Meridian Financial Services Ltd

AI Governance Board Report

Reporting period April 2026 – June 2026 · Generated 30 Jun 2026 by Alice Okonjo, Chief Risk Officer

Overall governance score

71/100

Up 6 points since the previous report

Mature governance in operation

7

AI initiatives

1

High-risk initiatives

78%

Incident readiness

Section 1

Executive summary

1
Overall AI governance score is 71%. That is up 6 points against the previous quarter, driven by completed model documentation and the new supplier due-diligence pack.
2
7 AI initiatives are on the register: 3 approved, 1 approved with conditions, 2 in review, 1 draft. Two initiatives moved into production monitoring this quarter.
3
1 initiative is high risk — the credit decision support model. It is approved with conditions, has documented human oversight, and is reviewed monthly by the Model Risk Committee.
4
The top open priorities are: complete fair-lending disparate-impact testing on the credit model; finalise the EU AI Act technical documentation pack; close the vendor transparency gap on the CV screening tool.
5
Incident readiness stands at 78%. One corrective action was raised and closed this period, with no AI incidents affecting customers.

Section 2

AI initiative portfolio

Initiative	Owner	Risk tier	Status	Last review
Credit decision support model	Priya Raman	High	Approved with conditions	12 Jun 2026
Customer service chatbot	Daniel Whyte	Limited	Approved	28 May 2026
Document AI for claims intake	Sofia Marchetti	Limited	Approved	04 Jun 2026
CV screening assistant	Helen Brooks	Limited	In review	19 Jun 2026
Fraud anomaly detection	Priya Raman	Limited	Approved	21 Apr 2026
Marketing copy generation	Tom Reilly	Minimal	In review	09 Jun 2026
Internal knowledge assistant	Daniel Whyte	Minimal	Draft	24 Jun 2026

Risk distribution

High

1

initiative

Limited

4

initiatives

Minimal

2

initiatives

Section 3

Framework compliance (1 of 2)

EU AI Act

74%

37 of 50 items complete

EUAI-4.2 Complete the technical documentation pack for the credit model
EUAI-5.1 Register the high-risk system in the EU database

ISO/IEC 42001

68%

30 of 44 items complete

ISO-6.1 Finish the AI risk treatment plan sign-off
ISO-9.2 Schedule the first internal AIMS audit

NIST AI RMF

77%

27 of 35 items complete

NIST-MEASURE Establish ongoing performance drift metrics
NIST-MANAGE Document the model decommissioning procedure

Section 3

Framework compliance (2 of 2)

National & regional requirements

81%

13 of 16 items complete

UK-5 Complete the equality impact assessment for CV screening
UK-4 Confirm FCA expectations for AI in credit decisions

Industry-specific AI requirements

60%

6 of 10 items complete

FIN-2 Run fair-lending disparate-impact testing on the credit model
FIN-1 Bring the credit model under formal model risk management

Section 4

Decisions & approvals this period

Initiative	Decision	Decided by	Date	Conditions
Credit decision support model	Approved with conditions	Alice Okonjo	12 Jun 2026	Monthly disparate-impact testing, mandatory human review of all declines, and re-approval in six months.
Document AI for claims intake	Approved	James Fielding	04 Jun 2026	None recorded

Section 5

Incidents & corrective actions

Incident readiness

78%

Nonconformities & corrective actions

Action	Context	Owner	Due
CA-2026-03 Chatbot disclosed an outdated fee schedule to 14 customers	Customer service chatbot — closed 27 May 2026	Daniel Whyte	27 May 2026

Section 6

Priorities for next period

1
FIN-2 Run fair-lending disparate-impact testing on the credit model
Industry-specific AI requirements · Owner: Priya Raman · Due 31 Jul 2026
2
EUAI-4.2 Complete the EU AI Act technical documentation pack
EU AI Act · Owner: Sofia Marchetti · Due 15 Aug 2026
3
UK-5 Complete the equality impact assessment for CV screening
National & regional requirements · Owner: Helen Brooks · Due 22 Aug 2026
4
ISO-9.2 Schedule and run the first internal AIMS audit
ISO/IEC 42001 · Owner: James Fielding · Due 30 Sep 2026
5
NIST-MEASURE Establish ongoing performance drift monitoring
NIST AI RMF · Owner: Priya Raman · Due 30 Sep 2026

Appendix

Methodology

Each activated framework produces a checklist scoped to your organisation profile — jurisdictions, industry, company size, AI maturity — and to the risk tier of each registered AI initiative. Items that do not apply to your profile are never counted.

A framework's percentage is the share of its visible items marked Done or Not applicable. The overall governance score is the unweighted mean of the active framework percentages, so no single framework can dominate the headline number.

Crosswalk references mean one piece of evidence can satisfy several frameworks at once: completing an item ticks every framework item that shares a reference code, which is why percentages can move together.

Incident readiness is measured separately as completion of the post-market monitoring and continual improvement sections. Decisions and approvals are drawn from the immutable decision log, and every generation of this report is written to the audit log.

This report is generated from the organisation's own governance records and is guidance to organise compliance work, not legal advice. Verify obligations against the official framework texts.