Areas of Focus

Deploying AI Responsibly

The promise of AI is undeniable. However the dangers and concerns are not trivial.

We help you develop a robust AI risk management framework to set the right tone and structure in the journey of unlocking maximum value from this once in a lifetime transformative technology.

  • AI Risk Management Framework, including governance, policies, procedures, and controls design

  • AI deployment risk assessment, including effectiveness and maturity

  • Incorporation of AI risks into risk assessments, including RCSA, Compliance Risk Assessment and other risk domain assessments

Enhancing Risk Management with AI

Achieving optimal risk management efficiency and effectiveness has been an elusive holy grail. AI can deliver with astonishing results.

We can share with you successful use cases to turbocharge your efforts.

  • AI-enhanced governance, policies, procedures and control design

  • AI-enhanced RCSA & controls monitoring and testing

  • AI-enhanced issue and event management, risk data, key risk indicators design and monitoring

  • AI-enabled regulatory change management

  • AI-enhanced risk culture awareness and training

  • Conduct and Compliance Risk Management

Sharing Industry Practices

Most institutions feel they are woefully behind. Even those with great confidence are tinkering on the edges.

We bring our vast network of industry players to the table to share lessons learned and spur industry innovation.

  • Industry round tables/expert panels

  • Benchmarking studies

  • Newsletters

Raising AI and Risk Acumen

Boards and executives set the tone and direction of the organization. Staying current with the fast evolving pace of AI and the complex regulatory landscape is paramount for the leadership.

We provide trainings/seminars and newsletters to help you keep abreast.

  • Executive and board training on Managing AI Risks and Implementing AI-Enabled Risk Solutions

    [Note: per WSJ McKinsey study, most companies now use AI in at least one function, yet only 39% of Fortune 100 boards report any form of AI oversight. Two-thirds of directors say they have limited to no experience with AI.]

  • Masterclasses on AI and non-financial risk for risk teams across three lines of defense

Driving Successful AI Implementation

Implementing AI systems involves not only cross-functional teams but also external vendors. The challenge goes beyond technological.

We provide implementation advisory support to help you develop a repeatable roadmap and prevent mishaps along the way and down the road.

  • Vendor AI risk assessments

  • Data governance controls

  • Support for testing of AI controls

Facilitating Regulatory Engagements

Regulators have shown great interest and concerns in AI deployment even though there is no coherent global and national legislation or regulations.

We believe the regulatory environment will change quickly as AI usage becomes more ubiquitous and more issues surface impacting customers and the safety and soundness of institutions.

  • Regulatory exam and interaction support

  • Remediation advisory

  • Interpretation and implementation of new/changed regulations

  • Advocacy with regulators in policy development