RMA Internal Audit Series - Model Risk Management 2022 | Risk Management Association (RMA) | 16 August 2022 | Online

There are a number of model risk management issues facing financial institutions today, many exacerbated by the unique challenges of internal audit. This session will explore the current challenges confronting the internal audit of model risk management.

Learning objectives:
You will learn from this session the following key items:
• The growing use and challenges of managing artificial intelligence / machine learning.
• The growing sophistication and quantitative techniques deployed in managing information security and cyber security assessment.
• The impact of data management and ensuring the right framework is in place to understand what is flowing into models is appropriate.
• Discussing the challenges of managing these issues internally versus utilizing a third-party vendor. In particular, we look at what the trade-offs are and how they are best managed.