CPE: This program will be submitted for CPE. Stay tuned for details!

The North Carolina Bankers Association is happy to announce that Crowe LLP will present a two-day internal audit seminar on October 29 & 30, 2024, covering the following topics:

Auditing the Lending Function 

• Overview of the Lending Function
• Analysis of Lending Sub-Processes
• Internal Audit Objectives and Procedures:
  • Commercial, Consumer, Real Estate, Credit Card
  • Loan Loss Reserve
  • Letters of Credit
  • Default Management 

Auditing Mortgage Banking Functions

• Overview of the Mortgage Lending, Secondary Marketing, and Servicing Functions
• Analysis of Mortgage Lending, Secondary Marketing, and Servicing Sub-Processes
• Mortgage Lending, Secondary Marketing, and Servicing Internal Audit Objectives
• Mortgage Lending, Secondary Marketing, and Servicing Internal Audit Procedures
• Mortgage Fraud
  • Fraud Statistics
  • Fraud Schemes
  • Fraud Prevention

Auditing Current Expected Credit Loss (CECL)

• Governance and Oversight
• Project Management / Gap Assessment
• Technology and Third-Party Risk
• Model and Methodology
  • Risk Identification and Segmentation
  • Current Conditions
  • Reasonable and Supportable Forecasts
  • Reversion
  • Acquired Loans
  • Debt Securities

• Data (Inventory, Governance)
• Validation
• Reconciliation
• Policy
• Segregation of Duties
• Reporting and Disclosures

Ethics per the IIA Global Internal Audit Standards

• Overview
• Principle 1 Demonstrate Integrity
  • Standard 1.1 Honesty and Professional Courage
  • Standard 1.2 Organization’s Ethical Expectations
  • Standard 1.3 Legal and Ethical Behavior
• Principle 2 Maintain Objectivity
  • Standard 2.1 Individual Objectivity
  • Standard 2.2 Safeguarding Objectivity
  • Standard 2.3 Disclosing Impairments to Objectivity
• Principle 3 Demonstrate Competency
  • Standard 3.1 Competency
  • Standard 3.2 Continuing Professional Development
• Principle 4 Exercise Due Professional Care
  • Standard 4.1 Conformance with the Global Internal Audit Standards
  • Standard 4.2 Due Professional Care
  • Standard 4.3 Professional Skepticism
• Principle 5 Maintain Confidentiality
  • Standard 5.1 Use of Information
  • Standard 5.2 Protection of Information

Auditing Asset/Liability Management

• Interest Rate Risk (IRR) Management Administration
• IRR Management Operations
• Liquidity

Recent Trends in Financial Institution Fraud 

• Fraud Statistics
  • Suspicious Activity Report (SAR) Filings
  • ACFE’s 2024 Report to the Nations
  • Pandemic-Related Fraud Schemes
• 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 Flag
• Fraud Schemes
  • Loan Fraud
  • Fraudulent Electronic Funds Transfers
  • Teller Cash
  • Certificates of Deposit
  • Identity Theft
  • Fictitious General Ledger Entry
  • Phishing Scams
  • Cyber Threats

Accommodations:

Hotel: Hampton Inn & Suites Raleigh Midtown by Hilton 

Address: 1229 Wake Towne Drive, Raleigh, NC 27609

Distance from hotel to NCBA Office: 1.5 miles

Directions to book:

Using the web:

• • • Click here to access the hotel website.
    • Select the dates you need
    • Click Special Rates
    • Enter Corporate Account # 2641069

Using your Hilton Honors App 

• • • Search Hampton Inn & Suites Raleigh Midtown
    • Select your dates
    • Select “Special Rates” tab
    • Enter Corporate # 2641069 into “Corporate Account” field.

Your 18% discount will automatically be applied.

Speakers:

• E. Michael Thomas, CPA, CIA, CBA, CFE, CRP, CFF, CRMA

  Mike Thomas is an Internal Audit/Fraud Prevention Consultant, specializing in the banking industry.  Mike recently retired as a Partner in Crowe LLP’s Financial Institution Risk Consulting practice in the Southeastern United States.  He has over forty years of broad-based experience, specializing in the banking industry.  While at Crowe LLP, Mike’s responsibilities included advising clients in areas such as risk management, fraud prevention and quality assurance assessments.  In addition, he coordinated contract services for internal audit, information technology audit, loan review and compliance outsourcing at financial institutions, as well as working with clients to re-engineer their internal audit, risk management and fraud prevention functions.  Prior to joining Crowe LLP, Mike was an Internal Audit Services Director for PricewaterhouseCoopers LLP and served as Vice President & Audit Group Manager for SunTrust Banks (now Truist).

  Mike is a frequent lecturer on internal audit, risk management, fraud prevention and banking related topics.  He is a Distinguished Faculty Member of the Institute of Internal Auditors, an Adjunct Faculty Member of the Association of Certified Fraud Examiners and has been an instructor for the Bank Administration Institute, the Financial Manager’s Society, the Credit Union National Association, the America Bankers Association and the Georgia, Alabama, Louisiana, Tennessee, Missouri and Florida Banker’s Associations.  Mike is a member of the Institute of Internal Auditors, the Association of Certified Fraud Examiners and the Bank Administration Institute.

  Mike holds a BBA degree in Accounting from Columbus State University and is a graduate of the Bank Administration Institute’s School for Bank Administration (Internal Audit Management).  He is a Certified Public Accountant, Certified Internal Auditor, Certified Bank Auditor, Certified Fraud Examiner, Certified Risk Professional, is Certified in Financial Forensics and has a Certification in Risk Management Assurance.

• Darren Shuster, CIA

  Darren Shuster is a Senior Manager in Crowe LLP’s Financial Institution Risk Consulting practice in the Southeastern United States. He is responsible for managing internal audit and risk consulting services in a wide range of industries and companies. As a Senior Manager, Darren has been responsible for engagement planning, client communications and coordination, identifying risks, controls, gaps and creating remediation plans, testing design and/or operating effectiveness of controls, performing inquiries and walkthroughs, learning client’s processes, managing resources at multiple levels, and building client relationships. Darren also leads Crowe’s efforts in implementing COSO and SOx 404 internal control design and documentation activities at financial institution clients and developing methodologies for performing these activities.

  Darren primarily specializes in financial institutions ranging from small community to multi-billion dollar financial institutions. His primary expertise is in the area of mortgage banking, fraud risk assessments, as well as in FDICIA and SOx control design and implementation.  Darren is a member of the Institute of Internal Auditors.

  Darren holds a BBA degree in Finance from Miami University and is a Certified Internal Auditor.

• Stacia Vernon, CFE

  Stacia Vernon is a Senior Manager in Crowe LLP’s Financial Institution Risk Consulting practice in the Mid-Atlantic United States. Stacia has over 10 years of experience providing risk-based operational consulting services and leading engagements for financial service organizations. Stacia is primarily responsible for end-to-end project management, including planning and managing internal audits, assessing the design and operating effectiveness of internal controls and reporting key findings and recommendations to key stakeholders including management, the Audit Committee, and those charged with governance.

  Stacia’s primary areas of expertise are financial institution internal audit and risk management. Stacia has industry expertise in asset and liability management (ALM) and interest rate risk (IRR), Sarbanes-Oxley/FDICIA, the COSO internal control assessment, trade finance, and foreign-owned banking. Her responsibilities include oversight of Crowe services teams for all services provided to our clients, the performance of risk assessments, creation of remediation plans, and identification of value-add recommendations.

  Stacia holds a BS degree in Accounting from Miami University and is a Certified Fraud Examiner.

About Crowe LLP:

Crowe LLP (www.crowe.com) is a public accounting, consulting and technology firm that uses its deep industry expertise to provide audit services to public and private entities. The firm and its subsidiaries also help clients make smart decisions that lead to lasting value with its tax, advisory and consulting services.

Crowe specializes in the financial services industry.  Whether we’re talking with companies throughout the industry, maintaining relationships with regulators, or facilitating valuable peer groups, our specialists live and breathe financial services – and that’s why we’re consistently valued by our clients and recognized as an industry leader.  Our purpose is to use our experience and expertise to advance the possibilities of what banking and financial services can be.

• 2,000+ financial services clients
• 3 / 4 of the top 100 U.S. banks work with Crowe
• Ranked #1 in number of banks audited – both public and private companies
• 400 financial services organization have stayed with us 10+ years
• 9/10 Crowe banking specialists stay with us – and our clients – from year to year

Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.