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Internal Audit Outsourcing

Put AffirmX’s outsourced, internal auditing services to work for your Credit Union.

• AffirmX leverages its patented Risk Intel Center online platform, which enables them to work like a remote employee. Simply upload documents to their secure environment for off-site review. (Note: For clients where AffirmX has VPN connectivity, even uploading the documents is unnecessary.)
• AffirmX performs an independent and on-going third-party review of adherence to your financial institution’s internal controls procedures in order to protect against fraud and ensure safe and sound internal operations.
• AffirmX works with you to ensure compliance with your applicable operational policies and procedures.
• AffirmX provides detailed reports on findings along with specific recommendations for addressing any noted deficiencies. AffirmX can also provide a year-end report, which is an invaluable tool at examination time

AffirmX draws upon the strengths of the architecture of its Risk Intel Center platform to deliver its services remotely and efficiently. That not only keeps costs down, it keeps them out of your hair. Their internal audit reviews vary according to your needs, but are comprehensive, covering such areas as:

• Internal Control Reviews - Policy and procedures
• Finance/Accounting - Reconciliations
• New Products/Services:
  • New loans of all types, including real estate and business loans
  • Decline loans (all types)
  • New accounts (all types)
  • New members/customers
  • Credit card dispute and charge back processes
• Core System Generated Reports/Special Report Monitoring:
  • File maintenance report
  • Paid ahead loans
  • Accrued interest greater than schedule payment reports
  • No payments in the last 90 days reports
  • Interest rates less than 5% or greater than 18% reports
  • Supervisory override reports
  • First payment dates more than 45 days from original loan date
  • Accounts with post office box addresses
  • Non-amortizing loans
  • Cash transactions over $10,000
  • Cash payment loans reports
  • Negative share/account and draft/checking
  • Shares/accounts greater than $100,000Non-sufficient funds year-to-date reports
  • Dormant share accounts
  • Insider reports

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Contact Amy Kleinschmit today for a demo, pricing and questions on any compliance solutions - akleinschmit@dakcu.org or 701-250-3964.

Dakota Credit Union Associations’ services and products are provided with the understanding that they do not
​constitute nor should be relied upon as legal advice. For specific legal advice, please consult your credit union’s attorney.