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 AI—it'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 (978) 692-9868 234 Littleton Road Westford, MA 01886, USA New York +1 (978) 496 7230 394 Broadway New York, NY 10013

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