The Auditor and Model Risk Management
Instructor:
Daniel Clark
Product ID: 705551
Training Level: Intermediate
- Duration: 60 Min
Why Should You Attend:
Gaining a full understanding of model risk management practices and processes will help attendees provide valuable insight to their organizations. No longer is it acceptable to simply know that there are models being used throughout organizations. Instead, auditors and risk managers need to know how they are being used, how they are validated, whether the input and output are valid and how do they influence leadership decision making.
Learning Objectives:
- Identify and classify models
- In depth discussion on model risk management design and implementation
- Creation of monitoring tools to ensure quality performance
- Confirm control design and implementation of reporting
- Share best practices already in place
- Provide insight to regulatory concerns
Who Will Benefit:
- Risk Managers
- Auditors
- Directors of Internal Audit
- Enterprise Risk Managers and Staff
- Quality control staff
- Compliance Officers
- Operations Leaders
- Operational Risk Leaders
- Business Executives
Daniel Clark
SVP General Auditor, Washington Trust Bank
Dan Clark has over 30 years’ experience in the financial industry. 19 of that in Risk Management and Internal Audit where he established risk based internal audit processes. He is an active speaker and contributor to industry conferences, publications and think tanks. His book, Dare to Be Different, An Auditor’s Personal guide to Excellence has been well received in the industry. Dan has been a CAE for international banks, regional banks and was Director of Operations for Internal Audit at GE Capital. He now is provide Audit and Risk Advisory Services to various sectors of the market place.
Topic Background:
As organizations turn more and more to the use of models for stress testing, budgeting, projections and portfolio analysis it is important for auditors and risk managers to understand the uniqueness of models. More importantly, having an ability to determine the soundness of a model and how model risk management is implemented will provide confidence to leadership that reliance on models is appropriate.
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