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The Auditor and Model Risk Management

  • By: Daniel Clark
  • Recorded Session
  • Duration: 60 Minutes
  • Training Level: Intermediate to Advanced
  • Email Reminder

Transcript

Recorded Session

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Training CD

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Webinar Details

OVERVIEW

This webinar helps the auditor navigate the field and arrive at the right contribution level.

WHY SHOULD YOU ATTEND?

Of the many dynamics involved in model risk, internal audit should not get caught up in areas where they can add little value. This webinar provides auditor’s guidelines on what is important for them in this area. The value proposition for auditors is very different than what many may think as being able to assure model risks are known, understood, and managed is not an easy task.

AREA COVERED

  • How to define a model?
  • Reasons that model risk occurs
  • The best audit scope for model risk reviews
  • Aligning audit coverage to model risk
  • Understanding the “Black Box”
  • Governance and why it is important

LEARNING OBJECTIVES

  • Update and rationalize the definition of model risk
  • Better understand model risk governance impact on diverse operational processes
  • Learn how to explain audit’s limitations in assuring that model risk is mitigated
  • Gain a better approach to integrated model risk management through role definitions
  • Discuss expectation, real or perceived, that impacts auditors abilities to add value
  • Design a holistic approach to auditing model risks

WHO WILL BENEFIT?

  • Auditors
  • Audit managers
  • Audit leaders
  • Risk managers
  • Model risk staff
  • Compliance officers
  • Business executives
  • External auditors
  • Consultants

SPEAKER PROFILE

Daniel Clark

Daniel Clark. CRCMP, CISRCP, QIAL 
Independent Consultant BEXCPartners.com

Dan has over 25 years of experience in Financial Services from regional banks to global giants like Citigroup and GE Capital. His early career roles included: sales, credit risk management and operations. For the last 18 years he has been fully focused on Risk Management and Internal Audit. His experience as Chief Auditor in two regional banks and as a senior officer in Audit and Risk Review for Latin America provides unique insight into management practices in and outside of the United States. He is also a recognized expert on GRC, a Public Speaker and Blogger and has written a book; Dare to Be Different: An Auditors Personal Guide to Excellence: that has been well received by the audit community. 

WHY SHOULD YOU ATTEND?

Of the many dynamics involved in model risk, internal audit should not get caught up in areas where they can add little value. This webinar provides auditor’s guidelines on what is important for them in this area. The value proposition for auditors is very different than what many may think as being able to assure model risks are known, understood, and managed is not an easy task.

AREA COVERED

  • How to define a model?
  • Reasons that model risk occurs
  • The best audit scope for model risk reviews
  • Aligning audit coverage to model risk
  • Understanding the “Black Box”
  • Governance and why it is important

LEARNING OBJECTIVES

  • Update and rationalize the definition of model risk
  • Better understand model risk governance impact on diverse operational processes
  • Learn how to explain audit’s limitations in assuring that model risk is mitigated
  • Gain a better approach to integrated model risk management through role definitions
  • Discuss expectation, real or perceived, that impacts auditors abilities to add value
  • Design a holistic approach to auditing model risks

WHO WILL BENEFIT?

  • Auditors
  • Audit managers
  • Audit leaders
  • Risk managers
  • Model risk staff
  • Compliance officers
  • Business executives
  • External auditors
  • Consultants

SPEAKER PROFILE

Daniel Clark

Daniel Clark. CRCMP, CISRCP, QIAL 
Independent Consultant BEXCPartners.com

Dan has over 25 years of experience in Financial Services from regional banks to global giants like Citigroup and GE Capital. His early career roles included: sales, credit risk management and operations. For the last 18 years he has been fully focused on Risk Management and Internal Audit. His experience as Chief Auditor in two regional banks and as a senior officer in Audit and Risk Review for Latin America provides unique insight into management practices in and outside of the United States. He is also a recognized expert on GRC, a Public Speaker and Blogger and has written a book; Dare to Be Different: An Auditors Personal Guide to Excellence: that has been well received by the audit community. 

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