.
- Automated Content Generation for test results and descriptions from the ValidMind Library and customized chat-based prompting via Content Builder assists users in drafting content, accelerating completion of required documentation.
- Reusable text block library ensures consistent language across documents, reducing duplication and maintaining standards.
- Export to PDF or Word makes it easy to share documentation with regulators, boards, and external auditors.
Get started
New to ValidMind? See how ValidMind powers AI governance and model risk management that accelerates your team:
Already using ValidMind? Let’s get you started with these features:
- Manage document types — Create custom document types for your governance artifacts
- Work with document versions — Save, compare, and lock document versions
