Overview

We currently employ over 65 internal audit and compliance professionals in our New England Risk Management Services division. We also have a strong centralized support staff, including end-user technical support and information security, finance and billing, scheduling, legal, and quality control.

We have a full time professional recruiter on our staff, which gives us a significant competitive advantage in finding and recruiting the most qualified people to join our team. We have an excellent employee retention history and have attracted some outstanding new auditors to our group over the past several years. We support our employees and provide the tools, training, and infrastructure necessary to allow them to perform at the highest levels. We hire only experienced financial services professionals and vet their background, professional qualifications and references thoroughly before they are hired.

Internal audit for financial institutions is our core business and area of focus. Unlike many firms that deliver internal audit as an add-on, all of our services are built on a foundation of professional internal audit standards and practices. We provide support for every audit, review, and special project in the form of audit work papers and corresponding source documentation. All services are coordinated and delivered through the same organizational structure and utilize a consistent audit methodology, regardless of the area under review (i.e., operations, technology, finance, consumer compliance, BSA/AML, or Trust).

Our approach and methodology is risk-based and designed to leverage our extensive industry knowledge and experience. The objective is to maximize the effectiveness of each review and ensure that the most time possible is spent on the highest risk areas. Our former bankers and regulators have developed (and continually update) extensive proprietary work programs, as well as defined work paper and test documentation standards to ensure the utmost consistency and quality in every completed audit in accordance with industry standards.

Full Outsource Internal Audit Solutions:

Our professional full outsource services include all of the following:

  • Dedicated Director/Engagement Manager to oversee the entire relationship
  • Initial Risk Review and Presentation to the Audit Committee
  • Inherent Audit Risk Assessments for Internal Audit, Compliance and IT
  • Detailed Risk-Based Three Year Audit Plan
  • Annual Audit Plan and Budget by Quarter
  • Presentation of the Plan to Senior Management and the Audit Committee
  • High risk areas receive annual audit coverage
  • Medium risk areas are covered two years and low risk areas every three years or less
  • Flexible, customized audit approach, focused on real-world risks and key controls
  • Annual Risk Assessment and Detailed Plan Updates

Co-Sourced Internal Audit Solutions:

As directed by your internal audit department and audit plan, we can provide staff support or full audit services in many areas. We can fully manage selected audits for you, or we can assign our professional staff auditors to work side–by-side with your staff. Use our programs or yours…or a combination of both. We have experience working with banks of all sizes, including large regional banks and credit unions. We also offer a full range of SOX/FDICIA consulting and testing services.

Agreed Upon Procedures:

Any time you need help with an investigation, look-back, risk assessment, confirmations, file reviews or other special project, we have the talented and experienced audit professionals you can count on.