Artificial Intelligence Risk Manager page is loaded Artificial Intelligence Risk Manager Apply locations Johannesburg time type Full time posted on Posted 5 Days Ago job requisition id R14354 Job DescriptionTo drive the safe and responsible adoption of AI technologies in the organisation, safeguarding against potential risks and promoting trust and confidence in AI-driven financial services.
To develop and implement risk management strategies and protocols to mitigate identified risks throughout the AI development lifecycle.Identify and evaluate potential risks associated with AI technologies used in core operations, including algorithmic bias, data privacy concerns, security vulnerabilities, and systemic risks.Develop and implement risk management strategies and protocols to mitigate identified risks throughout the AI development lifecycle.Implement risk monitoring systems to detect and address emerging risks in real-time, ensuring the safety and soundness of AI-driven financial services.Stay abreast of relevant regulatory requirements, guidelines, and standards governing AI and machine learning in the financial sector, such as Basel III, GDPR, PSD2, and AML/CFT regulations.Ensure compliance with regulatory requirements related to AI usage, data protection, consumer protection, and financial stability.Work closely with legal and compliance teams to assess regulatory risks, interpret regulations, and implement necessary measures to ensure compliance with applicable laws and industry standards.Ensure that an ethical AI framework is developed and monitored, through integrating principles of fairness, transparency, accountability, and explainability into AI systems.Ensure that AI algorithms and models used in financial decision-making processes adhere to ethical guidelines and industry best practices.Collaborate with stakeholders to address ethical considerations in AI-driven financial products and services, fostering trust and confidence among customers and regulators.Establish robust model validation processes to assess the accuracy, reliability, and fairness of AI models used in financial applications, such as credit scoring, fraud detection, and risk management.Implement governance mechanisms to ensure the proper documentation, validation, and monitoring of AI models throughout their lifecycle, including model selection, training, testing, and deploymentServe as a key liaison between the CDAO's, AI teams, risk management, compliance, legal, and business units, facilitating communication and collaboration on AI risk-related issues.Engage with regulators, industry associations, and external stakeholders to share insights, best practices, and lessons learned in AI risk management in the financial sector.Provide regular updates and reports to senior management and board of directors on AI risk exposure through appropriate governance structures, compliance status, and mitigation efforts, enabling informed decision-making and oversight.Develop training programs and educational resources to increase awareness of AI risks, ethical considerations, and regulatory requirements among employees involved in AI development, deployment, and oversight.Drive a culture of responsible AI risk management within the organization by promoting awareness, accountability, and continuous improvement in AI risk management practices.Develop an AI orientated risk programme and provide guidance and mentorship to AI practitioners, data scientists, and risk professionals on best practices for identifying, assessing, and mitigating AI risks in the financial context.Stay abreast of emerging trends, technologies, and industry developments in AI risk management, contributing to thought leadership initiatives and industry forums.Drive innovation in AI risk assessment methodologies, tools, and techniques, leveraging advanced analytics, machine learning, and AI technologies to enhance risk detection and mitigation capabilities.Collaborate with internal and external partners to explore new opportunities for leveraging AI technologies while managing associated risks effectively, balancing innovation with risk management imperatives. Job Details Application Closing Date
14/06/24 All appointments will be made in line with FirstRand Group's Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.
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About UsThe FirstRand Corporate Centre (FCC) houses many of the critical functions required by a large and complex financial services group. FCC's stakeholders are both external, such as regulators, shareholders, global developmental institutions and government; and internal, mainly the businesses that service the group's customers. These critical functions cover risk, compliance, governance, internal audit, treasury, finance and tax amongst many others. They require deep specialist and technical skills and ultimately represent the custodianship of the FirstRand group's licence to operate.
FCC employees develop a unique perspective of the group because nowhere else can you own or be part of a mandate that operates across the portfolio. This allows for both big picture thinking and operational learning. It is also a great place to drive collaboration and a place to have a significant impact.
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