Chairman’s Message – October 26, 2011

FSA Times Home Page

Scott White, FSA Chairman

I hope everyone had a great summer. I’m not sure about you, but my summer seems to go by more quickly every year. As we head into fall, we have our eyes on yet another multi-billion dollar rogue trader fraud at Societe Generale. It will be interesting to read the details of that case as they become available. While no one likes to see any type of financial institution fraud, these incidents provide us with an incentive to do our jobs well and to maintain that healthy skepticism in our dealings with clients and constituents. It also tells me that internal auditing will continue to be a great career choice in the future as our importance to our organizations and clients continues to grow.

I hope you had a chance to participate in the free webinars offered in August, September, and earlier this week. If you missed any of them, as a Financial Services Auditor (FSA) Group member you can hear the free playback by going to the Financial Services Auditor’s Web page (member login required). Topics include:

  • CyberSecurity in Today’s Financial Services World (available online Oct. 28).
  • Regulatory Hot Topics for IT Auditing – How Technology Issues Affect Your IT Rating and Bank Regulators’ Views of Your Risk Management Practices.
  • Using Data Analytics to Enhance Fraud Detection in Financial Services Audits.

Our thanks again go to FSA Board Member Ed Weiss, Protiviti, and the webinars subcommittee for producing these outstanding sessions. I also would remind you that these webinars are applicable to all financial services sectors and are a great way to earn some very cost-effective continuing professional education hours.

Your FSA Board has been busy working with the Regional Conference Committee to bring interesting and informative financial services sessions to you. We offered financial services-specific sessions at the well-attended Milwaukee Regional Conference in September and have a one-day, four session track at the sold-out Pittsburgh Regional Conference in November.

Looking ahead, the Board is working with the International Conference Planning Committee in preparation for the Boston International Conference in July 2012. We will be planning a full slate of financial services-related sessions so stay tuned to The IIA’s website for more information.

Finally, I would like to welcome new member Richard Serafini, a partner in Deloitte’s Enterprise Risk Services practice, to the FSA Advisory Board. Dick has many years of financial services experience and we look forward to working with him. We also would like to welcome back former Board member David Bilko, chief audit officer at StellarOne.

As always, if you have any questions or suggestions regarding our activities, please contact any Board member.

Warm regards,

Scott White, CIA, CFSA

Financial Services Advisory Board Chairman

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