AI Risk Manager

An AI Risk Manager is responsible for identifying, assessing, and mitigating the risks associated with implementing AI technologies in financial services. This includes ensuring that AI applications comply with regulatory standards, are ethically designed, and are secure against cybersecurity threats. They work closely with data scientists, legal teams, and compliance officers to develop strategies that minimize potential AI-related risks.

Key Responsibilities

• Evaluate and manage the risks associated with AI technologies, such as data privacy concerns, algorithmic bias, and security vulnerabilities.
• Ensure compliance with regulatory frameworks governing the use of AI in financial services.
• Educate internal stakeholders about AI risks and provide guidance on AI governance policies.

Important Skills and Competencies

• Regulatory insights: Strong knowledge of AI ethics and regulatory compliance in financial services. Familiarity with data privacy laws and cybersecurity standards.
• Risk management: Experience with risk management frameworks (e.g., ISO 31000).
• Technical expertise: Understanding of AI and machine learning technologies.
• Communication: Excellent communication and collaboration skills to work with cross-functional teams.

AI Risk Managers play a crucial role in protecting organisations from reputational damage, regulatory fines, and operational risks while helping the company innovate responsibly.