Implementing Guardrails to Ensure the Responsible and Ethical Use of AI

Video

Jul 16, 2024

Chris Smigielski, Model Risk Director, Arvest Bank

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

It is crucial to implement rigorous frameworks that prioritize ethical considerations and ensure compliance with regulatory standards in AI applications.
Robust testing and validation processes are essential for detecting and mitigating biases in AI models, thereby ensuring fairness and reliability.
Incorporating continuous monitoring and annual reviews helps maintain the effectiveness and ethical integrity of AI models throughout their lifecycle.
Balancing the adoption of innovative AI technologies with strict adherence to ethical and regulatory requirements is key in the banking sector.

Chris Smigielski Bio

With over 30 years of financial services industry experience, Chris has an in-depth knowledge of model risk management, model governance, model validation, financial model development, Asset Liability Management, and team development. Chris is currently the Director of Model Risk Management at Arvest Bank and was previously Vice President, Director of Model Risk Management at TIAA Bank for five years. His experience includes leadership roles at Diebold and Fiserv, where he consulted with financial institutions nationally and internationally to design and implement financial strategies to maximize productivity and growth, as well as Asset/Liability Management and quantitative analysis at HSBC and First Niagara Banks.