Topics
- Auditing the Lending Function
- Overview of the Lending Function
- Analysis of Lending Sub-Processes
- Internal Audit Objectives and Procedures:
- Commercial, Consumer, Real Estate, Credit Card
- Loan Loss Reserve
- Letters of Credit
- Default Management
-
Auditing Mortgage Banking Functions
- Overview of the Mortgage Lending, Secondary Marketing, and Servicing Functions
- Analysis of Mortgage Lending, Secondary Marketing, and Servicing Sub-Processes
- Mortgage Lending, Secondary Marketing, and Servicing Internal Audit Objectives
- Mortgage Lending, Secondary Marketing, and Servicing Internal Audit Procedures
- Mortgage Fraud
- Fraud Statistics
- Fraud Schemes
- Fraud Prevention
-
Auditing Current Expected Credit Loss (CECL)
- Governance and Oversight
- Project Management / Gap Assessment
- Technology and Third-Party Risk
- Model and Methodology
- Risk Identification and Segmentation
- Current Conditions
- Reasonable and Supportable Forecasts
- Reversion
- Acquired Loans
- Debt Securities
- Data (Inventory, Governance)
- Validation
- Reconciliation
- Policy
- Segregation of Duties
- Reporting and Disclosures
-
Ethics per the IIA Global Internal Audit Standards
- Overview
- Principle 1 Demonstrate Integrity
- Standard 1.1 Honesty and Professional Courage
- Standard 1.2 Organization’s Ethical Expectations
- Standard 1.3 Legal and Ethical Behavior
- Principle 2 Maintain Objectivity
- Standard 2.1 Individual Objectivity
- Standard 2.2 Safeguarding Objectivity
- Standard 2.3 Disclosing Impairments to Objectivity
- Principle 3 Demonstrate Competency
- Standard 3.1 Competency
- Standard 3.2 Continuing Professional Development
- Principle 4 Exercise Due Professional Care
- Standard 4.1 Conformance with the Global Internal Audit Standards
- Standard 4.2 Due Professional Care
- Standard 4.3 Professional Skepticism
- Principle 5 Maintain Confidentiality
- Standard 5.1 Use of Information
- Standard 5.2 Protection of Information
-
Auditing Asset/Liability Management
- Interest Rate Risk (IRR) Management Administration
- IRR Management Operations
- Liquidity
-
Recent Trends in Financial Institution Fraud
- Fraud Statistics
- Suspicious Activity Report (SAR) Filings
- ACFE’s 2024 Report to the Nations
- Pandemic-Related Fraud Schemes
- Fraud Characteristics and Conditions
- Weakness in the system of internal control
- Lack of effective internal audit
- Limited or no review of employee accounts
- Lack of Board involvement or weak Audit Committee
- Poor staff morale or high turnover
- Incomplete or missing documentation
- Inadequate monitoring systems
- Internal Fraud Red Flags
- Fraud Schemes
- Loan Fraud
- Fraudulent Electronic Funds Transfers
- Teller Cash
- Certificates of Deposit
- Identity Theft
- Fictitious General Ledger Entry
- Phishing Scams
- Cyber Threats
About the Instructors
Joe Garcia, CPA
Joe is a partner in the Crowe LLP’s Financial Institutions Consulting practice and is part of the Chicago office. Joe has more than14 years of experience working with Crowe LLP, specifically serving financial services companies. He also leads the Internal Audit Transformation Offering and Specialty Finance Market Segment for the firm’s Financial Services Internal Audit practice.
Joe focuses on financial institution clients and is responsible for managing internal audit engagements, including performing risk assessments and overseeing the scoping, planning and execution of fieldwork, and reporting of internal audit results. Joe has helped his clients implement FDICIA/SOx control frameworks and assist in performing related activities such as key control identification and evaluation of control design and operating effectiveness. He also performs technical reviews over asset liability management, enterprise risk management, model risk management, electronic banking and allowance for credit losses functions within financial institutions. Joe is responsible for overseeing the auditing of internal controls, providing value-added recommendations for identified deficiencies and identifying potential “best practice” business improvement opportunities. Joe holds a bachelor's of science degree in accounting from DePaul University.
E. Michael Thomas, CPA, CIA, CBA, CFE, CRP, CFF, CRMA
Mike is an internal audit/fraud prevention consultant specializing in the banking industry. Mike is a retired partner in Crowe LLP’s financial institution risk consulting practice in the southeastern U.S. He has more than 40 years of broad-based experience specializing in the banking industry. At Crowe LLP, Mike’s responsibilities included advising clients in areas such as risk management, fraud prevention and quality assurance assessments. In addition, he coordinated contract services for internal audit, information technology audit, loan review and compliance outsourcing at financial institutions, as well as working with clients to reengineer their internal audit, risk management and fraud prevention functions. Before joining Crowe LLP, Mike was an internal audit services director for PricewaterhouseCoopers LLP and served as vice president and audit group manager for SunTrust Banks (now Truist).
Mike is a frequent lecturer on internal audit, risk management, fraud prevention and banking related topics. He is a distinguished faculty member of the Institute of Internal Auditors, an adjunct faculty member of the Association of Certified Fraud Examiners and has been an instructor for the Bank Administration Institute, the Financial Manager’s Society, the American Bankers Association and the Georgia, Alabama, Louisiana, Tennessee, Missouri and Florida bankers associations. Mike is a member of the Institute of Internal Auditors, the Association of Certified Fraud Examiners and the Bank Administration Institute.
Mike holds a bachelor's degree in accounting from Columbus State University and is a graduate of the Bank Administration Institute’s School for Bank Administration (Internal Audit Management). He is a certified public accountant, internal auditor, bank auditor, fraud examiner and risk professional. He also is certified in financial forensics and has a certification in risk management assurance.
Julie Kunde
Julie is a manager in the financial services internal audit practice within Crowe LLP. She primarily focuses on compliance audits with regulatory requirements for financial institutions. Julie’s experience involves managing the planning and executing risk-based engagements, performing process walkthroughs, documenting control design, performing operating effectiveness testing, presenting observations and the reporting of fieldwork.
Julie is certified public accountant with five years of experience in internal audit and consulting, with a primary focus on financial institutions ranging from community banks to multi-billion-dollar institutions. She has expertise in FDICIA/SOx, mortgage/secondary marketing, asset liability management, allowance and other internal audit areas pertaining to risk faced by financial institutions and client needs. Julie holds a bachelor of science degree in accounting and master of accounting science degree from the University of Illinois at Urbana-Champaign.
Continuing Education
The Missouri Bankers Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website nasbaregistry.org.
Program Objectives — The Missouri Bankers Association is pleased to offer a seminar specifically targeted for internal audit, compliance and risk personnel in your financial institution. The purpose of the conference is to share tools and techniques intended to help internal audit and related professionals respond to the constant changes and challenges in the banking industry. This seminar incorporates practical audit strategies, best practices and case studies while also providing valuable reference materials.
Specialized Knowledge — 13 credits Instructional
Delivery Method: Group-Live