Artificial Intelligence Risk Manager

2 weeks ago


Johannesburg, Gauteng, South Africa FirstRand Full time
Job Description


To 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 realtime, ensuring the safety and soundness of AIdriven 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 decisionmaking processes adhere to ethical guidelines and industry best practices.
  • Collaborate with stakeholders to address ethical considerations in AIdriven financial products and services, fostering trust and confidence among customers and regulators.
  • Implement governance mechanisms to ensure the proper documentation, validation, and monitoring of AI models throughout their lifecycle, including model selection, training, testing, and deployment
  • Serve as a key liaison between the CDAO's, AI teams, risk management, compliance, legal, and business units, facilitating communication and collaboration on AI riskrelated 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 decisionmaking 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

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