The Auditor and Model Risk Management
Learn where internal audit adds value in model risk management, from defining models and scoping reviews to governance, black-box models and audit's limits.
Speaker
Daniel Clark
Risk management and audit consultant · BEXC Partners · CRCMP, CISRCP, QIAL
Overview
Model risk management involves many moving parts, and internal audit can easily spend effort where it adds little. This 60-minute webinar helps auditors find the right level of contribution.
You'll revisit how to define a model and model risk, why model risk occurs, and how governance affects different operational processes. The session covers the best audit scope for model risk reviews, aligning audit coverage with model risk, understanding black-box models, defining roles for integrated model risk management, and explaining the limits of what audit can assure.
Why attend: Assuring that model risks are known, understood and managed is hard, and the auditor's value proposition is different from what many expect. This session gives auditors guidelines on what matters most and a holistic approach to auditing model risk. It suits auditors and audit leaders, risk managers, model risk staff, compliance officers, executives, external auditors and consultants.
What’s covered
- How to define a model
- Why model risk occurs
- The best audit scope for model risk reviews
- Aligning audit coverage with model risk
- Understanding the black box
- Governance and why it matters
Who should attend
What you get
About the speaker
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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