The painting, known by the 17th century as 'La Schiavona' (the Dalmatian woman), must date from 1510-12. The initials T.V. on the parapet probably stand for Tiziano Vecellio.
The raised portion of the parapet is a revision, and drapery originally painted there now shows through it. The profile relief, inspired by those on antique cameos, seems to be of the same sitter.