Financial Risk Management and Explainable, Trustworthy, Responsible AI

After completing this reading, you should be able to: Describe the challenge posed by potential model bias and the ethical and responsible considerations surrounding the implementation of AI-driven solutions in financial risk management. Analyze the potential benefits and challenges of…

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Artificial Intelligence and Bank Supervision

After completing this reading, you should be able to: Describe historical evolution and common types of AI-based applications used in the financial sector. Explain the advantages of implementing AI-based applications to the banking services companies and their customers. Discuss the…

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Review of the Federal Reserve’s Supervision and Regulation of Silicon Valley Bank

After completing this reading, you should be able to: Describe the events leading up to the failure of Silicon Valley Bank. Describe shortfalls and deficiencies in the Federal Reserve’s supervisory oversight of Silicon Valley Bank during the period that the…

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Guidance on Managing Outsourcing Risk

 After completing this reading, you should be able to: Explain how risks can arise through outsourcing activities to third-party service providers and describe elements of an effective program to manage outsourcing risk. Explain how financial institutions should perform due…

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Risk Mitigation

After completing this reading, you should be able to: Explain different ways firms address their operational risk exposures. Compare different types of internal controls and provide examples of each type of internal control. Describe control automation, internal control design, and…

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Risk Measurement and Assessment

After completing this reading, you should be able to: Explain best practices for the collection of operational loss data and reporting of operational loss incidents, including regulatory expectations. Explain operational risk-assessment processes and tools, including risk control self-assessments (RCSAs), likelihood…

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Supervisory Guidance on Model Risk Management

After completing this reading, you should be able to: Describe model risk and explain how model risk can arise in the implementation of a model. Describe elements of an effective process to manage model risk. Explain the best practices for…

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Cyber-resilience: Range of Practices

After completing this reading, you should be able to: Define cyber-resilience and compare recent regulatory initiatives in the area of cyber-resilience. Describe current practices by banks and supervisors in the governance of a cyber risk management framework, including roles and…

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Risk Identification

 After completing this reading, you should be able to: Compare different top-down and bottom-up approaches and tools for identifying operational risks. Describe best practices in the process of scenario analysis for operational risk. Describe and apply an operational risk…

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Risk Reporting

After completing this reading, you should be able to: Identify roles and responsibilities of different organizational committees and explain how risk reports should be developed for each committee or business function. Describe components of operational risk reports and explain best…

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