Is internal audit top of mind in your institution? A well established audit function should provide management and key stakeholders with ongoing assurance of the effectiveness of the company’s control environment and risk management processes. Learn how to establish an independent, effective internal audit function that promotes good corporate governance in Heidi Wier and Sara […]
Tracey Levandoski is the author of this new white paper, Building Your Defenses: Compliance Management for First-Line Operations. Many banks have moved to three lines of defense (3LOD) governance model, even if they are not yet required to because of their asset size ($50 billion or more). In the 3LOD model, the business lines (1LOD), which comprise the frontline and back-office operational groups that sell and service the bank’s products, are responsible for developing and maintaining an effective compliance management system (CMS) for the respective business line. This allows the Compliance Department to serve a true second line of defense (2LOD). Whether your bank is in the process of building out a compliance function in the business lines or just starting to make a case for one to management, this white paper will provide the information you need.
The heightened regulatory focus on the mortgage industry is driving public and non-public mortgage companies to enhance their corporate governance structures by implementing effective internal audit functions.
