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Internal Auditor Position

  • 1.  Internal Auditor Position

    Posted Feb 20, 2020 04:40 PM
    Does anyone have an Internal Audit Position?  If so, who do they report to?  Does anyone have an Internal Auditor who reports directly to the Supervisory Committee Chairman?


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    Regina Colbert
    CEO
    Otero FCU
    Alamogordo NM
    575.434.8500
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  • 2.  RE: Internal Auditor Position

    Posted Feb 21, 2020 05:46 AM

    Hi Regina, we do have an Internal Audit function that does report to the Supervisory Committee Chairman. Would be happy to speak to you about it and to share the experiences it brings.


    Regards,

     

    Glyne Harrison

    Group Chief Executive Officer

     
    (246) 622-8901 (246) 437-8745
     
     

    "Olive Trotman House", Keith Bourne Complex,
    Belmont Road, St. Michael, BB14000, Barbados.

    Toll-free 1-866-800-6146
    UK Freephone 0808-234-1327

     
     

     






  • 3.  RE: Internal Auditor Position

    Posted Feb 28, 2020 08:23 AM
    We are $550 in assets. We have an Internal Auditor. I review her audit schedules and plans along with the department heads for which she is conducting audits. However, she reports directly to the audit committee. This reporting structure is necessary otherwise it would compromise the integrity of "Internal Auditor".

    This is one of the greatest positions we have added over recent years. Done right, it is one of those positions that helps you sleep better at night.

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    Josh Cook CCE
    President/CEO
    Community Choice CU
    Johnston IA
    515.334.8141
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  • 4.  RE: Internal Auditor Position

    Posted Feb 21, 2020 05:48 AM
    Hi Regina, we do have an Internal Audit function that does report to the Supervisory Committee Chairman. Would be happy to speak to you about it and to share the experiences it brings.

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    Glyne Harrison
    Group CEO
    Barbados Public Workers' Co-operative CU Ltd
    St Michael
    246.430.5200
    ------------------------------



  • 5.  RE: Internal Auditor Position

    Posted Feb 21, 2020 06:44 AM

    Regina,

    We are a $480M credit union and we created a fulltime dedicated compliance/audit position in 2014 (we were $350M in assets). Prior to that duties scattered between a few individuals and we used a shared compliance resource from our Credit Union League in Ohio.  Starting a few years ago we have been receiving tremendous pressure from NCUA related to BSA and internal audit and currently have a Chief Risk officer (reports to supervisory committee) and 2 full time BSA specialists and have outsourced a significant portion of our internal audit.  We have a CPA firm that specializes in credit unions here once a quarter.  We are also in process of implementing Bam + (bankers toolbox) to strengthen our BSA analytics.   

     

    Jason

     

    Jason Garner

     






  • 6.  RE: Internal Auditor Position

    Posted Feb 21, 2020 07:19 AM

    Our Internal Auditor reports to our Assistant Vice President of Audit/Compliance.  Our AVP of Audit/Compliance reports to the Audit Committee.


    Mary Gould

    Executive Assistant
    Fox Communities Credit Union
    3401 E. Calumet Street Appleton, 54915
    P: 920-993-3768 | E: mgould@foxcu.org





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  • 7.  RE: Internal Auditor Position

    Posted Feb 21, 2020 08:34 AM
    Our Internal Audit & Compliance Officer reports to our Supervisory Committee but is "supervised" by our CFO.

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    Kris Pfister
    Executive Assistant
    Heartland Credit Union
    Hutchinson KS
    620.669.0177 x216
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  • 8.  RE: Internal Auditor Position

    Posted Feb 21, 2020 09:48 AM

    Thank you Kris for your response. 


    Regina Colbert
    President/CEO
    NMLS ID# 478493
    575-443-7010
    rcolbert@oterofcu.org




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  • 9.  RE: Internal Auditor Position

    Posted Feb 21, 2020 10:40 AM
    ​Hi Regina,

    We are nearing $400M in assets and have an Internal Audit Manager who reports to the Supervisory Committee. That's different from my prior Credit Union, a $1B+ organization where Internal Audit reported to the CEO but worked closely with the SC. I feel the current arrangement makes sense from a 'conflict of interest' standpoint, however it also creates some political stress when certain situations that should be mole hills become mountains.

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    Brett Noll CME
    Chief Executive Officer
    Securityplus FCU
    Baltimore MD
    410.750.2358
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  • 10.  RE: Internal Auditor Position

    Posted Feb 21, 2020 04:54 PM

    Definitely agree that molehill turning into mountains is one of the biggest issues that can be encountered in the "reporting to SC" scenario. The CEO has to be prepared to play mediator to help move situations along so negotiation and diplomatic skills are a must once you go this route.


    Regards,

     

    Glyne Harrison

    Group Chief Executive Officer

     
    (246) 622-8901 (246) 437-8745
     
     

    "Olive Trotman House", Keith Bourne Complex,
    Belmont Road, St. Michael, BB14000, Barbados.

    Toll-free 1-866-800-6146
    UK Freephone 0808-234-1327

     
     

     






  • 11.  RE: Internal Auditor Position

    Posted Feb 23, 2020 12:43 PM
    Our internal auditor reports to the CEO and supports the Supervisory Committee.

    Hugh

    "I am what I am, and that's all that I am." Popeye






  • 12.  RE: Internal Auditor Position

    Posted Feb 27, 2020 08:30 AM
    Hi Regina,

    We are a $480 million credit union and we utilize an independent third-party CPA firm(s), selected and engaged by the Supervisory Committee to conduct our internal audits.  The CFO is responsible for managing and coordinating the internal audits and works closely with the Supervisory Committee and external audit firms.

    Amanda

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    Amanda Johnson
    Chief Financial Officer
    APL FCU
    Laurel MD
    800.367.5796
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