Audit Staff Oversight
Some institutions already have an internal auditor, internal audit staff or desire to have someone in that capacity at the bank on a daily basis. But at the same time, there is no one available (or willing) in the management structure to train, oversee and/or guide that person or function. We have several clients that use Kendrick Services to oversee and manage either an in-house internal auditor or internal audit staff. In this capacity, we might have an associate spend from one to several days a month providing this service. This arrangement brings instant experience to your institution and exposes your internal resource(s) to best practices within the industry, often a missing link when one only has exposure to just one environment. This service also relieves the responsibility of someone within the bank from overseeing the internal audit function, bringing increased independence, objectivity and experience to the process. Audit Committees especially appreciate having access to experienced and certified professionals through this type arrangement.
Audit Committee Coordinator
We also have clients that use Kendrick Services to help them coordinate audit activities for their institution. Often we serve as a tool for Audit Committees to monitor management actions related to recommendations made in internal audits, external audits and regulatory exams. We might meet quarterly or periodically with the Audit Committee to help with meeting agendas and to formalize a follow-up document for all audit and exam issues.
IT Liaison
Often bank executives responsible for the IT function have many other hats that they wear. We have clients that use our IT experience and expertise to assist these executive managers with their IT responsibilities. In this regard, Kendrick Services will assist with oversight of IT resources, training and monitoring of IT environmental controls and regulatory hot topics. These clients have opted to outsource this service to us as an alternative to hiring a mid-level or senior level IT manager.
Compliance Liaison
Finally, we have clients that use our Regulatory Compliance expertise to assist them in their own Compliance management roles. In this regard, Kendrick Services will assist in developing a Compliance structure for the bank, to include oversight, training and monitoring of consumer regulations. These clients have opted to outsource this service to us as an alternative to hiring a full time Compliance Officer.
