AI compliance checklist for banks, insurers and fintechs

Use this as a quarterly self-check. Each item should point to evidence, not intent.

The eight checks

1. Policy

   An approved AI policy maps AI risks to existing model, operational, cyber, third-party and conduct frameworks.

2. Inventory

   Every AI use, including vendor-embedded AI, has an owner and materiality rating.

3. Data

   Data used by AI has a lawful basis, owner, lineage and quality checks.

4. Fairness and explainability

   Customer-impacting uses are tested for fairness and can explain decisions.

5. Disclosure

   Customers know when they deal with AI and can reach a person.

6. Vendors

   Contracts cover data use, change notice, audit and exit.

7. Evidence

   Approvals, tests, monitoring and incidents are recorded in one place.

8. Training

   Board, risk, compliance and audit receive role-based AI training.