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#59555 - 02/06/03 02:21 PM Internal Audit of Non-Deposit Investment Products
Richard Offline
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Joined: Feb 2003
Posts: 5
I am the internal auditor of a community bank (just under 1 billion in assets)and we are regulated by the OCC. We have just contracted in a 3rd party brokerage arrangement with a company to sell non deposit investment products. We have formed a subsidiary of the bank (insurance agency)in which we will process the income due to the bank. I need help in formulating an internal audit program and specific procedures (OCC tested and approved) that will adequately address issues in the audit of this area. Any programs that can be shared or contacts that I can make with individuals who are OCC regulated and have gone through an exam in this non deposit investment area would be greatly appreciated. I am new to this concept and only have the comptrollers handbook (2/94) on Retail Nondeposit Investment Sales as a guideline, but no specific audit procedures or detailed testing that I can follow. Thanks!!!
Rich V.

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#59556 - 02/06/03 05:23 PM Re: Internal Audit of Non-Deposit Investment Products

I would be happy to share my internal program. We also are OCC regulated smaller than you guys ($300 million) but have offered NDIP's since 1997. E-mail me at

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