Role Description

About the Role

India's banking sector is undergoing rapid AI adoption — from credit scoring and fraud detection to customer service automation

and liquidity management. In August 2025, the Reserve Bank of India published the FREE-AI (Framework for Responsible and Ethical

Enablement of Artificial Intelligence) report, establishing seven guiding 'Sutras' and 26 recommendations across six strategic pillars

for all regulated entities. Simultaneously, the Ministry of Electronics and IT (MeitY) released national AI Governance Guidelines in

November 2025 under the IndiaAI Mission.

Large private sector banks — already at the frontier of AI deployment — now face a dual mandate: accelerating AI-driven innovation

while demonstrating board-level accountability for model risk, algorithmic fairness, explainability, and DPDP Act 2023 compliance.

The Head of Responsible AI will be the internal authority who translates regulatory expectation into operational governance, and

who builds trust with the RBI, customers, and the Board.

Key Responsibilities





 Can map all 26 FREE-AI recommendations to existing bank processes.

 Leads RBI inspection readiness for AI/ML models.

 Tracks SEBI, IRDAI, and CERT-In AI-related advisories proactively

 Engages with regulator-industry working groups (e.g., RBI Innovation Hub)

 Evaluates XAI outputs (SHAP, LIME) and can explain them to non-technical audiences.

 Identifies bias in training data (demographic, historical, proxy)

 Reviews model cards and datasheets for completeness

 Understands drift, hallucination risk, and uncertainty quantification

 Design or enforce a model inventory and tiering system.

 Conduct or oversee independent model validation

 Define escalation protocols for model incidents and breaches

 Familiar with SR 11-7 / SS1/23 (international MRM standards) and their adaptation to India

 Develop or implement an algorithmic fairness testing protocol.

 Define human-in-the-loop requirem

📌 EAIG:Head – Responsible AI (Mumbai)
🏢 Axis Bank
📍 Mumbai