FINMA Guidance 08/2024 Governance and Risk Management When Using Artificial Intelligence (Switzerland)
Section 2: Findings from supervision and FINMA's expectations – FINMA Guidance 08/2024 Governance and Risk Management When Using Artificial Intelligence (Switzerland)

FINMA Guidance 08/2024 Governance and Risk Management When Using Artificial Intelligence (Switzerland) 2.5: Document material applications centrally, in detail and for the recipient

What does 2.5 require?

For material applications the institution's documentation, held to centralised standards and detailed and oriented to its readers, covers what the application is for, how data was selected and prepared with its sources and the checks made on the data's integrity and correctness, its appropriateness and relevance, and its bias and stability, which model was chosen and why, the performance measures, the assumptions and limitations, the tests and controls, and the fallback solutions; it shows how robustness, reliability and traceability are ensured and records the risk categorisation with its justification and review.

Maintained by Gerard Blokdyk

Other controls in Section 2: Findings from supervision and FINMA's expectations – FINMA Guidance 08/2024 Governance and Risk Management When Using Artificial Intelligence (Switzerland)

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