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Article
AI governance challenge forces boards to reclaim accountability
As AI systems move into strategic decision making, banks face rising governance and accountability challenges. Gerry Kounadis of the National Bank of Greece explains why boards must retain control, strengthen oversight of vendors, and embed AI risks into enterprise frameworks to ensure resilience and regulatory compliance.
Mar 18, 2026
Gerry Kounadis, Head of Group Data Privacy, Technology & ESG Compliance Advisory, National Bank of Greece
Tags:
Vendor and Third Party Risk
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- Boards must retain ultimate accountability for AI driven decisions
- AI vendors may face liability but responsibility cannot be outsourced
- Reliance on single AI providers creates concentration and transparency risks
- Firms must ensure they can explain, challenge, and replace AI models
- Governance is shifting from periodic review to continuous oversight
- AI risks must be embedded into enterprise risk and resilience frameworks
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