Definition
A simulation record is the durable account of a decision: the options considered, the consequences of each, the assumptions relied on and the reasoning for the choice made.
In short
A simulation record is the durable account of a decision: the options considered, the consequences of each, the assumptions relied on and the reasoning for the choice made.
Decisions get re-examined by investors in diligence, by partner banks in onboarding and review, and by supervisors after the fact. What holds up is evidence of what was tested and why one option was chosen over another.
The record is a by-product of simulating properly rather than a separate documentation exercise.
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