Responsible AI Governance and Risk Management Framework

This document is a guide that outlines the establishment of governance, policies, and risk management controls for the safe deployment of artificial intelligence (AI). It details how Schneider Downs collaborates with executive, risk, and technology leaders to create practical AI governance frameworks that are supported by clear policies and operational standards. The guide emphasizes the integration of Responsible AI principles into governance and enterprise risk programs, which enhances visibility into AI usage, decision-making processes, and risk management throughout the AI lifecycle. It presents various solutions, including an AI governance framework that defines accountability and oversight, a structured AI risk management framework for identifying and mitigating risks, and monitoring tools to ensure compliance with fairness and transparency standards. Additionally, it discusses AI audit services that provide independent assurance of governance and lifecycle controls, aligning with frameworks like the EU AI Act and NIST AI RMF.