Background information
In the whitepaper “Managing AI risks”, Jos Gheerardyn discusses how Model risk management (MRM) provides a proven framework to manage the risks of AI. After highlighting the main components of a sound MRM framework, he discusses which aspects need to be fine-tuned to address the specificities of AI models.
These include a.o. stakeholder management, dealing with technological complexity and managing third-party risk. He concludes by giving an overview of the main regulatory initiatives and gives advice on how to navigate their complexity.
Author
Jos Gheerardyn has built the first FinTech platform that uses AI for real-time model testing and validation on an enterprise-wide scale. A zealous proponent of model risk governance & strategy, Jos is on a mission to empower quants, risk managers and model validators with smarter tools to turn model risk into a business driver. Prior to his current role, he has been active in quantitative finance both as a manager and as an analyst.
