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Delinquent Loan Payments
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We currently do not allow for our Collections staff to post payments to member accounts. Requests are submitted to our Call Center to process transfers from member accounts to their loans. However, due to the increase in volume this task is becoming overwhelming for CC staff. How does your credit union handle these situations? With mitigating controls, what concern would there be for allowing Collections staff to post payments?

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Record Retention
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When formulating a Record Retention Plan for Security Fraud, keep in mind the criminal statute of limitations. For example, I just had a Federal Prosecutor contact me a few months ago for a Bankruptcy Fraud case I filed over six years ago.  The statute of limitations for Bankruptcy Fraud is five years AFTER a court order is issued or denied. In this case the Bankruptcy order was granted 18 months after I filed the case with the US Postal Inspectors.  I have also had a bad check case arrest investigated four years after the incident.

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Internal Auditor Incentive Plan
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Our credit union ($1.1B in assets) is rolling out a new management incentive plan.  As the Internal Auditor I'm on the management team.  HR and the CEO are having discussions about how to tie the IA role into the incentive plan. Does anyone else participate in bonus/incentive plans for the credit union?  If so, how is it structured? ThanksDerek Williamson (dwilliamson@ttcu.com)

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Late Fees on Delinquent Loans
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I am posting a question from the credit union's collections supervisor.   Do any of you know if there is a regulation against charging more than one late fee per month on delinquent loans?

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HR Audits
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Do any of you perform an audit of your Human Resources area other than a payroll audit? If so what do you look at and why, and would you share the audit program? If you outsource / co-source the audit, what do you have the externals review and why?

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Wire Xchange Audit Program
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We've switched from going directly through Fedline Advantage to going through WireXchange (provides increased automation - no manual posting to accounts). Does anyone have a wire transfer audit program based on WireXchange?

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Internal audit programs and compliance
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We are looking for a service provider that has non-compliance and compliance internal audit programs, any thoughts or suggestions?thanks!Alison Herrick, CPA

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Overdraft Protection Fees
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This question was posed a few months ago by Amy.  Now that the class action lawsuits are popping up (it is a hot topic around here), I'm hoping to add to the responses to that post.   1)  Do you monitor excessive use?  2)  What have you determined as excessive use? 3)  What steps do you take when they hit that level?  We have a report that identifies the members that have hit over $1,000 in fees.  We currently are not actively contacting or blocking our members at any point. Thanks for any feedback!

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OFAC Screening
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Hi all,I am looking for some current stats on your OFAC screening process. Do you OFAC screen non members for cashier checks issued as in the case of loan proceeds? Do youu OFAC screen "unknown businesses"? If you do screen in these situations do you have a dollar limit? If so, how much..and have you ever had a "Match".  thanks,

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Request For Proposal
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I am requesting bids from external audit firms for the financial statement audit.   I could use some help with the format for my requests.  If you have a template or are willing to share a copy of your Request for Proposal I would greatly appreciate it.  You can email me directly at theresa@weststar.org Thanks so much for your help! T

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