The former Gunners centre-back left his post as youth team coach to replace the long-serving Pat Rice as Wenger's right hand man in the summer, and has widely been credited with helping the north London side keep three consecutive clean sheets at the start of the new season.
Arsenal conceded a club record 49 Premier League goals last season, but have kept out Sunderland, Stoke and Liverpool already this campaign.
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Speaking at the Uefa elite club coaches forum in Nyon, Switzerland, the Arsenal manager said: "We have played two teams who didn't really attack, but he [Bould] is doing a good job.
"We continue our training regime. He has taken over from Pat Rice for the defensive job where he is doing very well.
"Will we finish with the best defence in the league? I hope so."
However, Wenger was quick to assuage fears that the appointment of Bould might see a return to the George Graham days of racking up 1-0 victories.
"No, no, we want to score goals, but Steve Bould is doing very well and I am confident we will have a good defensive record at the end of the season," he concluded.