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 2 GAGE programs, which carry 2 distinct definitions of it. The wording above is taught in AI Governance: Applied Mastery.
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.
Where it is taught
The exact lessons this term appears in. The first 7 topics of every program are 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, AI Data Governance: The Data Chair
- NIST AI RMF as an operating system: mapping your organization onto govern, map, measure, manage · The World's Rulebooks, AI Governance: Applied Mastery
Terms it appears with
Not an alphabetical neighbourhood: these are the terms taught in the same lessons, ranked by how often they appear together.