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#1499193 - 01/24/11 05:10 PM survey - how big is your audit dept
scottb Offline
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We are a $140 million bank. About $67 million in loans. Our auditor does our loan review in house along with the other various internal audits (average 2-3 per month). BSA, IRR, and IT audits are outsourced. Does this seem like too much for one person? How many audit folks make up similiar sized banks?

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#1499197 - 01/24/11 05:13 PM Re: survey - how big is your audit dept scottb
Skittles Online
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I'm with a $240 million bank and I'm the sole internal auditor. I'm also the compliance officer, review appraisals, perform branch cash counts, monitor all loans for compliance, set up on-line classes, and I'm secretary to the Audit Committee. That being said, we do have a full-time Loan Review Officer. We also outsource or BSA, IT and Compliance Audits.
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#1500424 - 01/26/11 04:09 PM Re: survey - how big is your audit dept Skittles
Southern gal Offline
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TN
We're at 92 million, I'm both internal auditor & compliance officer. I do all audits except IRR, which is outsourced. My audit/compliance schedule keeps me busy all year long.
I have one part-time person that helps out, when she's not doing loan review & helping with payroll.

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#1500431 - 01/26/11 04:12 PM Re: survey - how big is your audit dept Southern gal
rlcarey Online
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This, like all such blind surveys, without a direct comparison of the specific risk profiles of each institution it is an excercise in futility.
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#1500534 - 01/26/11 05:33 PM Re: survey - how big is your audit dept rlcarey
J2C Offline
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Big Brother knows and that's a...
350M. VP of Internal Audit and her assistant. Loan review is outsourced, trust audit is outsourced, IT audit is outsourced. She would manage better with another staff person.

I previously (10+years) worked for a 500M bank, we had VP of IA, Assistant, Staff Auditor and an clerical audit function as well. They now have a staff of 5 because the IA is now the Risk Officer.
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#1500733 - 01/26/11 08:09 PM Re: survey - how big is your audit dept Skittles
kendrar Offline
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We are a $186 million bank and I am the sole internal auditor. We have an external audit firm that comes in and completes a financial statement audit each year. We also have IT audits completed. We have firms contracted to do loan review throughout the year. I complete all internal audits and quarterly count all cash the bank has. We do have a compliance officer. We also periodically have an external firm do a BSA audit, this was recommended by the examiners.

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#1500880 - 01/26/11 09:50 PM Re: survey - how big is your audit dept kendrar
J2C Offline
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Originally Posted By: kendrar
We are a $186 million bank and I am the sole internal auditor. We have an external audit firm that comes in and completes a financial statement audit each year. We also have IT audits completed. We have firms contracted to do loan review throughout the year. I complete all internal audits and quarterly count all cash the bank has. We do have a compliance officer. We also periodically have an external firm do a BSA audit, this was recommended by the examiners.


Not to start another topic, but is there a reason you are doing quarterly cash counts? Our IA doesn't do cash counts at all unless they are auditing a branch, and even then they only do a sample of tellers. The monthly cash counts are done by a supervisor in the branches. Just seems like a lot for an internal auditor to be doing. I wouldn't think branch cash to be a high risk item (unless of course you have had issues.) Just my opinion.
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#1500972 - 01/27/11 12:21 AM Re: survey - how big is your audit dept J2C
kendrar Offline
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The Chairman of the Board of Directors (also a majority shareholder) requires that the internal auditor audit all cash the bank has on a quarterly basis. We haven't had any issues since my employment, however, just a few weeks ago a competitor in one of our towns did experience some issues and there have been issues in the past. It is just part of my duties.

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#1500986 - 01/27/11 01:26 AM Re: survey - how big is your audit dept kendrar
DerrickAuditor Offline
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$2 billion assets - audit department of 4. We audit all compliance areas, IT, Trust (another $1.5 billion assets under management), brokerage, finance/accounting, operations, and all SOX testing. We do not outsource except to fill a temporary need (FMLA, termination, etc.).

Compliance, information security, and loan review are separate departments with different lines of reporting because the FDIC and Fed Reserve made us split up a few years ago. We used to be separate departments but under one umbrella that reported to the audit committee.

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#1503719 - 02/01/11 10:43 PM Re: survey - how big is your audit dept DerrickAuditor
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$1.2 billion. 3 FTEs. Loan review, some IT and some compliance outsourced.

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#1503948 - 02/02/11 05:30 PM Re: survey - how big is your audit dept SnowRed
ACBbank Offline
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New York City
While I agree with Randy, I'll add some firewood. $450MM and growing. Located in a HIDTA and HIFCA. Moderate number of high risk customers and products/services. However, none of the higher risk stuff (Private Banking, Foreign Corresspondents, etc.).

I run the BSA/AML and CRA Department. I report to the Compliance Officer who handles deposit, Reg. O and the remaining items. That said we rely on a consultant for the majority of our lending compliance (Reg. Z, RESPA, etc.).
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#1504916 - 02/03/11 09:24 PM Re: survey - how big is your audit dept ACBbank
Goal Keeper Offline
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We are at $600M. I'm the Compliance Officer, CRA Officer and the Internal Auditor. My staff of 4 includes loan review, QC review, HMDA reporting and Teller auditing. We outsource IT and ACH audits yearly. We do not have time to look at everything so we use the risk-based approach.

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#1723864 - 07/26/12 07:45 PM Re: survey - how big is your audit dept scottb
.M. Offline
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Just under $250M. I am one of two assistants to our Compliance Officer. We do not outsource any audits and also use a risk-based approach. We report quarterly to the Audit Committee that's made up of our department and our Board Members and add/adjust areas of audit as needed/requested.

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#1723942 - 07/26/12 09:43 PM Re: survey - how big is your audit dept scottb
Midnight Offline
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Upper Mid West
350 Million in assets - 1 auditor performing all audits. Loan review is done by someonelse.

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#1723948 - 07/26/12 09:59 PM Re: survey - how big is your audit dept scottb
rlcarey Online
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We really aren't going to revive this 18 month old thread that is a repeat of at least a dozen more like it - are we?????
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#1724013 - 07/27/12 11:59 AM Re: survey - how big is your audit dept rlcarey
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Originally Posted By: rlcarey
We really aren't going to revive this 18 month old thread that is a repeat of at least a dozen more like it - are we?????


Looks like we are. Comparing apples to oranges to bananas.
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#1724027 - 07/27/12 12:41 PM Re: survey - how big is your audit dept scottb
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smile at Backstreets.
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