AI risk as an RIA is not just a compliance or technology question, it’s both. Most cybersecurity firms can speak to the second. Very few can speak to both from day one, in the same engagement. Fairview can offer both, with a hands-on, advisory approach, helping to build a thoughtful, compliant AI program that benefits your firm and mitigates risk.
Offering
Fairview’s AI Cyber and Compliance Support Offering helps CCOs and RIAs build and maintain a tailored framework for AI usage across their firm. Our approach is intended to give CCOs confidence in utilizing and deploying AI tools across their firm, and to put them on the path of utilizing AI, in a way that mitigates risk and meets industry expectations and best practices.
Fairview will conduct the following services:
Build, Launch and Maintain an AI Framework
AI Risk Assessment
- Conduct AI Risk Assessment, an independent review of where and how AI is actually being utilized across the firm, including both approved and unapproved usage, to identify vulnerabilities, gaps, and exposure.
- Develop and present in-depth report, including log of unapproved usage, current and potential vulnerabilities, and recommended remediation.
AI Benchmark
- Validate that outputs match intended results
Ongoing Monitoring, Maintenance, and Reporting
- Monitoring: Conduct regular monitoring of activity logs to ensure activity is in line with AI policies and procedures and usage policies. Conduct routine access reviews to ensure access rights remain current.
- Maintenance: Maintain AI policies and procedures and acceptable use policy, as needed.
- Monthly report: Compile and send monthly report, including overview of activity, any potential vulnerabilities.
