The board itself, or a committee it delegates to (for a global group this may be a regional or global body that supervises the Singapore FI), carries five responsibilities: approving, and revisiting on a schedule, the overall governance approach to AI risk, covering the strategic direction for AI and the main frameworks, structures, policies and procedures for assessing and managing AI risk on a continuing basis; making sure the risk appetite framework speaks explicitly to AI risk, in qualitative terms and, where sensible, quantitative ones such as caps on the number or cost of AI incidents, on material use cases that depend on a single provider, or on material use cases breaching performance limits; fixing the respective roles of the board and senior management in AI risk oversight; keeping its own understanding of AI good enough to oversee and challenge effectively; and seeing that the approach, the appetite framework, the roles, the capabilities and the culture are reviewed regularly against new AI developments and shifts in the FI's risk profile and business strategy.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.