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 really 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. This webinar helps the auditor navigate the field and arrive at the right contribution level. (see
full course description)
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Training Course
Syllabus:
Objectives of the Presentation
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 providing assurance that model risk is mitigated
Gain a better approach to integrated model risk management through role definitions
Discuss expectation, real or perceived, that impact auditors abilities to add value
Design a holistic approach to auditing model risks
Why Should you Attend
By attending this training auditors gain a new perspective on how to add value to their organizations management of model risk. Rather than sit on the outside or outsource the auditing of risk processes, this webinar will provide the auditor a detailed program of contribution and value addition to any organization that utilizes models in their day to day business.
Areas 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
Seminar Summary:
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 really 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. This webinar helps the auditor navigate the field and arrive at the right contribution level. (see
full course description)