AI Risk Management & Oversight Program

Defend. Enable. Govern.

 
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Artificial Intelligence presents both opportunity and risk for financial institutions. As AI adoption accelerates across business operations and third-party providers, institutions must balance innovation with appropriate oversight, cybersecurity, and risk management.

The AI Risk Management & Oversight program helps financial institutions establish and oversee an enterprise AI program through Bedel Security's® Defend. Enable. Govern. methodology. This ongoing advisory service provides the framework, governance, and operational management needed to confidently adopt AI while maintaining visibility into AI-related risks, supporting responsible innovation, and demonstrating effective governance to executive leadership, the Board of Directors, and regulators.

Our methodology is built upon three guiding principles:

  • Defend by identifying and managing risks introduced by AI, strengthening preparedness for AI-enhanced cyber threats, and integrating AI considerations into the institution's existing cybersecurity and risk management program.
  • Enable responsible AI adoption through structured processes that evaluate, approve, implement, and monitor AI use cases while encouraging innovation that aligns with the institution's strategic objectives.
  • Govern the institution's AI program through centralized oversight, inventory management, risk monitoring, executive reporting, and Board visibility to ensure AI activities remain aligned with organizational risk appetite and regulatory expectations.

A Closer Look:

  • Bedel Security® provides an ongoing AI management program that establishes the governance structure and operational processes needed to responsibly adopt, oversee, and manage Artificial Intelligence.
  • The program combines foundational governance with ongoing management through the CySPOT® AI Management Workspace, providing a centralized approach to evaluating AI initiatives, managing AI-related risks, overseeing third-party AI usage, maintaining executive and Board reporting, and measuring program maturity over time.
  • Together, these deliverables provide management, the AI Committee, executive leadership, and the Board of Directors with a centralized view of the institution's AI governance program.
Bankers looking closer at their AI Risk Management Board Report

Deliverables

AI Program Foundation

  • AI Committee: Establish a cross-functional AI Committee responsible for evaluating AI initiatives, guiding strategic direction, monitoring program maturity, and promoting accountability across the organization.
  • AI Committee Charter: Document a committee charter defining the committee's purpose, responsibilities, membership, meeting cadence, and reporting structure.
  • AI Governance Policy: Develop an AI Governance Policy that establishes expectations for the appropriate use of AI technologies, defines roles and responsibilities, and outlines the institution’s governance processes.
  • AI Risk Appetite Statement: Define AI-specific risk appetite statements that establish acceptable risk boundaries and support consistent decision-making related to AI adoption and oversight.


CySPOT® AI Management Workspace

  • AI Inventory: Maintain a comprehensive inventory of approved AI technologies, applications, and business use cases utilized across the institution.
  • AI Intake & Use Case Register: Establish a structured process for documenting, evaluating, and tracking proposed AI initiatives from initial request through implementation.
  • AI Decision Log: Document AI-related decisions, approvals, exceptions, and rationale to support accountability and regulatory readiness.
  • AI Risk Assessment: Identify, assess, prioritize, and monitor AI-related risks for relevant assets.
  • AI Third-Party Register: Track third-party vendors utilizing AI or providing AI-enabled services and document AI-specific due diligence activities.
  • AI Incident Response Readiness: Ensure the institution’s Incident Response Plan accounts for AI-enabled attacks and provides scenarios for tabletop testing.
  • Executive & Board Reporting: Deliver ongoing reporting that summarizes AI initiatives, risk trends, governance activities, program maturity, training, and recommendations for executive leadership and the Board of Directors.

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