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#1098763 - 12/17/08 05:43 PM Internal Audit Staff Size
Black & Gold Offline
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Black & Gold
Joined: Aug 2008
Posts: 35
Dark Side of the Moon
I'm curious as to how many internal auditors other financial institutions maintain on staff, relative to their size (e.g. number of branches, asset size). My internal audit department performs strictly internal audits, no compliance or loan review. I'm looking to benchmark my department versus others to try and help me determine if I'm under, over, or appropriately staffed. Any input is greatly appreciated!
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#1098819 - 12/17/08 06:21 PM Re: Internal Audit Staff Size Black & Gold
KYWoman Offline
Member
Joined: Feb 2008
Posts: 63
Kentucky
I have mself and one assistant. We're $181 million with 5 branches and the main office. We audit just about every aspect of the bank, including departments, branches, compliance regs, Trust Department, etc. I keep a calendar to keep up with everything.

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#1098951 - 12/17/08 08:11 PM Re: Internal Audit Staff Size KYWoman
QCL Offline
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QCL
Joined: May 2002
Posts: 6,259
NW IL
Ditto KY on branch # and staff - except I am also the compliance manager and we're $350 million.

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#1099010 - 12/17/08 09:01 PM Re: Internal Audit Staff Size QCL
RR Joker Offline
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Posts: 20,654
The Swamp
We have 3 full-time IA staff. We had 4 and I personally think that's too many. We do almost everything including compliance reviews.

We are over 1B with about 20 branches and a couple of LPOs and are located in 2 states.
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#1099018 - 12/17/08 09:11 PM Re: Internal Audit Staff Size RR Joker
Ready to Retire Offline
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Joined: Aug 2005
Posts: 2,313
Living in the land of Oz
We have one auditor-me!!!! We are $265 million in assets and have 10 branches. I do not do the compliance reviews with the exception of BSA and HMDA. We outsource our loan review and IT Audit. We do not have a trust departmetn. I do everything else.

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#1099541 - 12/18/08 04:54 PM Re: Internal Audit Staff Size Ready to Retire
RR Sarah Offline
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RR Sarah
Joined: Mar 2004
Posts: 2,487
Up North
Asset size around $175 million with one location. I have an internal audit staff of one...me! I also wear the compliance officer hat.
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#1099626 - 12/18/08 05:48 PM Re: Internal Audit Staff Size Black & Gold
Tberry Offline
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Tberry
Joined: Mar 2002
Posts: 84
Kansas
We are $350 million with 7 branches and there are two full time auditors and one part time. We do loans, IT, compliance, etc. but we do not have a Trust department.

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#1099836 - 12/18/08 08:45 PM Re: Internal Audit Staff Size Tberry
LinMarie Offline
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LinMarie
Joined: Nov 2001
Posts: 243
We are at $350 million in assets with twelve branches. Loan review and Compliance are separate. We outsource the more techinical part of the IT audit and we do offer Trust services.
We have one full time auditor and just added a part time person.

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#1099910 - 12/18/08 09:44 PM Re: Internal Audit Staff Size LinMarie
UUCU Offline
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Joined: Jun 2008
Posts: 72
We are $500m assets, 14 branches, 3 auditors who also do fraud and compliance.

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#1099978 - 12/18/08 10:34 PM Re: Internal Audit Staff Size UUCU
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,227
Galveston, TX
IMHO - Audit staff size is going to be based on scope of internal audit work and specific risks associated with the organization. Without comparing all of those factors this is an exercise in futility.
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#1100564 - 12/19/08 07:23 PM Re: Internal Audit Staff Size rlcarey
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
very good point, Randy.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1100812 - 12/22/08 02:55 PM Re: Internal Audit Staff Size RR Joker
Black & Gold Offline
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Black & Gold
Joined: Aug 2008
Posts: 35
Dark Side of the Moon
Thank you to everyone who replied, and yes of course, business risks and scope of work are always factors in determining the size of any department. It's just nice to get a quick 'gut check' based on the size of the organization, as in some cases, the business risks and scope of work is much larger in bigger organizations than in a smaller ones. I appreciate all the feedback. Merry Christmas!
_________________________
"Who would have thought that the thing that would save this company would be work. And pancakes." - Michael Scott-The Office

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#1102581 - 12/26/08 08:58 PM Re: Internal Audit Staff Size Black & Gold
DerrickAuditor Offline
Member
Joined: Mar 2008
Posts: 91
USA
$1.5 billion in assets with nearly 30 branches in three states:

Four auditors who complete financial, operational, IT, compliance, and Sarbanes Oxley audits.

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