Model Governance
What is Model Governance?
The framework for overseeing the development, validation, deployment, and ongoing monitoring of analytical and AI models used in decision-making.
Frameworks that govern model governance
What the standards actually require on model governance
Requirements naming model governance across 5 standards, quoted from the control text.
Where internal models are allowed, the insurer must have adequate governance and internal controls over the model, ensure the Board and Senior Management have overall control of and responsibility for its construction and use, understand its construction at ap...
iais-insurance-core-principles-icps::17.16 · 17.16 Model governance and the use test: Board and management control, understanding and embedding in risk strategy and operations →The model helps stakeholders understand the life cycle and its governance, the joint demand and supply processes client and provider should establish, and how to ensure flexibility, delivered value and collaboration.
iso-37500-2014::4.4 · Outsourcing life cycle model: governance at the centre of four phases →A data consumption purpose is provided for every data sharing agreement involving sensitive data, specifying the type of data needed and, for complex international organizations, the country or legal entity scope.
edm-council-cdmc-cloud-data-management-capability-framework::KC8 · Key Control 8: Data Consumption Purpose →The model is robustly governed and understood and challenged at senior level. Baseline: clear governance with defined roles and accountability; documented, reviewed governance process;
principles-for-doing-business-at-lloyd-s::P7.4 · 7.4 Robust governance and senior understanding and challenge of the model →Every regulated user-to-user service must carry out a suitable and sufficient illegal content risk assessment at the time set by Schedule 3, keep it current (including when Ofcom significantly changes its risk profiles) and repeat it before any significant des...
uk-online-safety-act-2023::s.9 · Illegal content risk assessment (user-to-user) →Questions people ask about model governance
What is Model Governance?
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