Model Risk Management

Governance

The system of policies, rules, and processes by which activities are directed, controlled, and managed.

Right to be Forgotten

A legal concept giving individuals the right to request deletion of their personal data from organisations' records.

Data Sovereignty

The concept that data is subject to the laws and governance structures of the country where it is collected or processed.

Internal Audit

An independent assurance function that evaluates the effectiveness of an organisation's internal controls and governance.

COBIT

Control Objectives for Information and Related Technologies — a framework for IT governance and management.

Business Ethics

The application of ethical principles and moral standards to business activities, decisions, and relationships.

Anti-Money Laundering

Laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

Whistleblower Protection

Legal provisions protecting individuals who report illegal or unethical practices within organisations.

Information Classification

The process of categorising data based on its sensitivity level and the impact of unauthorised disclosure.

Acceptable Use Policy

A document defining the permitted use of an organisation's IT resources and networks.

AI Regulation

The developing body of laws and policies governing the development, deployment, and use of artificial intelligence systems.

Algorithmic Accountability

The principle that organisations should be answerable for the outcomes and impacts of their algorithmic systems.

The systematic process of evaluating potential risks in an organisation's operations, projects, or investments.

California Consumer Privacy Act — a US state law enhancing privacy rights and consumer protection for California residents.

A security vulnerability reporting practice where researchers privately notify affected organisations and allow reasonable time for remediation before public disclosure of the vulnerability.

A systematic evaluation of the potential social, economic, and civil rights impacts of an automated decision-making system before and after deployment.

The overarching strategy for managing an organisation's information assets, balancing the need for data availability with security, privacy, compliance, and lifecycle management.

A systematic evaluation of the potential effects and risks of an AI system before and during its deployment.

The international standard for AI management systems that specifies requirements for establishing, implementing, maintaining, and improving AI governance within organisations.

The process of identifying, assessing, and controlling threats to an organisation's capital and operations.