Financial Risk Management and Explainable, Trustworthy, Responsible AI.

This perspective paper is based on several sessions by the members of the Round Table AI at FIRM, with input from a number of external and international speakers. Its particular focus lies on the management of the model risk of productive models in banks and other financial institutions. The models in view range from simple rules-based approaches to Artificial Intelligence (AI) or Machine learning (ML) models with a high level of sophistication.