AI Risk Management Senior Associate
Cincinnati, OH, United States14h ago
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As first line of defense, serves as a strategic partner in the responsible adoption and governance of Artificial Intelligence (AI) across the organization. Identifies, assesses, mitigates, monitors, and manages risks associated with AI, Generative AI, Agentic AI, machine learning, intelligent automation, and other emerging technologies, while enabling business teams to innovate within established risk appetite and governance frameworks.
Partners closely with business, technology, operations, data, Legal, Compliance, Model Risk Management, Information Security, Privacy, Enterprise Risk, and Audit stakeholders to support the design, implementation, and scaling of AI-enabled solutions. Helps identify and develop AI use cases that improve internal processes, employee productivity, operational efficiency, decision-making, customer experience, and control effectiveness, while embedding appropriate governance and risk mitigation throughout the AI lifecycle.
Supports Business Controls in advancing AI governance structures, policies, processes, controls, risk assessments, monitoring capabilities, and tools aligned with the Bancorp's Enterprise Risk Management (ERM) framework and responsible AI principles. Serves as a trusted advisor to stakeholders from use case ideation and proof of concept through deployment, ongoing monitoring, change management, and retirement.
Transforms data into actionable business intelligence through analysis, risk insights, metrics, and reporting for stakeholders and governance forums. Provides oversight and effective challenge to validate program effectiveness, support regulatory compliance, promote ethical and responsible use, and enable scalable AI adoption across assigned lines of business, functional areas, and enterprise initiatives.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and for ensuring that actions and behaviors support a positive customer experience. While operating within the Bank's and line of business risk appetites, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types, including risks introduced or amplified by AI-enabled capabilities.
ESSENTIAL DUTIES AND RESPONSIBILITIES
AI Governance and Risk Management
· Assists Business Controls leadership with the development and implementation of complex AI governance strategies, controls, policies, standards, and procedures that improve effectiveness and efficiency across the respective business or functional area.
· Provides expertise and analysis related to the identification, assessment, control, monitoring, testing, and reporting of risks associated with AI, Generative AI, Agentic AI, machine learning, intelligent automation, and emerging technologies.
· Supports AI use case intake, classification, risk tiering, approval, inventory, and governance processes in accordance with enterprise requirements.
· Evaluates AI-enabled solutions for risks involving fairness, bias, explainability, transparency, privacy, security, data quality, intellectual property, resilience, human oversight, customer impact, and regulatory compliance.
· Conducts AI-focused RCSA facilitated sessions in which applicable processes, risks, controls, and residual risk ratings are evaluated and documented.
· Identifies applicable governance requirements and supports the design, implementation, documentation, and ongoing effectiveness of AI-related controls.
· Coordinates updates to AI governance, risk, control, issue, indicator, and inventory records in designated systems of record, including applicable GRC and portfolio management tools.
AI Enablement and Use Case Development
· Partners with business, technology, operations, and data teams to identify and prioritize AI use cases that improve internal processes, employee productivity, operational efficiency, decision-making, customer experience, and control effectiveness.
· Provides practical risk advisory support throughout the AI lifecycle, from ideation and proof of concept through development, testing, deployment, ongoing monitoring, change management, and retirement.
· Helps translate business needs into well-defined AI use case requirements, success measures, control expectations, and governance deliverables.
· Supports experimentation and proof-of-concept activities within approved environments and guardrails, helping teams evaluate feasibility, value, risk, and readiness for broader implementation.
· Collaborates with business and technology stakeholders to design AI-assisted workflows, intelligent automation, and human-in-the-loop processes that balance innovation, operational effectiveness, and risk management requirements.
· Evaluates emerging AI capabilities, tools, and platforms and communicates potential business applications, limitations, dependencies, and control considerations.
· Promotes reusable patterns, standards, and governance approaches that allow responsible AI use cases to scale across the organization.
Risk Assessment, Monitoring, and Reporting
· Gathers, integrates, and analyzes information from multiple sources to identify issues, trends, concentrations, associations, and cause-and-effect relationships involving AI adoption and performance.
· Develops and maintains AI risk metrics, key risk indicators, key performance indicators, risk appetite measures, and management reporting for stakeholders and governance forums.
· Partners with Support Functions and Risk Experts to identify applicable enterprise and risk appetite indicators, determine which indicators should be designated as key, evaluate thresholds, and document approved changes in the GRC tool.
· Monitors AI use cases, controls, incidents, exceptions, performance measures, and risk indicators to validate compliance and program effectiveness.
· Investigates actual or potential operational losses, AI incidents, model or system failures, control breakdowns, and unexpected events; supports root cause analysis and identification of corrective actions.
· Executes applicable ERM scenario analysis activities and contributes AI-related scenarios, assumptions, impacts, and mitigation strategies.
· Supports identification and linkage of loss events to applicable RCSA processes and risks, where appropriate.
Issues Management and Control Effectiveness
· Highlights control breakdowns, inadequate processes, emerging exposures, and unexpected events and works with Business Controls leadership and business owners to implement corrective actions.
· Supports resolution of Internal Audit, Compliance, Model Risk Management, Information Security, Privacy, Enterprise Risk, or other risk management issues that could affect the confidentiality, integrity, availability, performance, explainability, or lawful use of data, models, systems, and business processes.
· Partners with business managers to implement remediation actions in accordance with the Bancorp's issues management framework and coordinates business ownership of processes, risks, controls, tests, and action plans.
· Assists with root cause analysis, action plan evaluation, milestone monitoring, evidence review, validation readiness, and closure activities.
· Actively participates in issue remediation and escalates delays, dependencies, risk acceptances, or ineffective corrective actions through appropriate governance channels.
Regulatory Change and Industry Practices
· Stays informed of applicable laws, regulations, regulatory guidance, supervisory expectations, and industry practices affecting AI and emerging technologies, including OCC Heightened Standards and applicable model, technology, data, privacy, consumer protection, and third-party risk expectations.
· Assists with execution of the regulatory change management program to ensure AI-related changes are identified, assessed against business processes and controls, reported, implemented, and sustained.
· Supports responses to regulatory examinations, internal audits, compliance reviews, risk assessments, and governance inquiries involving AI-enabled products, services, processes, or controls.
· Communicates emerging AI risks and regulatory developments to stakeholders and helps translate expectations into practical business and control requirements.
Third-Party, Supplier, and Information Risk
· Provides oversight and effective challenge for the line of business AI supplier and outsourcing strategy, including review of business cases involving foundation models, cloud AI services, software providers, data providers, and other external AI capabilities.
· Participates in escalated issues that affect line of business processes and involve AI suppliers or other third parties, where applicable.
· Works with business and risk partners to identify inherent risks, required controls, due diligence expectations, contractual considerations, monitoring requirements, and exit strategies for third-party AI solutions.
· Collaborates with groups responsible for information barriers, data governance, privacy, records management, cybersecurity, and access controls to ensure appropriate controls over information used by or generated through AI solutions.
Business Partnership and Governance
· Builds effective relationships with business leaders, product owners, technology teams, data teams, Business Controls groups, and the second and third lines of defense, including Legal, Compliance, Enterprise Risk, Model Risk Management, Information Security, Privacy, and Audit.
· Serves as an analytical and procedural expert to peers and stakeholders on cross-functional AI governance processes, risk assessments, project deliverables, and control requirements.
· Supports AI governance committees, working groups, and management forums by preparing clear risk analyses, decision materials, metrics, issue updates, and recommendations.
· Provides constructive challenge while maintaining an enablement-oriented approach that helps stakeholders make informed, risk-based decisions.
· Develops or supports training, guidance, communications, and awareness activities that promote responsible AI practices and consistent execution of governance requirements.
Product, Program, and Special Initiative Support
· Develops and manages applicable AI product and use case inventories and executes the ERM product risk review program for AI-enabled capabilities.
· Supports new government programs, regulatory initiatives, or special internal projects involving AI or emerging technologies.
· Supports new risk programs required by regulatory authorities or Enterprise Risk Management.
· Assists with due diligence, closing, integration, and other risk matters related to acquisitions, strategic investments, or partnerships involving AI capabilities.
· Performs additional responsibilities as assigned by line of business, functional, Business Controls, or Risk leadership.
MINIMUM KNOWLEDGE AND SKILLS REQUIRED
· Bachelor's degree or equivalent experience required; degree in Risk Management, Business, Information Systems, Computer Science, Data Science, Artificial Intelligence, Cybersecurity, or a related field preferred. Master's degree in a relevant field preferred.
· Five or more years of experience in financial services, risk management, business controls, compliance, technology risk, model risk management, information security, data governance, analytics, product management, or a related discipline preferred.
· Experience supporting AI, machine learning, Generative AI, intelligent automation, analytics, digital transformation, or emerging technology initiatives preferred.
· Working understanding of AI concepts, including large language models, Generative AI, Agentic AI, machine learning, automated decision-making, intelligent automation, and the AI lifecycle.
· Knowledge of AI governance, responsible AI principles, model risk management practices, data governance, privacy, information security, third-party risk, and enterprise risk management.
· Ability to identify and assess AI risks involving fairness, bias, explainability, transparency, data quality, privacy, security, intellectual property, performance, resilience, human oversight, customer impact, and regulatory compliance.
· Strong analytical skills and the ability to interpret and apply policies, standards, laws, regulations, and regulatory guidance across a complex business environment.
· Professional verbal and written communication skills, including the ability to explain complex AI and risk concepts to technical and non-technical audiences with appropriate discretion and confidentiality.
· Demonstrated ability to build trusting relationships, facilitate cross-functional discussions, influence without direct authority, and provide effective challenge.
· Approachable and collaborative working style, with the ability to thrive in a fast-paced environment and shift priorities as technologies, business needs, and regulatory expectations evolve.
· Working knowledge of Microsoft Office products required; familiarity with enterprise AI platforms, collaboration tools, analytics tools, and GRC systems preferred.
· Ability to work independently with minimal supervision while escalating material risks, decisions, and dependencies appropriately.
PREFERRED QUALIFICATIONS
· Experience helping business and technology teams move AI use cases from concept or proof of concept into controlled production use.
· Experience with AI governance programs, AI or model inventories, AI risk assessments, responsible AI controls, technology governance, or emerging technology oversight.
· Familiarity with the NIST AI Risk Management Framework, ISO/IEC 42001, model risk management guidance, OCC supervisory expectations, and other relevant banking or technology risk frameworks.
· Experience with enterprise AI technologies or platforms such as Microsoft Copilot, Azure AI services, AWS AI services, large language models, intelligent automation platforms, or comparable capabilities.
· Professional certifications such as CRISC, CISA, CISSP, CRCM, FRM, PMP, or relevant cloud or AI certifications preferred.
· Experience supporting AI governance committees, model risk committees, technology risk committees, product governance forums, or similar cross-functional decision-making bodies.
KEY SUCCESS ATTRIBUTES
· Balances innovation and effective challenge, helping teams find a responsible path forward rather than treating governance as a barrier.
· Connects business objectives, technical capabilities, regulatory expectations, and risk appetite to produce practical, scalable solutions.
· Demonstrates curiosity about emerging AI capabilities and applies disciplined judgment to distinguish experimentation from production readiness.
· Takes ownership, communicates clearly, elevates concerns early, and follows through on decisions, dependencies, and remediation commitments.
AI Risk Management Senior AssociateAt Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Cincinnati, Ohio 45202Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.