Effective management of model risk is one key to a financial services organization’s success and is a focus of regulators across the globe. Are you familiar with model risk management components and concepts? What is internal audit's role in assessing model risk management activities? How can internal audit fulfill its role in a way that aligns with IIA standards and the size of their organization? Join Stacey Schabel, North American audit director for Jackson National Life Insurance Company, as she examines best practices related to managing model risk.
In this session, participants will be able to:
- Gain an understanding of the business significance and regulatory expectations related to model risk.
- Discover key model risk management concepts and components.
- Learn internal audit’s role in assessing an organization’s model risk management activities.
- Identify an approach, based on examples, for internal auditors to assess model risk management activities in their organization.
Stacey Schabel, CIA, CPASC
North American Audit Director, Jackson National Life Insurance Company
Stacey Schabel is responsible for the North American internal audit team, which examines and evaluates the key activities and processes supporting the North American operations of Prudential plc including Jackson National Life Insurance Company. She assists the board, audit and risk committee members, and executive management in protecting the assets, reputation, and sustainability of the organization through assessment and reporting of the overall effectiveness of risk management, control, and governance processes. Schabel is a member of The IIA’s Financial Services Guidance Committee.