AI Model Inventory And Risk Assessment

1
About Us
CIMCON Software, LLC, founded in 1988, is a
global leader in end-user computing (EUC) risk
management, serving 500 companies across various
industries. Our feature-rich, extensively tested
software ensures reliable success. Headquartered
in Boston, with offices in Europe and Asia, we
provide robust global support for EUC system
implementation.
2
The Imperative for Risk Management in AI Models
In an era where 77 of global bankers believe
that AI is the key differentiator between winners
and losers, the rapid adoption of AI in financial
institutions has brought about new challenges and
risks.
Whether you're a risk manager, internal auditor,
or C-suite executive, the question isn't whether
to adopt AIit's how to manage the unprecedented
levels of business, regulatory, and reputational
risks that come with it through a robust model
inventory.
Just like the infamous Knight Capital incident,
where a glitch in a trading algorithm led to a
440 million loss, or the collapse of Silicon
Valley Bank due to unidentified errors in risk
models, the stakes are high. Without effective AI
Model Risk Management, you're navigating
uncharted territory with a blindfold on.
3
How CIMCON Helps You Safeguard Your AI Investments
CIMCON brings over 25 years of experience in
Model/EUC Risk Management to the table, offering
you a complete, holistic approach to mitigate AI
Model risks. Our purpose-built solutions are
designed to help you seamlessly integrate risk
management into your AI strategy, letting you
focus on leveraging AI's capabilities rather than
fearing its pitfalls.
4
CIMCON's Toolkit for AI Model Risk Management
1. Identify Your AI Landscape Know where and how
AI models are deployed across your organization.
2. Automate Risk Assessment Utilize our
proprietary algorithms to perform nuanced,
automated risk assessments on your AI models.
3. Understand Model Inter-dependency Customize
your risk criteria to get a full picture of how
one model's output affects another, staying in
line with regulatory requirements like SS 1/23.
4. Maintain a Robust Inventory Keep tabs on all
your AI models, setting up workflows and alerts
for periodic checks.
5. Real-Time Monitoring Track who accesses and
modifies your models, maintaining a complete
audit trail for compliance and review.
5
Tackle End User Challenges Head-On
When you're in the driver's seat of AI
implementation, governance can feel like a speed
bump. But just as spreadsheet governance became
essential in finance, AI model governance is a
critical part of modern business strategy. CIMCON
provides you with user-friendly tools to detect
and correct errors in your AI models, ensuring
you're not just fast, but also safe.
Enforce Policies and Maintain Compliance
A stitch in time saves nine. Proactive, automated
policy enforcement saves you from future audit
failures and costly setbacks. CIMCON's software
helps you systematically and consistently enforce
your risk management policies, providing evidence
of control effectiveness.
6
Contact Us
Boston (Corporate Office)
1 [phone]
234 Littleton Road Westford, MA 01886, USA
New York
1 [phone]
394 Broadway New York, NY 10013
7
THANK You