Chairman’s Message — October 9, 2013

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Scott White, FSAB Chairman

FSA Times Home Page

The fourth quarter is the busiest time of year for many of us, professionally and personally. Budgets and holidays make the final months fly by quickly. When I last wrote in July, The IIA’s International Conference in Orlando was just wrapping up. I hope you had a chance to attend the conference and were able to take part in our pre-conference financial services sessions. They were well attended and I want to thank all of our participating presenters and panel members for great discussions.

I hope you also had a chance to participate in the two most recent webinars on enterprise risk management and social media. If you missed them, or any other webinar in 2013, they are available for playback for FSA members. Remember that continuing professional education credits are only available for attending live webinars. Our final webinar of 2013 will feature Carol Beaumier, managing director, Protiviti, on Dec. 5, and an update on regulatory compliance. Registration details will be shared with members via email and the FSA site.

October also is the time when budgets for 2014 are being planned. While considering your training budget, keep in mind the New York City Regional Conference. Several of our Financial Services Advisory Board (FSAB) members are heavily involved in planning the conference, which will have a heavy financial services emphasis. Stay tuned for the date, location, and agenda for this educational offering.

I’d like to welcome four new members to the FSAB: Travis Finstead, senior vice president and director of internal audit for Zions Bancorp; Dale Jeanes, general auditor for Branch Bank and Trust; Denise DeMaio, chief auditor for TD Bank Group; and Mark Sparano, chief audit executive for U.S. Bancorp. All bring a wealth of experience in financial services to the Board and an enthusiasm for internal auditing. We are looking forward to working with them. We also say goodbye to Board member Jim Rusch, director of corporate risk management at U.S. Bancorp, and thank him for his service to the FSAB and The Institute.

Your Board continues to be committed to providing outstanding educational opportunities for our members. If you have any questions, concerns, or suggestions, please contact us.

Warmest regards,

Scott White, CIA, CFSA
Financial Services Advisory Board Chairman

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Chairman’s Message — July 12, 2013

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Scott White
FSAB Chairman

FSA Times Home Page

It’s already July, which means The IIA’s International Conference is fast approaching. I hope you will be attending the conference in Orlando July 14-17 to take part in the pre-conference sessions and one-day financial services track. The Financial Service Advisory Board continues to be involved in helping to shape the topics and speakers list for future International Conferences as well as a number of the regional conferences. Keep an eye out for The IIA’s 2014 Regional Conference in New York, which will feature a heavy financial services lineup.

I also urge all of our financial services chief audit executives and audit directors to register for Industry Labs: A Mosaic of Ideas in Philadelphia, Sept. 23-24, 2013. After the morning’s general session speaker, each industry will break into groups with peers to discuss participant-driven issues. The financial services industry will be well represented by some outstanding session leaders. Among the many topics to be discussed:

  • Lessons learned from the financial crisis and the Dodd–Frank Wall Street Reform and Consumer Protection Act.
  • Ethics and governance.
  • Emerging technologies.
  • Credit risk management.
  • Fraud prevention and risk management.

We are excited about the continued success of our members-only webinar series. Our very own board member Jennifer Burke from Crowe Horwath will present “What Every Internal Auditor Should Know About ERM” in August. Check the Financial Services Group’s website for more details and the schedule of remaining webinars for 2013. Webinars also are available on demand, but these are not eligible for continuing professional education credits. If you have suggestions for future webinar topics or speakers please let us know.

Best wishes for a relaxing and safe summer.

Warmest regards,

Scott White, CIA, CFSA
Financial Services Advisory Board Chairman

Chairman’s Message — April 10, 2013

FSA Times Home Page

Scott WhiteFSA Chairman

Scott White
FSA Chairman

It’s hard to believe the first quarter of 2013 is already over. Despite the gridlock in Washington, D.C., it’s

been a very positive quarter for the financial markets. Let’s hope the economy continues in the right direction and that politicians can work together for the good of the economy and the country.

Some of the most critical issues in the banking industry right now concern the actions of the Consumer Financial Protection Bureau (CFPB). If you missed March’s webinar hosted by Michael Bruneis of Protiviti summarizing the CFPB’s activities, you can listen to a replay online. In addition to the presentation, you can access the materials from the webinar, which are a great reference tool. Be sure to look at the webinar lineup for the remainder of the year, focusing on compliance issues affecting the industry.

If you are attending the International Conference in Orlando in July, there is a full lineup of financial services presentations. Sunday’s pre-conference sessions will include a presentation on Dodd-Frank and a panel discussion on emerging issues featuring some of the top chief audit executives in the industry. Pre-conference sessions were popular last year so make sure you register early. A full day of financial services sessions is offered on Tuesday.

One of the keynote speakers for the International Conference is award-winning New York Times writer Diana Henriques. Henriques was recently featured on 60 Minutes discussing the Bernie Madoff scandal and she also covered Enron. Her presentation, “Lessons Learned from the Bernie Madoff Scandal,” should be both interesting and entertaining. More information on this general session and other financial services sessions is available on the International Conference website.

Your Board continues to be committed to providing outstanding educational opportunities for our members. If you have any questions, concerns, or suggestions, please contact Membership Development.

Warmest regards,

Scott White, CIA, CFSA
Financial Services Advisory Board Chairman

Chairman’s Message — January 9, 2013

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Scott White
FSA Board Chairman

 FSA Times Home Page

On behalf the Financial Services Advisory Board (FSAB), I would like to wish everyone a happy, healthy, and prosperous new year! While our hopes for 2013 are high, the business environment will be challenging to say the least — increasing regulations, Affordable Health Care Act implementation, and the looming possibility of another recession are just a few of the issues. As internal auditors, we need to stay on top of these risks and be prepared to align our audit program to face these challenges.

 

To help FSA members address these risks and prepare you for what lies ahead, the Board and the webinar subcommittee have been busy planning the 2013 webinars lineup. By now you should have received an email from The IIA announcing our first webinar on January 10 — “Current Trends in Financial Institution Fraud.” Mike Thomas from Crowe Horwath will discuss current trends in financial institution fraud and offer some suggestions regarding how to help fight occupational wrongdoing. 

 

The 2013 webinars lineup is available on the FSA Group’s members-only Web page. Topics include updates on the Consumer Financial Protection Bureau, IT governance, compliance, and enterprise risk management. These webinars are free to FSA members, so mark your calendars in advance for opportunities to earn continuing professional education (CPE) credits. We appreciate all the hard work Ed Weiss and the webinar subcommittee put into developing the program for 2013.

 

Previous webinars also are available on demand on the FSA Web page but do not qualify for CPE credits. If you have any suggestions for future webinar topics or are interested in presenting a future webinar, please contact Membership Development at membershipdevelopment@theiia.org

Warmest regards,

Scott White, CIA, CFSA
Financial Services Advisory Board Chairman

Chairman’s Message — October 19, 2012

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Scott White
FSAB Chairman

FSA Times Home Page

It’s hard to believe that we are already in the 4th quarter of 2012 and that the presidential and local elections are right around the corner. Regardless of the election results, financial institutions will continue to face an ever-increasing volume of regulations and scrutiny from regulatory examiners. The increased pressure from examiners in all sectors of financial services has everyone talking and wondering about what’s next. It’s almost impossible to define any trends in what the examiners are emphasizing, as the issues they are identifying appear to be random in some cases. One certainty is that internal audit’s effectiveness in the organization is being scrutinized more than ever.

In an attempt to capture some of the hot topics and issues around preparing for an examination, Lisa Adinolfi-Tejera and I have coauthored “Auditing the Auditors.” Adinolfi-Tejera, a member of the Financial Services Advisory Board (FSAB), has conducted roundtables with large financial institutions in the New York City area and has heard firsthand some of the trials and tribulations of those being examined. We hope her knowledge, combined with my own experience with small financial institutions, will be helpful to those internal auditors who are preparing for their next examination.

Our next live webinar on regulatory hot topics for financial services auditors will take place Dec. 6, 2012, at 3:00 p.m. (EST). If you have missed any of our webinars, which range in topics from Dodd-Frank to anti-money laundering to risks and exposures in social media, they are available on demand on the FSA Group’s Members Only Web page. Our thanks to webinar Committee Chairman Ed Weiss, the Webinar Subcommittee, and Protivti for making this program so successful.

The Board is already busy working with the organizers of the 2013 International Conference in Orlando and two regional conferences to identify financial services topics and speakers for those events. If you are interested in presenting at these conferences or would like to recommend someone, please contact a member of the Board. As always, if you have any questions or suggestions regarding the activities of the FSAB, please contact Membership Development at membershipdevelopment@theiia.org.

Warmest regards,

Scott White, CIA, CFSA
Financial Services Advisory Board Chairman

Chairman’s Message — July 11, 2012

FSA Times Home Page

You may have recently received a survey from us regarding your experience as a member of the Financial Services Auditor Group. I hope you took some time to complete the survey and provide us with your feedback. The Financial Services Auditors Board (FSAB) and IIA staff take your comments and opinions very seriously and use the information to make improvements to FSA Times and to plan future programs.

Your Board recently met at IIA headquarters in Altamonte Springs, Fla., to discuss our ongoing strategy to deliver outstanding services to our members. We continue to strive to bring you the most relevant information, training opportunities, and member benefits as we move forward. We are excited at the success of our members-only webinars and our involvement in shaping the programs at several regional conferences and the 2012 International Conference in Boston. We continue to explore new programs and ways of delivering information on the hottest topics in financial services.

We often hear from our members that they are not aware of all of the benefits of being an FSA Group member. I urge you to review your benefits on The IIA’s updated website and the FSA member pages. Accessing the FSA Web page is easy. From The IIA’s home page, hover your mouse over the “Membership” tab and click on the “Financial Services Auditor Group” link. This will take you to our Web page where your benefits are outlined in detail. You must be signed in to The IIA’s website to access this page. If you have any comments on the site or ideas for improving it we would love to hear them.

The Board was pleased to organize the financial services concurrent sessions for the 2012 International Conference and will be doing the same for next year’s conference in Orlando. We had a very successful pre-conference program in Boston with more than 200 participants joining us for sessions on bank compliance and a panel discussion on hot topics in financial services auditing.

If you missed June’s Webinar on enterprise risk management, playback is available via the FSA member pages. The August webinar will focus on social networking in the financial services industry. Check The IIA website for more details on this session or to register.

Have a relaxing and safe summer. As always, if you have any questions or suggestions regarding the activities of the FSAB, please contact Membership Development at membershipdevelopment@theiia.org.

Warm regards,
Scott White, CIA, CFSA
Financial Services Advisory Board Chairman

Chairman’s Message – April 11, 2012

Scott White, FSAB Chairman

FSA Times Home Page

The financial services industry is being especially challenged by the increasing volume of regulations that seem like a constantly moving target. It’s critical that the role of internal audit and compliance in our organizations be clearly defined and well coordinated to reduce the possibility of non-compliance and the resulting financial penalties, increased expenses, and adverse publicity. Be sure to read this month’s Internal Auditor for articles on regulatory compliance and corporate governance for additional insight, including the cover story, “A Barrage of Regulations.”

Our focus on compliance and emerging issues will continue at the 2012 International Conference in Boston, July 9-11, 2012. We have two great financial services pre-conference sessions planned. The first, with Protiviti’s Carol Beaumier and M&M Consulting LLC’s Jay Friedland, will update us on emerging issues and examine recent regulations. The second pre-conference session will include a panel of chief audit executives from a cross-section of the financial services industry to discuss the latest issues that internal auditors are facing. Also, the Financial Services Auditors Board (FSAB) has put together a financial services track covering topics such as the Dodd-Frank Wall Street Reform and Consumer Protection Act, model validation, and auditing derivatives. I encourage you to look over the conference program and register early.

Based on members’ recommendations, every issue of FSA Times now includes Compliance Corner to keep members up to date on the latest compliance hot topics. We also have instituted a series of members-only webinars focused on compliance and other industry topics. If you happened to miss our April 4 webinar, “Audit Your Alternative Assets Management Business in the New Regulatory Era,” or any of our other webinars, they can be replayed at your convenience on the FSA Web page (member login required). However, to receive continuing education credit, you must be present on the live webinar.

The FSAB values the input of our members and strives to bring you the most current information. To help ensure we meet your needs, a membership survey will be sent via email to FSA members in May. Your responses will be helpful as we plan future programs and content for FSA Times, so please take a few minutes to tell us what you think. As always, if you have any questions or suggestions regarding the activities of FSAB, please contact Membership Development at membershipdevelopment@theiia.org.

Warm regards,

Scott White, CIA, CFSA

Financial Services Advisory Board Chairman