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#50692 - 12/26/02 06:18 PM Size of Internal Audit Staff
Anonymous
Unregistered

Our bank is a $700 million bank. I'm trying to get ideas on sizing of the Internal Audit staff. We currently have one auditor and one clerk. Can you give me some ideas as to the size of your Internal Audit Staff?

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General Discussion
#50693 - 12/26/02 06:51 PM Re: Size of Internal Audit Staff
rexinaudit Offline
Gold Star
rexinaudit
Joined: Dec 2001
Posts: 292
New England
$350 million asset bank, with no trust department. Majority of assets are in commercial loans, but very consumer oriented on deposit side.

We have one Audit Manager, the chief audit executive, reporting to the Audit Committee. We also have one staff auditor.
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#50694 - 12/26/02 07:14 PM Size of Internal Audit Staff
elcinoca Offline
Platinum Poster
Joined: Jan 2002
Posts: 537
Elizabeth City, NC
Anon,

We are approaching $250 million with 8 offices. It's just me and I double as compliance officer. We do have an Audit Committee comprised of members of the Board.

MarkB

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#50695 - 12/26/02 07:26 PM Re: Size of Internal Audit Staff
wlavoie Offline
Gold Star
wlavoie
Joined: Jul 2002
Posts: 338
Hell's Canyon
$350 million, 8 branches, 4 loan centers, 1 auditor - yours truly
I also test all compliance. No trust dept and commercial loans are done externally.
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Wendy LaVoie

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#50696 - 12/26/02 07:43 PM Re: Size of Internal Audit Staff
Quadspapa Offline
Power Poster
Quadspapa
Joined: Aug 2002
Posts: 3,275
Quadrupletville, Texas
250MM bank, 2 branches, 1 trust dept., and me, the lonely auditor and compliance officer (who is looking for one more person to assist). I report quarterly to Audit Committee composed entirely of outside independent Directors.
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#50697 - 12/26/02 07:48 PM Re: Size of Internal Audit Staff
Anonymous
Unregistered

$1 billion plus; l compliance officer and 1 assistant; internal audit dept. has 4 employees of which 3 are CPA's.

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#50698 - 12/26/02 07:49 PM Re: Size of Internal Audit Staff
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,310
Galveston, TX
Everyone could chime in with a wide variety of answers and they all could be right sized. I don't know how much good these answers will do you unless you know how they have structured their total internal control processes. If you decentralize internal controls, you could do it with one person, if you didn't, you might need a dozen. It all depends on your bank's internal control philosophy.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#50699 - 12/26/02 07:50 PM Re: Size of Internal Audit Staff
Anonymous
Unregistered

I fogot to add. We have 26 banking centers, trust department and large mortgage department.

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#50700 - 12/26/02 08:26 PM Re: Size of Internal Audit Staff
Bear Collector, CRCM Offline
Diamond Poster
Bear Collector, CRCM
Joined: Nov 2000
Posts: 1,830
District of Columbia
We are a 2 billion dollar Bank with 34 branches, a Trust Department, an insurance agency, and a commercial leasing subsidiary. We have three auditors. However, we discontinued conducting branch audits a few years ago - that is now done by our Retail division. We have a Chief auditor, one auditor who performs administrative audits, and one who performs compliance audits. We (Regualtory Management) work very closely with the audit department and often they will rely on our monitoring reports when deciding the scope of their compliance audits.
Leslie
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Being kind is more important than being important.

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#50701 - 12/27/02 08:12 PM Re: Size of Internal Audit Staff
LSmith Offline
Platinum Poster
LSmith
Joined: Dec 2002
Posts: 703
I work for a multi-bank holding company. We have six separately chartered banks. Total assets in holding company is over 1.2Billion. We have one auditor and assistant, and 1 compliance officer (myself and assistant). We also have an audit committee we report to.

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#50702 - 12/28/02 09:42 PM Re: Size of Internal Audit Staff
Ross A Offline
New Poster
Ross A
Joined: Dec 2002
Posts: 20
Who's your regulator?
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The opinions expressed here are my own and may not represent the views of my employer.

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