Model risk management (SR 11-7)
A long-standing United States banking supervisory practice for validating and governing models, set out in Federal Reserve and Office of the Comptroller of the Currency guidance SR 11-7 (2011). Cited here as the pre-existing machinery that several banks extended to absorb the AI RMF, showing that many organizations already perform the four functions under other names.
Defined in 3 GAGE programs, which carry 3 distinct definitions of it. The wording above is taught in Certified AI Governance Professional (CAIGP).
How each discipline defines it
The same term does different work depending on who is using it. These are the definitions as each program teaches them, unedited.
US banking regulatory guidance (Federal Reserve and Office of the Comptroller of the Currency, 2011) requiring regulated banks to maintain documented, auditable records of how automated statistical and algorithmic models reach their outputs. Predates generative AI but establishes the same governance pattern this topic's trail extends to AI agents: documented, auditable automated decision-making as a supervisory expectation, not an optional best practice.
A long-standing United States banking supervisory practice for validating and governing models, set out in Federal Reserve and Office of the Comptroller of the Currency guidance SR 11-7 (2011). Cited here as the pre-existing machinery that several banks extended to absorb the AI RMF, showing that many organizations already perform the four functions under other names.
The Federal Reserve's supervisory guidance requiring banks to document, validate, and govern the models (including AI-driven models) they use for decisions, a real, sector-specific example of an existing legal framework already covering some AI-driven workforce and decision questions before any new AI-specific law is written.
Where it is taught
The exact lessons this term appears in. The first module of every program is free with a free account.
- The agent's trail: who acted, on whose authority, using what, and why, recorded for every autonomous touch of your estate · Access and the Keys, Certified AI Data Governance Professional (CADGP)
- NIST AI RMF as an operating system: mapping your organization onto govern, map, measure, manage · The World's Rulebooks, Certified AI Governance Professional (CAIGP)
- Labor Market and Innovation Economics: Displacement, Creation, Productivity · AI Economics and Impact Modeling, The AI Lobbyist: Certified AI Policy Strategist
Where it shows up at work
A definition is where Model risk management (SR 11-7) starts. The lessons above teach it inside the competencies below, which are what job descriptions ask for and what the GAGE credential records. Every link here is drawn from the same careers map that builds a role's readiness check.
Runs GOVERN, MAP, MEASURE and MANAGE as a cycle with evidence, builds current and target profiles, and applies the generative AI profile.
One lesson on this page teach it as a primary outcome.
Compares the EU AI Act, NIST AI RMF, ISO/IEC 42001 and sector rules by intent and control objective, and says where they do not overlap.
One lesson on this page teach it as a primary outcome.
Builds and audits an AI management system: context, leadership, planning, support, operation, performance evaluation, improvement and the Annex A controls.
One lesson on this page teach it as a primary outcome.
Roles that hire for it
Each role page shows the full competency set, what the seat decides, and a readiness check against your own evidence.
- Senior AI Compliance Analystneeds it at depth
- AI Compliance Specialistneeds working knowledge · 1 open posting this week
- AI Auditorneeds working knowledge · 9 open postings this week
- AI Governance Managerneeds working knowledge
- Security Compliance Managerneeds it at depth · 4 open postings this week
- GRC Associate (AI)needs working knowledge
How job descriptions say it
Postings rarely use the textbook word. These are the phrases the careers map reads as asking for the competencies above.
Where the frameworks place it: NIST AI RMF 1.0; NIST AI 600-1; EU AI Act; NIST AI RMF.
One interview question about it
Show me how you would apply the NIST AI RMF to one real system, function by function, without turning it into a checklist.
Asked of candidates for nist ai rmf in practice. Answering it in your own words is exactly how a GAGE topic is passed, and the credential records the pass where an employer can check it.
Terms it appears with
Not an alphabetical neighbourhood: these are the terms taught in the same lessons, ranked by how often they appear together.