This session explores the evolving landscape of model risk management and internal audit oversight in light of the newly released IIA Global Internal Audit Standards. Participants will gain insights into regulatory expectations, model validation best practices, and the critical role of governance in mitigating model risk. The session also highlights significant updates to the IIA Standards effective January 2025, emphasizing enhanced board involvement, performance measurement, and strategic alignment. Together, these frameworks provide a comprehensive approach to strengthening oversight and ensuring organizational resilience.

Learning Outcomes: 

• Understand the Core Components of Model Risk Management
• Apply the New IIA Global Internal Audit Standards
• Enhance Oversight and Governance Practices