Internal Audit Seminar
Two-day seminar in partnership with Crowe LLP

In Person Gail Queen

8:00 a.m. to 4:30 p.m.
VBA Training Center
4490 Cox Road
Glen Allen, VA 23060

This event is designed for Internal auditors, compliance officers, senior management and any officer in the bank responsible for deposit operations, corporate governance or electronic funds.

Register Now!

Agenda & Speakers

Auditing Electronic Funds Transfer

  • Overview of the Electronic Funds Transfer Function
  • Analysis of Electronic Funds Transfer Sub-Processes
  • Internal Audit Objectives and Procedures
    • Wire Transfer
    • Automated Clearing House (ACH)
    • Internet Banking
    • Cash Management
    • Remote Deposit Capture
    • Mobile Deposit Capture
  • NACHA Rules 
    • “Same-Day” ACH Processing – 3 phase implementations
    • Unauthorized Entry Fees (UEF)
    • ACH Network Risk and Enforcement
    • Impact of EMV
    • Expanded Addenda Records (proposed)
    • Compliance and Operational Topics (proposed)

Auditing the Deposit Function

  • New Accounts
  • Dormant Accounts
  • File Maintenance
  • Overdrafts, Uncollected Funds, and Kiting Suspect Review
  • Cash Letter Adjustments
  • Item Processing
  • Employee Accounts
  • Reconcilements

Transforming Internal Audit

  • Internal Audit Strategy Considerations
  • Process Advancements 
  • Resource Implications 
  • Effective use of technology

The Three Lines of Defense and Internal Audit’s Role in Effective Risk Management

  • Explanation and discussion of each line of defense 
  • How to recognize who the players are in each line of defense
  • How to compare and contrast the risks and focus of each line, including the dependencies

Data Analytics 

  • Overview of Computer Assisted Audit Techniques (CAATs)
  • Adding Value through Data Analytics 
  • Practical Techniques and Implementation Challenges
  • Continuous Monitoring

Recent Trends in Financial Institution Fraud

  • Fraud Statistics 
    • Suspicious Activity Report (SAR) Filings
    • ACFE’s 2018 Report to the Nations
  • Fraud Characteristics and Conditions
    • Weakness in the system of internal control
    • Lack of effective internal audit
    • Limited or no review of employee accounts
    • Lack of Board involvement or weak Audit Committee
    • Poor staff morale or high turnover
    • Incomplete or missing documentation
    • Inadequate monitoring systems
    • Internal Fraud Red Flags
  • Fraud Schemes
    • Loan Fraud
    • Fraudulent Electronic Funds Transfers
    • Teller Cash
    • Certificates of Deposit
    • Identity Theft
    • Fictitious General Ledger Entry
    • Phishing Scams
    • Cyber Threats

About the Instructors

Machelle Rinko is a Senior Manager in the Northeast Risk Consulting practice and is responsible for managing full scope and co-sourced internal audits, Regulatory Compliance (primarily 12CFR9), SSAE16 reviews for Trust Operations, Sarbanes-Oxley Section 404, Quality Assessment Review, and annual risk assessment engagements. Machelle’s clients have ranged from small community banks to large, multi-billion dollar, multinational financial institutions.

She has over 24 years of experience providing operational and regulatory risk consulting to financial institutions, including more than 9 years as an internal auditor with regional and national institutions; her primary is of expertise is internal auditing, including a significant background in lending, including loan servicing and asset based lending.

Machelle also serves as a Senior Engagement Manager. She is responsible for annual engagement planning, client communications and coordination and overall technical and quality assurance for individual internal audit segments. Machelle works with management to develop annual risk assessment and internal audit plans. She works closely with the engagement executive on final client deliverables, as well as Audit Committee communications and deliverables. 

Machelle is a Subject Matter Expert –Operations, Risk Assessment, and Sarbanes Oxley Implementation and Compliance. Machelle holds a B.A. in Business Administration from Youngstown State University. She is a Certified Internal Auditor (CIA), Certified Fiduciary & Investment Risk Specialist (CFIRS) and Certified Public Accountant (CPA).

Maria Mora is a Senior Manager in the Business Risk Consulting practice. She has engaged in various internal audit engagements within the financial services industry. Maria is responsible for risk assessment, Sarbanes-Oxley (SOx). Regulation AB, and internal audit projects. Her clients range from community and regional banks to large multi-bank holding companies.

Maria’s primary area of expertise is financial institution risk management and internal audit. Maria has been responsible for engagement planning, client communications and coordination, including preparation of final report and Audit Committee packages. 
Maria is responsible for performing risk assessments, identifying risks, controls, gaps and creating remediation plans, testing design and/or effectiveness of controls, performing inquiries and walkthroughs, learning client’s processes, documenting retained information, managing staff and building client relationship.

Maria is a Certified Public Accountant (CPA).

Registration Fees


Date Price
Through August 30, 2019 $375
August 31 – September 19, 2019 $405
September 20 – October 9, 2019 $435


Date Price
Through August 30, 2019 $875
August 31 – September 19, 2019 $905
September 20 – October 9, 2019 $935

Register Now!

VBA Event Cancellation Policy

All cancellations will be charged a $25.00 administrative fee. Cancellations received less than 72 business hours before the program will be charged a $75.00 administrative fee plus any additional fees associated with the training. Substitutions are allowed prior to beginning of course.

Inclement Weather

In case of inclement weather, please check the VBA Event Hotline for updates on the status of VBA events. 

Hotline Number (804) 819-4739

Special Needs & Americans with Disabilities Notice

If you have special needs that may affect your participation in this event, please contact Gail Queen at (804) 819-4720 to discuss accommodations.

Hotel Information

Hyatt Place Richmond-Innsbrook
4100 Cox Road | Glen Allen, VA 23060

The VBA has reserved a block of rooms at the Hyatt Place Richmond-Innsbrook for $124.00 plus taxes/fees.  In order to take advantage of this reduced rate, reservations must be made by September 18, 2019.  Reservations can be made online here.


View sponsorship opportunities here.  For more information, please contact Amy Binns at or (804) 819-4726.