Name an executive risk owner with acceptance authority: Which approach satisfies both constraints?
An executive risk owner accepts residual risk while operational staff retain day-to-day monitoring and remediation responsibilities.
The question
A bank is considering AI extraction of financial documents. The tool has passed accuracy testing, but the chief risk officer cannot show who may accept residual errors or fund remediation. The board wants a decision that preserves executive accountability without taking over daily operations. Which approach satisfies both constraints?
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- Create a board committee that performs every exception review.Board involvement may support oversight, but handling every exception undermines operational ownership and is disproportionate to the stated constraint.
- Name an executive risk owner with acceptance authority. ✓This preserves executive accountability for residual risk while leaving routine monitoring and remediation to designated operational owners.
- Assign all approval decisions to the document-processing supervisor.A supervisor may manage operations, but this approach fails to establish executive accountability for material residual risk.
- Require the vendor to approve residual-risk acceptance.The vendor can support performance, but cannot replace the bank’s executive responsibility for accepting organizational risk.
The trap
Assign acceptance authority to accountable leadership, while preserving operational ownership of controls. How to remember it
An executive risk owner accepts residual risk while operational staff retain day-to-day monitoring and remediation responsibilities.
How many of these would you get right?
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