Credit risk models, often referred to as scorecards and scores, are the linchpin of financial stability for both individuals and businesses. These models guide crucial decisions about lending, capital allocation, credit loss forecasting, and strategic planning for banks and lenders. Given their profound impact, credit risk models are under increasing scrutiny and regulation, with a growing emphasis on Model Risk Governance. This discipline ensures models are developed, utilized, and managed with a comprehensive understanding and without unintended consequences.