Does any of your Credit Union's send out new account verifications? If so, can you please provide me a copy for review. If not, are there are other procedures someone at your CU is performing in replacement of new account verificaitons? If so, what?
I'm interested in knowing if there is a Credit Union that is successfully using the Kiting piece of Verafin. Our staff has claimed that it is cumbersome and not effective - I'm trying to find out what we are missing or not doing. We have found Verafin to be a very helpful tool - but just not with Kiting - yet.
Our committee has shared our plan in the past with both board and management. They are considering constricting this somewhat, and asked me to poll the ACUARP members:Do you share your audit plan with both board and management?Or board only?Another option we discussed was to share the plan with either, but scramble the calendar, to avoid having management "clean up" an area right before an audit. Does any IA department out there do that?
Does anyone have any recommendations for companies that perform commercial loan reviews? Thanks!
We do not require employees take a minimum number of consecutive vacation days. Is this a control used by your credit union? If yes, is it specific to perceived high risk positions? Any input you might have will be appreciated. Thanks, David ButzBlackhawk Community Credit Union
Curious if anyone has in place a ACH Risk Managment policy/program that is implemented in which they could share. This is inluded as part of the ACH Risk Assessment. Any information/documents you could provide would be greatly appreciated.Thanks
Hi,
I'm curious how often your credit union gets a legal opnion on your dealer contracts/agreements? Is it sufficient enough to only have a legal opinion on the contract once if it hasn't been updated since then?
Thanks for the feedback in advance!
Samantha Cornell
BayPort Credit Union
Our SC allows the CEO to attend our monthly meetings, another employee to take minutes as well as managers if necessary along with our four committee members. I think we have an independence issue. The CEO wants to take charge when at all possible.Can you tell me who attends your regular SC meetings and any reporting (administrative etc.) responsibilities to the CEO?Thanks so much.
Has anyone ever dealt with a key employee in acct. filing a bankruptcy? Do I need to put additional controls in place or remove some of their duties? Should I notify the audit committee/externals?I've never had to deal with this situation before, so any help would be appreciated.
If you make these types of mortgages, how does your credit union handle the quality control plans? Do you outsource? If so, does anyone internal check the checkers and if so, who? If you do the quality control internally, who does it? Is internal audit involved? If you have a quality control plan you can share, please send it to barbara.franco@gecu-ep.org. If you need more info to answer the questions, please call me at 1-800-772-4328 x 8211. We currently do FNMA and Freddie loans but have been approved to do VA and FHA. As each have d
