AI Governance Management
Managing AI and ML governance with models that empower your organization's success.
Introducing the latest advancement in governance leveraging model risk management: Artificial Intelligence and Machine Learning. As the industry’s leading MRM solution, Connected Risk® now offers robust support for artificial intelligence and machine learning models. With our cutting-edge solution, your model risk team gains the power to efficiently create and maintain your model inventory through effective workflow management.
In today’s dynamic landscape of emerging technologies and rapidly evolving AI models, it is vital to navigate the associated risks with utmost diligence. To safeguard your organization from reputational damage and potential fines, it becomes imperative to make informed decisions regarding model selection and implement a comprehensive remediation strategy. With Connected Risk®, you gain the insights and tools necessary to tackle these challenges head-on, ensuring you remain at the forefront of model risk management in the era of AI and emerging technologies.
Artificial intelligence and machine learning poses complex and widespread issues that organizations must model to understand their governance.
In response to the increasing pressure to embrace artificial intelligence and machine learning, organizations require a robust solution that assists senior managers in understanding and effectively communicating the utilized models to regulators, internal stakeholders, and the board. Enter Connected Risk®’s AI Governance Solution built off of Model Risk Management, which plays a pivotal role in this regard by equipping organizations with the necessary tools and insights to manage AI and ML governance effectively.
Connected Risk®’s solution offers seamless data capture, documentation, and issue management capabilities on-the-go. This means that organizations can easily capture and store critical information about their models, ensuring nothing is overlooked or missed. Additionally, the solution facilitates enterprise-wide reporting, enabling organizations to maintain a comprehensive inventory of their model data.
By leveraging the AI Governance Management Solution provided by Connected Risk®, senior managers gain the confidence to navigate the complexities of modeling and establish effective communication channels with regulatory bodies and the board. The solution’s real-time data capture, documentation, and issue management features provide a holistic overview of the organization’s model data, empowering senior managers to make informed decisions.
Moreover, the solution’s enterprise-wide reporting capabilities allow organizations to maintain a comprehensive and up-to-date view of their entire inventory of model data. This comprehensive approach aids in efficient risk management and ensures compliance with emerging regulatory models for artificial intelligence.
Connected Risk®’s Model Risk Management Solution is designed to alleviate the challenges associated with AI and ML governance, providing organizations with the necessary tools and insights to effectively manage and communicate their model data to various stakeholders.
Artificial Intelligence Governance Management on Connected Risk® provides you with a comprehensive approach to model inventory management, enabling your teams to:
Track all AI/ML models
Effortlessly monitor and manage all models, spanning across various risk themes, through a unified inventory store. This powerful capability allows for the identification of potential redundancies and duplications within the model inventory, providing valuable insights.
Identify model issues
Efficiently pinpoint model issues and seamlessly track them until resolution is achieved.
Add documentation
Enhance your model management by incorporating supporting documentation that showcases the methodology employed and the corresponding results achieved.
Evidence AI/ML governance
Ensure the essential governance required for both independent and regulatory review by providing solid evidence and documentation.
Faster responses
Accelerate your ability to respond to regulatory changes that have an impact on your models, enabling timely compliance and proactive risk management.
Reduce AI/ML risk
Mitigate the risk of noncompliance and proactively identify potential opportunities, minimizing regulatory challenges and maximizing organizational growth.
Empower your AI/ML governance management practices with features designed to enhance your Connected Risk™ solution
Model Inventory
An inventory single source of truth for all models including: versions, materiality, relationships, dependencies, with full lifecycle management. This also includes structural taxonomy tags, links to inputs, outputs, and documentation.
Establish Ownership & Accountability
A user’s access and security rights are defined by their roles & responsibilities within your model risk management framework. Dashboards, email notifications and collaborative tools engage users and maintain the system.
Manage Documentation
Model Risk Management provides one-click access to model documentation. This includes document dependencies, version history, review cycles and security access control. Integration with the Committees provides evidence of review and sign off.
Workflow Enabled Lifecycle Management
Lifecycle management is established throughout 1st and 2nd line with clear responsibility throughout the model development, validation, review, and production phases demonstrated though links to the models, processes, and policies.
Issue Log
Model issue and weaknesses management are captured as part of the model validation and review lifecycle so that you can manage ownership, track status, and document resolution.
Connected Risk™ provides you with a single source of truth that provides infinite linkage capabilities, and in turn, increases data quality and knowledge sharing.
Connected Risk® utilizes enhanced drag-and-drop and powerful data mapping capabilities for creating additional taxonomies and linkages into neighboring risk areas.
Our AI/ML Governance Management solution is highly configurable and can help your teams:
Tailor-made, just for your organization
Tailor the solution to meet your organization’s growing regulatory needs
Evolve with regulatory change
Ensure evolving regulatory needs and internal policy updates are incorporated into the organization’s model inventory management.
Provide evidence with integrated reporting
Provide evidence of the latest taxonomies and relationships with our integrated reporting capabilities.
Expand with our RESTful API
Connected Risk® leverages RESTful web service endpoints that allow bidirectional integration of your data.
AI governance is simple and actionable with us.
Talk to one of our experts.
Fill out the form to the right to be connected to one of our Solutions Experts that can assist you with standing up a proof of concept or even working within your parameters to get a demo started for your group today.
Learn more about our Connected Risk® AI Governance Management solution and how it can manage the entire GRC lifecycle within your organization.
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"Powerful Platform For Compliance With Dynamic Regulatory Environment"
“The product is a powerful platform for regulated firms in the financial industry to comply with the ever-changing regulatory environment. The software helps my organization navigate rules and regulations, internal processes, and regulatory reporting requirements.”
Senior Associate, Finance Organization with an annual return of $1-3BN
