AI Risk Management Senior Associate

Fifth Third Bank • Cincinnati, OH

8d

About The Position

As a first line of defense, the AI Risk Management Senior Associate serves as a strategic partner in the responsible adoption and governance of AI across Fifth Third. The role identifies, assesses, mitigates, monitors, and manages risks associated with AI, Generative AI, Agentic AI, machine learning, intelligent automation, and other emerging technologies, while helping business teams innovate within established risk appetite and governance frameworks.

The role partners with business, technology, operations, data, Legal, Compliance, Model Risk Management, Information Security, Privacy, Enterprise Risk, and Audit stakeholders to support AI-enabled solutions throughout their lifecycle—from use-case ideation and proof of concept through deployment, ongoing monitoring, change management, and retirement. It helps identify use cases that can improve processes, productivity, efficiency, decision-making, customer experience, and control effectiveness, embedding appropriate governance and risk mitigation throughout.

The position 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 framework and responsible AI principles. It transforms data into actionable business intelligence, provides oversight and effective challenge, supports regulatory compliance, and promotes ethical, responsible, and scalable AI adoption. The role is accountable for identifying, assessing, managing, monitoring, and reporting risks, and for escalating concerns and following applicable policies and procedures.

The position is based in Cincinnati, Ohio. Compensation includes a base salary determined by factors such as skills, experience, education, and location, and eligibility to participate in an incentive compensation plan. Fifth Third describes its benefits programs as supporting employees’ physical, financial, emotional, and social well-being; specific benefits are not enumerated in the posting.

Requirements

• Bachelor’s degree or equivalent experience required.
• 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 is 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 ability to interpret and apply policies, standards, laws, regulations, and regulatory guidance in a complex business environment.
• Professional verbal and written communication skills, including ability to explain complex AI and risk concepts to technical and non-technical audiences with appropriate discretion and confidentiality.
• Ability to build trusting relationships, facilitate cross-functional discussions, influence without direct authority, and provide effective challenge.
• Collaborative and approachable working style, with ability to work in a fast-paced environment and adapt as technologies, business needs, and regulatory expectations evolve.
• Working knowledge of Microsoft Office products.
• Ability to work independently with minimal supervision and appropriately escalate material risks, decisions, and dependencies.

Nice To Haves

• Degree in Risk Management, Business, Information Systems, Computer Science, Data Science, Artificial Intelligence, Cybersecurity, or a related field.
• Master’s degree in a relevant field.
• Experience supporting AI, machine learning, Generative AI, intelligent automation, analytics, digital transformation, or emerging technology initiatives.
• Familiarity with enterprise AI platforms, collaboration tools, analytics tools, and GRC systems.
• 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.
• Experience supporting AI governance committees, model risk committees, technology risk committees, product governance forums, or similar cross-functional decision-making bodies.

Responsibilities

• Assist Business Controls leadership with developing and implementing AI governance strategies, controls, policies, standards, and procedures.
• Analyze and support the identification, assessment, control, monitoring, testing, and reporting of risks associated with AI and emerging technologies.
• Support AI use-case intake, classification, risk tiering, approval, inventory, and governance processes.
• Evaluate AI-enabled solutions for risks involving fairness, bias, explainability, transparency, privacy, security, data quality, intellectual property, resilience, human oversight, customer impact, and regulatory compliance.
• Conduct AI-focused RCSA facilitated sessions and document applicable processes, risks, controls, and residual risk ratings.
• Identify governance requirements and support the design, implementation, documentation, and ongoing effectiveness of AI-related controls.
• Maintain AI governance, risk, control, issue, indicator, and inventory records in designated systems, including GRC and portfolio management tools.
• Partner with business, technology, operations, and data teams to identify and prioritize AI use cases.
• Provide risk advisory support throughout the AI lifecycle, from ideation and proof of concept through development, testing, deployment, monitoring, change management, and retirement.
• Translate business needs into AI use-case requirements, success measures, control expectations, and governance deliverables.
• Support experimentation and proof-of-concept activities in approved environments and guardrails, evaluating feasibility, value, risk, and readiness.
• Collaborate on AI-assisted workflows, intelligent automation, and human-in-the-loop processes that balance innovation and risk requirements.
• Evaluate emerging AI capabilities, tools, and platforms, communicating potential applications, limitations, dependencies, and control considerations.
• Promote reusable patterns, standards, and governance approaches for responsible AI adoption at scale.
• Gather, integrate, and analyze information to identify issues, trends, concentrations, associations, and cause-and-effect relationships involving AI adoption and performance.
• Develop and maintain AI risk metrics, key risk indicators, key performance indicators, risk appetite measures, and management reporting.
• Work with Support Functions and Risk Experts to identify indicators, evaluate thresholds, and document approved changes in the GRC tool.
• Monitor AI use cases, controls, incidents, exceptions, performance measures, and risk indicators.
• Investigate actual or potential operational losses, AI incidents, model or system failures, control breakdowns, and unexpected events; support root-cause analysis and corrective actions.
• Execute applicable ERM scenario analysis and contribute AI-related scenarios, assumptions, impacts, and mitigation strategies.
• Support identification and linkage of loss events to applicable RCSA processes and risks where appropriate.
• Highlight control breakdowns, inadequate processes, emerging exposures, and unexpected events, and work with leaders and business owners on corrective actions.
• Support resolution of issues raised by Internal Audit, Compliance, Model Risk Management, Information Security, Privacy, Enterprise Risk, and other risk functions.
• Partner with business managers on remediation under the Bancorp’s issues management framework, coordinating ownership of processes, risks, controls, tests, and action plans.
• Assist with root-cause analysis, action-plan evaluation, milestone monitoring, evidence review, validation readiness, and closure activities.
• Participate in issue remediation and escalate delays, dependencies, risk acceptances, or ineffective corrective actions through appropriate governance channels.
• Monitor laws, regulations, guidance, supervisory expectations, and industry practices affecting AI and emerging technologies, including OCC Heightened Standards and relevant model, technology, data, privacy, consumer protection, and third-party risk expectations.
• Assist with regulatory change management to identify, assess, report, implement, and sustain AI-related changes affecting business processes and controls.
• Support regulatory examinations, internal audits, compliance reviews, risk assessments, and governance inquiries involving AI-enabled products, services, processes, or controls.
• Communicate emerging AI risks and regulatory developments and help translate expectations into practical business and control requirements.
• Provide oversight and effective challenge for AI supplier and outsourcing strategies, including business cases involving foundation models, cloud AI services, software providers, data providers, and other external AI capabilities.
• Participate in escalated issues involving AI suppliers or other third parties when applicable.
• Work with business and risk partners on inherent risks, controls, due diligence, contractual considerations, monitoring, and exit strategies for third-party AI solutions.
• Collaborate with information barriers, data governance, privacy, records management, cybersecurity, and access-control groups on controls for information used by or generated through AI.
• Build relationships with business leaders, product owners, technology and data teams, Business Controls, and second- and third-line risk functions.
• Advise peers and stakeholders on cross-functional AI governance processes, risk assessments, project deliverables, and control requirements.
• Support AI governance committees, working groups, and management forums by preparing risk analyses, decision materials, metrics, issue updates, and recommendations.
• Provide constructive challenge while helping stakeholders make informed, risk-based decisions.
• Develop or support training, guidance, communications, and awareness activities promoting responsible AI practices and consistent governance.
• Develop and manage applicable AI product and use-case inventories and execute the ERM product risk review program for AI-enabled capabilities.
• Support government programs, regulatory initiatives, special internal projects, and new risk programs involving AI or emerging technologies.
• Assist with due diligence, closing, integration, and other risk matters related to acquisitions, strategic investments, or partnerships involving AI capabilities.
• Perform additional responsibilities as assigned by line-of-business, functional, Business Controls, or Risk leadership.
• Exchange ideas and opinions openly, elevate concerns, follow policies and procedures, and act in support of positive customer and colleague experiences.

Benefits

• The posting describes comprehensive benefits programs supporting employees’ physical, financial, emotional, and social well-being; specific benefits are not listed.
• Eligible to participate in an incentive compensation plan, with payment based on company, line-of-business, and/or individual performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior