02 · Define and map · Financial services

Define the control environment and objectives

Define which customers, products, channels and decisions are inside scope, including vulnerable customers and downstream manual decisions.

FINANCIAL SERVICES WORKING CONTEXT

Scope the regulated customer impact

A regulated firm is using AI in a process that can affect customer access, pricing or treatment. Consumer outcomes, model risk and explainability are board concerns.

Evidence bar

Product/customer journey map
Risk appetite and approval authority
Supplier change and validation terms

REVIEW CHECKPOINTS

COSO Context Map

Name the accountable business owner and second-line challengerMap supplier, model and data dependenciesState what the system must not be used to decideName process and control ownersConsider segregation of dutiesMap all five COSO components

INTERACTIVE REVIEW MEETING

Pressure-test your reasoning

CFOControl ownership

Everyone is responsible for AI quality. Is that adequate ownership?

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AuditorEvidence quality

A manager says the review happens weekly. What proves it?

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COSO Context Map

Complete the fields against the financial services operating context. Your work saves automatically in this browser.

Business and control objectives

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Control environment

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Ownership and segregation of duties

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Information and communication

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