I agree with puneet as that there aren’t many risks involved in performing v&v testing. The risks come into play if the requirements/specifications cannot be verified or need to be changed. If so, a design change review meeting may need to be held to assess the risk. I currently conduct validation work for a few of our products and I do not run into either process or design risk. Once again, the risk comes into play when the design or process of a product cannot be validated and would then have to be changed. The change(s) imposed will then have to be checked against hazard analysis or some FMEA to determine any effects.