I need to start a process to audit our collateral file to ensure all collateral is accounted for. Does anyone have a form they use to help me get started?

Are you referring to Collateral Safekeeping?

If you are talking about collateral safekeeping, we use a spreadsheet and document all of the collateral we hold (usually CDs and stock). We then trace the collateral to the loan and to the applicable CD screens to make sure the collateral/hold field is completed. We have a collateral receipt ledger also and the collateral is traced to that also. We usually find that loans have paid out and the collateral has not been released and a few other minor errors. After you are reassured that the safekeeping process is fine, you can just do a random sample for the next audit.

Our spreadsheet has columns for customer name, collateral type, $ amount, the date the collateral was assigned, and the loan number. We tick for "traced items to safekeeping ledger", "traced to loan customer screen for collateral documentation", and "traced to CD screen for hold", etc. What you are trying to do is make sure there are no gaps in this process that can lead to a loss.

If you issue non-negotiable CD's, do still hold them in safekeeping? We discontinued this practice, therefore, have very few items in collateral safekeeping. For the remaining items however, you should be issuing pre-numbered safekeeping receipts. Those receipts should be periodically reconciled to the physical items held. The numerical integrity of the receipts should be maintained as they are issued and when items are released. Trace receipts indicating released collateral to paid loan or replacement.

Other controls such as adequacy of storage facility, adherence to and effectiveness of dual control and documentation of access should also be reviewed.

For CD's, since we no longer hold in s/k, I gen and cross reference a report using collateral code to identify all loans secured by CD's and a report of CD's with a hold and related loan # and verify.