Auditing Credit Risk

Credit risk is a key risk for financial services organizations and, for a good number of organizations, maybe the most critical risk. Regulators and regulatory supervisors are focused on this risk, emphasizing the necessity of having accurate models that can measure the capital impact of credit activities, the risk of leveraged finance, and the great importance of counterparty risk. New requirements and supervisors’ expanded expectations are giving internal audit a more relevant and active role in the assessment of credit risk. In addition, the organization’s board of directors has responsibility for credit risk oversight and governance, and internal audit should provide the board with independent assurance regarding the organization’s credit risk management efforts.

This course provides internal auditors with a baseline skill set necessary to test and evaluate the effectiveness of the organization’s credit risk management framework and processes.

products.sku: 1010.LMS.LM01.0070.01.01
$109.00
products.price.withdiscount: $109.00
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products.tierprices.price$50.00

Who will benefit from this course?

This course is intended to provide participants with the essential knowledge and skill set to test and evaluate the effectiveness of the organization’s credit risk processes. This course will benefit internal auditors desiring an overview of the importance of credit risk, credit risk governance, and risk management processes surrounding credit risk.

Course Objectives

  • Express the importance of credit risk in the financial services industry.
  • Summarize the regulatory environment and requirements related to credit risk.
  • Identify critical thinking fallacies and biases.
  • Recognize the key elements of credit risk governance and risk management processes surrounding credit risk.
  • Describe the nature and basis of measurement of the default probability.
  • Evaluate the role of internal audit in credit risk business processes and operations.
  • Apply IIA Global Internal Audit Standards and risk-based internal audit techniques to assess and audit credit risk.
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Assessing Fraud Risk

This course equips internal auditors and fraud risk practitioners with a solid understanding of local and global effects of fraud in organizations. As fraud risks and fraudulent activities continue to play a role in an organization’s overall financial and reputational stability, the recognition of current trends in fraudulent acts will grant internal auditors the advantage of fostering detective and preventive measures to safeguard the integrity of a business, its shareholders, products, services, and workforce. 

In its 2020 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) calculated that businesses lost an estimated $3.6 billion in fraud cases globally, which stresses the necessity to modernize and standardize reporting pathways to thwart risks, and fraud intents. By incorporating The IIA Standards into risk and fraud assessments, the process of maintaining a cohesive and transparent risk management engagement is streamlined for the continuation of businesses and their operations.

$89.00

Auditing Model Risk Management

Organizations across various sectors of the economy recognize the benefit of utilizing mathematical models to validate decisions. With large amounts of data coming from a myriad of dynamic sources, organizations need to develop models to review, evaluate, validate, and transform data with the purpose of optimizing strategic forecasting and tactical actions.

This course provides an overview of model development, testing and validation, as well as practical applications of model risk management (MRM). It describes the important role of the three lines of defense in the MRM process and defines the internal audit function’s responsibilities related to MRM. Additionally, this course identifies methods and processes internal auditors can use to review the design, implementation, and operation of their organization’s MRM framework.

$59.00

Ethical Scenarios for Financial Services Auditors

Internal auditors are expected to follow the IIA’s Global Internal Audit Standards. Domain II: Ethics and Professionalism contains five principles covering the ethical requirements for the profession. Each principle contains standards, which internal auditors are expected to apply and uphold. The ethical requirements of each principle help internal auditors translate it into practical behavioral norms. Adherence to these behavioral norms is critically important for any industry, and for any organization.

This course is intended to demonstrate how to achieve conformance with Domain II and is geared toward helping internal auditors in a financial services environment successfully promote an ethical culture in the profession of internal auditing. The scenarios in the course demonstrate and provide real-life examples on how to deal with and resolve situations encountered by financial services internal auditors as they relate to making ethical decisions.

$59.00

Auditing Market Risk

Market risk is a key risk for financial services organizations. Regulators and their supervisors focus on this risk, emphasizing the necessity of having accurate models that can measure the capital impact of market activities on the financial viability of the institution. Regulatory requirements and supervisors’ expanded expectations are giving internal audit a more relevant and active role in the assessment of market risk. In addition, an organization’s board has direct responsibility of market risk oversight and governance, so internal audit should provide it with independent assurance in conformance with the Standards.

This course provides internal auditors with a baseline skill-set necessary to test and evaluate the effectiveness of the organization’s market risk management framework and processes.

$129.00