Effective Internal Audit Function: Beyond the Basics


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This webinar builds on the themes of previous MBA internal audit webinars by discussing how effective internal audit programs evolve over time. What does it mean to have an effective internal audit function? What is the best structure for your internal audit function? Where does the function report in the organization? Are there professional designations for internal audit? Who sets the internal audit credentials and standards? How should the risk assessment process work? Does it matter who completes the risk assessment? How does it impact the audit plan? These are just some of the common questions facing independent mortgage bankers. The webinar presenters possess industry recognized internal audit credentials and include a lender faced with these same questions who will address how their decisions over a two-year time span impacted their most recent MORA review.


Thursday, September 27th, 2018


2:00-3:30 PM EST


The following will be discussed during this webinar:
    1.What is the best structure for your internal audit function and how do the 3 lines of defense relate to that structure and the idea of maintaining independence?

    2. When do you need an Audit committee and what should it focus on?

    3. What are the credentials and standards for internal auditors? What are the pros and cons of building an internal audit function with experienced mortgage operations personnel with limited or no internal audit experience?

    4. What audit results warrant internal audit addressing those reports to the Board and/or Audit Committee?

    5. Risk Assessments: How to assess the mortgage industry’s inherent risks along with your internal control structure to minimize your residual risk. Why are the risk ratings of the Risk Assessment important?

    6. Should my audit findings be risk rated; and how are those ratings determined?

    7. Should the board or audit committee track audit findings? What about their role in remediation?

    8. What are the best practices to enhance internal audit’s credibility and build constructive relationships with the regulators?

    9. What are some of the signs of a mature internal audit function? How does that evolve? A lender that struggled with the challenges of implementing an internal audit function 2 years ago will share what they learned from this process and how it impacted their latest MORA review.

    10. What are the challenges of implementing an internal audit function, from the perspective of a lender?


Moderator: Chris Ortigara, CMB®, CrossCheck Compliance LLC

  • Heidi Wier, Managing Director, CFSA, CrossCheck Compliance LLC
  • Jim Shankle, Managing Director, CFSA, CrossCheck Compliance LLC
  • Tim Meehan, VP Compliance, Royal United Mortgage

Who Should Attend?

  • Executive management including CEOs
  • Board Directors - particularly any on the audit committee or with board oversight over audit
  • Internal Audit management
  • General Counsel
  • Compliance management
  • Department heads - including mortgage operations, servicing, QC, capital markets, accounting/finance, vendor management, IT, etc.


Call begins on September 27, 2018 from 2:00 - 3:30 pm EST.

Login instructions will be sent to attendees in advance of the webinar.

All attendees will receive a copy of the audio recording and PowerPoint deck at the conclusion of the webinar.