Some organizations don't put that much importance to their Audit Departments and infact their Auditors are low paid compared to the other staff of the organization. They are there because they are required to be there. Audit is a cost center and does not add any value to the organization's profit margin so who cares about the auditors. Most organization put more value to their Credit Officers and Treasury staff who contributes to their profit. Attention is paid to the Auditors when there is a major fraud, then they would blame the auditors. You think you can add value to your organization but your management does not share your view. In fact they might outsource you to save expense

Gee Joe, I am sorry to hear that. Our IAs are awesome (and not the lowest paid in the office either). They help me tremendously every day. Of course, it depends on the culture you have at your shop. But keep broadcasting the fact that the IAs are there to keep the bank out of trouble, it's better for them to find something wrong and rectify it than have an examiner find it and wonder why it wasn't looked at.

Gentlemen

I need your sympathy !!

Coming from the Ops part of the bank, I understand the stigma of not "making" money for the bank. But really, you are "saving" money and other intangibles for the bank - isn't that more important.

If, as an auditor, you can prevent financial penalties, additional remediation work for reg exceptions, blemishes to the bank's public image, etc . . . you are doing far more for the bank than a producing loan officer. Take pride in what you do - whatever you do.

-g

Joe - it over it - put in your time, make sure to take advantage off all training, courses, etc. and if you are unhappy down the road, look for another place that will appreciate your input and skills. On the other hand, also make sure that the type of work you are doing is your bag and if not, look into other areas.

Joe,

I do not fall under the category of gentlemen, but I will respond anyway.

What you have said is actually quite common. Many auditors report their findings only to have management ignore them. An examiner once informed me that this is often the case until the bank is hit with some hefty penalties. Unfortunately, this often results in management blaming the auditor who was in fact trying to do their job, but without the support of management.

Audit does not directly make money for the bank, but as stated above it can save the bank a great deal of money in the long run.

Stick to the facts, try not to step on too many toes in the process and make excellent records of all your findings and recommendations. This way when the time comes that management gets it from the regulators, you have proof of your efforts to show the board and the examiners that it was not your fault.

Someone once gave me some advice that really helped me put my job in the proper perspective. He told me that my job was to locate the holes in the leaking ship. It was not my responsibility to fix all the leaks. Hope this helps you too. Just keep good paper trails to show where you found the problems and let management do with it what they will!

Auditors are somewhat like umpires/referees, in this respect: when you do your job well, nobody notices you; when you do your job poorly, everyone notices you. But they can't play the game without you.

Auditors and Compliance Officers can commiserate on many of the same things. Of course, the disadvantage of being a Compliance Officer is that you are also expected to "plug the leaks", but many times do not have the necessary resources and tools to do that either.

Relax, keep your resume updated, keep up with your network contacts and training opportunities, and repeat after me:

On their deathbed, no one has ever been heard to say
"Gee I wish I'd spent more time at the office."

(And I often must tell myself the same thing. And yes, I find myself often asking "what's the use?")

I like that Robert.

With Sarbanes-Oxley and increased emphasis on corporate governance and internal controls, our jobs as internal auditors become increasingly important. The demand for internal auditors is already increasing. It's hard to see the value when you're battling a brick wall. But a well-documented audit is hard to argue with in the end. Especially when you've helped keep your bank from examiner criticism.

I liked the ship analogy - that's exactly what we're supposed to do. Thanks for a bright spot on a Monday!

I share your frustration. To quote a forgotten source, "Audit and compliance add nothing to the bottom line but, they help to keep the bottom from falling out".

Hang in there.

Thank you all for your sympathy. I feel much better now (I just had a cold one). Actually, I feel that I am much appreciated now.