Hello,Can someone tell me of a "best" or good book on model validation?Thank you

Which models? Pricing models, or risk models, or models in general?

Pricing models.Thanks!

Also for clarification, I have zero desire to work as a model validation quant. My interest is in learning about and understanding the systematic and data-driven ways that people use in that kind of work.

Not much has been written on this important subject IMHO. The OCC has written a few papers on this so you could start there.If you are talking about validating a FO pricing model, then I would expect Risk and Internal Audit functions to have clear policies on what is expected. In principle the key components would be: Theoretical Review, Independent Model Build, Model Comparison under various scenarios (Trade types and / or Market Data Scenarios) and finally defining a Model Reserve calculation. I am sure there are other ways to slice and dice this problem.....The key to a successful model validation exercise is openness and transparency.....QuoteOriginally posted by: OrbitAlso for clarification, I have zero desire to work as a model validation quant. My interest is in learning about and understanding the systematic and data-driven ways that people use in that kind of work.

Perhaps a book on "how to get out of model validation" would be a best seller ?

QuoteOriginally posted by: DominicConnorPerhaps a book on "how to get out of model validation" would be a best seller ?Indeed. Together with "How to get out of regulation". Validation should be reserved to the brightest minds, but usually isn't even well regarded. However this will be history, as Basel is looking towards punishing internal modeling and we'll mostly be busy playing busy.PS can someone explain how some SW is offering validation *functionality*? How exactly would that work?