Internal Audit Seminar (Virtual)
Two Half Day Sessions - 9:00am to 1:00pm

Conference/Seminar/School Gail Queen

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.

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Agenda & Speakers

The Virginia Bankers Association, in partnership with Crowe LLP, will present a two half-day Internal Audit Seminar November 4-5, 2020, covering the following topics:

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

  • COVID-19 Considerations (to be updated with current trends closer to event date) 
    • Revisions to the Internal Audit Plan: A Risk Based Approach
    • PPP Forgiveness
    • Cybersecurity in a virtual environment
    • Forbearance Agreements and Accounting for CARES Act Modifications
    • Control operation n a virtual environment
  • LIBOR Index Transaction

Asset Liability Management

  • Interest Rate Risk
    • Overview
    • Assumptions
    • Model Governance
    • Management Controls
    • COVID-19 Considerations
  • Liquidity Management
    • Overview
    • Contingency Funding Plan
    • Management Controls
    • COVID-19 Considerations

1 CPE credit for every 50 minutes of training will be offered.

About the Instructors

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).

Stacia Schacter is a manager in the Business Risk Consulting practice.  Stacia has provided risk-based consulting services to financial service organizations, ranging in size from community retail banks to multi-billion dollar, multi-national financial services clients including foreign-owned Agencies. 

Stacia has a background in financial statement evaluation of public and non-public clients with industry expertise in loan loss allowance evaluation, asset and liability management (ALM) and interest rate risk (IRR), Enterprise Risk Management (ERM), loan quality, grade, and performance review, trade finance, foreign-owned banking, Sarbanes-Oxley and the COSO internal control assessment. As a manager, Stacia performs 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 relationships.

Stacia is a Certified Fraud Examiner (CFE).

Registration Fees

Members & Non-members – $405

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.