Biden’s Executive Order on AI Governance: How ValidMind Enables You to Comply Featured Image

Biden’s Executive Order on AI Governance: How ValidMind Enables You to Comply

Juan Martinez / Nov 9, 2023
President Biden’s Executive Order on artificial intelligence issued on October 30, mandates rigorous safety and security testing for high-risk AI systems. This includes requiring developers to report test results and undergo red-team exercises before deployment. The order also directs NIST to refine its AI Risk Management Framework (AI RMF), particularly...
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Quantification of Model Uncertainty (Part 2) Featured Image

Quantification of Model Uncertainty (Part 2)

Juan Martinez / May 31, 2023
Introduction While Model Risk Management (MRM) principles are important, meeting the expectations set by regulators (FED 2011, PRA 2023) and fostering a robust risk management framework can be challenging or even confusing at times. We believe all MRM practitioners must develop a good understanding of these principles and actively implement...
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SS1/23 Model Risk Management Principles for All Banks Featured Image

SS1/23 Model Risk Management Principles for All Banks

Juan Martinez / May 17, 2023
The Prudential Regulation Authority’s (PRA) supervisory statement SS1/23 Model Risk Principles for All Banks, signifies a major shift in model risk management (MRM) for banks, and emphasizes the need for clear accountability, rigorous governance, and continuous monitoring and validation of models. The role of technological solutions in this transformation cannot...
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Understanding Uncertainty for Model Risk Management (Part 1) Featured Image

Understanding Uncertainty for Model Risk Management (Part 1)

Juan Martinez / Apr 18, 2023
Uncertainty plays a critical role in AI model risk management since it can affect their performance, reliability, and ability to make accurate predictions. Practitioners involved with these models, depending on their role within organizations, may not have a complete understanding of the concepts behind model uncertainty which in turn can...
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Interview with Juan Martinez from ValidMind Featured Image

Interview with Juan Martinez from ValidMind

Juan Martinez, Nik Richers / Apr 6, 2023
For an international Spanish-speaking audience, our very own Juan Martinez recently had a chance to talk to Plácido Doménech Espí about AI and model risk management (MRM). In this interview, Juan brings the audience into the world of model risk, uncovering the impact of the rapid AI evolution in banking and...
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