Do you have an internal control officer and who holds that position?

We identify an internal control officer in our internal control policy and the auditor holds that position. The auditor manages the internal controls AND audits them. Seems to be a conflict.

Wondering how other banks manage their internal controls and who is doing that.

Thanks!

Management of each area is responsible for developing their internal controls.
Audit only audits the control and suggests improvements if necessary. It is up to management to implement changes

A lot of smaller banks will have an internal control officer. Their responsibilities may include the minimum control procedures for a particular state.

I have never heard of such a position, after many (too many) years in community banks. Seems like it would be redundant.




This is the process that I am familiar with.