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