We have significant experience working with community banks and are cognizant of the technological, regulatory, fraud, operational and business challenges facing bankers today. In working with your bank, we will not only provide technical audit and risk management assistance, we will share proven industry practices and bring pragmatic solutions to the Bank. NEBSG core services areas of internal audit, regulatory, technology, operational, strategy feed our firm’s knowledgebase and position our professionals with an in depth understanding of business, processes, systems, environment and objectives in every function of your bank – retail, commercial, mortgage, operations, finance, HR, and we have unique experience in IRR, trust, Insurance agencies, broker/dealers and loan IT.
Why NEBSG?
What really differentiates NEBSG from other internal audit outsourcing firms is the fact that we not only deliver risk services (e.g., risk identification and assessment) and controls testing; we also deliver operational performance assessment information and consultative advice.
As we review and test your business practices, we also review and assess the productivity and quality of the work being performed. We have operational data and statistics from over 100 community banks and from numerous studies which we will benchmark your functional performance against. Thus an area under the “audit lens” is assessed for its risks, risk management, controls and performance. The NEBSG approach to internal audit services is comprised of three components: Relationship Component
- • Tom Grottke and our senior banking professional directly advise the CEO and Audit Committee
- • Quarterly meetings with Audit Committees
- • On-Call 7 by 24 for advise, consultation and emergencies
Risk Based Component
- • Annual Enterprise Risk Assessment (ERA) linked to the control environment that drives the internal audit program
- • Every audit/review area receives a Functional Risk Assessment bringing the ERA to each unit and confirming the preliminary assessment and plan, or reassessing the risk and work based on specific facts and circumstances with Department Management
Evidential Matter Component
- • Surprise basis testing, focused on risk areas, and bringing a culture of control to all units
- • Old-fashioned “tick and tie” testing and actually observing and touching evidence to gain assurance
- • Controls testing throughout the year to address SOX objectives with the emphasis on yearend
For and further detail on NEBSG’s services, please call Tom Grottke or Jennifer Healy at (860)436-6149.