This webinar uses a case study of the Red Fern Trust Company to demonstrate how data analytics in business can become a valuable part of the audit process. More than just detective data or ad hoc review of existing data elements, this webinar will take the attendee past the common and the basic to new levels of effectiveness and contribution. Utilizing common internal audit processes with slight modification of analysis and ensuring compliance with IIA standards, this webinar will show all auditors, risk managers, and compliance or quality assurance staff how to provide more value for each assignment.
This webinar is a must for any auditor that wants to set themselves apart as an expert analyst and achieve trusted advisor status. The review of data, inherent in many audits today, is not enough to be successful. Internal Audit requires more from itself and more is expected of audit by its stakeholders. The ability to link data together and to provide deep, thoughtful, and impactful insights and recommendations will ensure your success and your relevance. This is one webinar that can easily help you achieve trusted advisor status.
The case study takes the auditor through Red Fern Trust Company. Red Fern is successful with steady positive returns and generally good controls. The auditor is assigned the task of linking Red Fern performance to the Parent Company’s strategic vision and help determine if there are opportunities for enhanced revenue. By using data driven testing and enhanced analysis of that data the auditor can see that controls are/are not working as designed and that Red Fern is financially viable. Then, provided new techniques of linking data together the auditor discovers the value of data analysis and how a complete business model can be changed juts through a simple audit engagement.
Years of Experience: 30+ years
Areas of Expertise: Audit and Risk Review
Dan has over 30 years in financial service industry. Beginning his career in 1982 and spending over 25 years within Citibank, he was exposed to national and international banking, primarily focusing in consumer, small business and retirement services. During his last 12 years at Citibank, he was an active leader in the Audit and Risk Review department. His audit and risk career at Citibank culminated when he resided in Miami and Mexico City and was responsible for auditing all $400B consumer banking activities located in Latin America, including the largest bank in Mexico, Banamex.
After leaving Citibank, Dan has held senior audit positions in First Union (Director of Consumer Bank Auditing), USAA, (Chief Auditor), Sterling Financial Services (Chief Auditor) and GE Capital (Director of Professional Practices, Director of Americas Audit and Interim Chief Auditor). For the past three years he has been the Director of Internal Audit at Washington Trust Bank
Dan is active in the IIA and the RMA and is a published contributor to industry practice. Presently Dan holds three certifications and is a strong advocate of progressive risk based audit processes. He is the owner of THECRABBYAUDITOR.com, a site dedicated to auditor personal development and recently published “Dare to be Different: An Auditor’s Personal Guide to Excellence” to wide acceptance throughout the audit community.View all trainings by this speaker