Episode 4: AI Risk Management Framework (NIST AI RMF)

An AI risk management framework is a repeatable structure for governing AI risk — defining who's accountable, how risks are identified and classified, how they're measured, and how they're acted on. The most widely adopted one is the NIST AI Risk Management Framework, a voluntary framework from the US National Institute of Standards and Technology, built around four functions: Govern, Map, Measure and Manage. Most AI risk programs produce great documentation. They just don't change what happens in production. AI risk used to be something you could assess once and file — agents changed that. The risk now lives in what AI does continuously, in production, and a framework that treats risk as a one-time checkpoint is structurally blind to a system that acts every minute. Most teams improvise, handling risk differently across every model and agent with no common language and no consistent process. The result: governance that looks complete on paper and falls apart the moment an agent does something nobody reviewed. In this video, Michael Rahm, Director of Product Marketing at Collibra, breaks down how the four NIST AI RMF functions work together as a continuous loop: 1️⃣ Govern — sets accountability and policy: who owns each system, under what rules 2️⃣ Map — establishes context and classifies risk: what the AI does, what data it touches, who it affects 3️⃣ Measure — replaces opinion with evidence: tracking performance, drift, and for agents, behavior in production 4️⃣ Manage — closes the loop: enforcing controls, responding to incidents, and for agents, pausing them at runtime when risk crosses a threshold For agents specifically, every function has to reach into runtime — because an agent's first wrong action can scale before a quarterly review would ever catch it. The question isn't whether you have an AI risk framework. It's whether it's actually running — or just sitting in a document nobody enforces. 📖 Get the full breakdown, including implementation steps for each function, how the NIST AI RMF compares to the EU AI Act and ISO 42001, and how an AI Command Center operationalizes it: https://www.collibra.com/blog/the-ai-risk-management-framework-nist-ai-rmf-for-models-and-agents-with-implementation-steps #NISTAIRMF #AIRiskManagement #AIGovernance #Collibra #ResponsibleAI #AICommandCenter #EUAIAct #ISO42001