Risk Management

Risk Assessment

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

Operational Risk

The risk of loss resulting from inadequate or failed internal processes, people, systems, or external events.

Third-Party Risk Management

The process of identifying and mitigating risks associated with outsourcing to third-party vendors.

Vendor Risk Assessment

Evaluating the potential risks of engaging with a vendor including security, financial, and operational concerns.

Know Your Customer

The process of verifying the identity, suitability, and risks of customers in financial transactions.

AI Impact Assessment

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

The European Union's comprehensive legislation establishing rules for the development and use of AI systems based on risk levels.

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

A structured approach to identifying, assessing, and mitigating risks associated with AI systems, as defined by standards such as NIST AI RMF and ISO/IEC 42001.

A set of principles, guidelines, and processes that an organisation adopts to ensure its AI systems are developed and deployed in a manner that is fair, transparent, and accountable.

An automated approach to maintaining regulatory compliance through real-time monitoring, policy enforcement, and evidence collection integrated into development and operations pipelines.

A process required under GDPR for assessing the risks of personal data processing activities and identifying measures to mitigate those risks before implementation.

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

An independent assessment of an AI system's compliance with regulatory requirements, ethical standards, and organisational policies, examining data, models, outputs, and governance.