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City BankInternal Audit of Controls, Processes, and Security Identifies Risk, Recommends and Implements Control System Improvements

Chances are that risk management ranks high on your list of concerns. Whether you are a de novo or a multi-billion dollar institution, managing your risk through proper policies, procedures, training, and monitoring is front and center as you explore new avenues to enhance your institution’s value.

Risk is a part of every business decision and cannot be avoided. Our consultants understand that risk…good calculated risk…is integral to creating value. Allow us to assist you in the following ways.

  • Perform a financial institution-wide risk assessment to ensure all relevant risks have been identified, risk-rated, and properly addressed
  • Develop a risk-based multi-year audit plan to determine whether controls are in place and operating as intended
  • Evaluate processes and controls to identify required improvements in the internal control system
  • Track and follow-up on previously identified control issues to ensure their timely and adequate resolution
  • Deliver formal reporting of findings to Senior Management, the Audit Committee and/or Board of Directors to ensure they are informed and involved, as necessary, with issue resolution

Our internal audit services can take the form of full outsourcing of the function or a more targeted co-sourcing arrangement to focus on specific areas of risk. In a full outsourcing engagement, we work with you to implement and carry out an annual internal audit plan. We handle risk assessment, plan development, plan execution and board reporting. In a co-sourcing engagement, our experts work with your existing internal audit function to execute operational audits as needed.