New York Chapter of the Institute of Internal Auditors NEW YORK REPORTS. PLATINUM AWARD CHAPTER December Knowledge Through Sharing and Learning

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1 New York Chapter of the Institute of Internal Auditors NEW YORK REPORTS PLATINUM AWARD CHAPTER December 2012 Knowledge Through Sharing and Learning Season s Greetings! I hope the holiday season has been an enjoyable one for you and your loved ones. To start 2013 off, the NY IIA has a couple of interesting events coming up. In addition to our monthly workshop, we have two special events coming up aimed at specific industry groups within our membership. Registration is now open for our next Business & Industry Event to be held on January 17 at the Times Square offices of Ernst & Young. Auditing the Compliance Function & Financial Services Industry Hot Topics will be a 1.5 hour panel discussion followed by a question and answer session. See page 11 in this newsletter for more information. Registration is also open for our January workshop, where Dr. Glenn Sumners, DBA, CIA, CFE from Louisiana State University will be with us to conduct a full day session on data analytics and it benefits and limitations, and will cover various data analytics tools. Dr. Sumners is the Director of the LSU Center of Internal Auditing, and was recently named by the IIA as an inaugural inductee of the American Hall of Distinguished Audit Practitioners. And not to be overlooked, our second annual Government Audit Conference will be held on Monday, February 1 at Hotel Penn. Last year the inaugural event had over 200 Government Auditing professionals in attendance. This year, the keynote speaker is Richard Chambers, President of the IIA. Below is the lineup: Guarding the Public Trust: Are you up to the Challenge? Richard Chambers, President, IIA Government Auditing from A government Contractor's Perspective Larry Harrington, Vice President, Internal Audit, Raytheon Implementing Technology Initiatives in Government 1

2 Benjamin Lonner, Director, MTA Audit Services Best Practices in Establishing an Effective Approach to Fraud and Anti- Corruption Compliance Mike Rost, Vice President, Business Segment Marketing, CAR Thompson Reuters Accelus Government Auditing and Fraud Anthony Luizzo, PdD., CFE, CST, PI (Ret. NYPD) Hope to see you and one of our upcoming events! Best Regards, Brian Mannix, President IIA New York Chapter 2

3 In This Issue President s Message 1 Page NY Chapter Information 2012/2013 Chapter Officers 2012/2013 Committee Chairs Upcoming Events and Workshops Schedule January Workshop February Workshop Auditing the Compliance Function & Financial Services Industry Regulatory Hot Topics Certification Information CIA / CGAP Review Course Flyer ipace Online Course Member News Member Benefits Social Media Update Share your Knowledge 19 Membership Update 20 Employment Opportunities 20 Academic Relations Committee

4 IIA NY Chapter Officers President BRIAN MANNIX New York Life Insurance Company (212) Executive Vice President SCOTT KENNEY Deloitte & Touche (212) Vice President-Professional Development RAQUEL OQUENDO Columbia University Medical Center (212) Vice President - Professional Services CARMEN CACEDA Carmen_Caceda@msn.com Vice President & Secretary ELEONORA PECHENIK epechenik.iia@gmail.com Vice President Treasurer JUAN PEREZ New York Life Insurance Company juan_h_perez@newyorklife.com Immediate Past President ( Chapter Year) JOHN FITZPATRICK Accume Partners (516) jfitzpatrick@accumepartners.com 4

5 IIA NY Chapter Committees CAP Reporting Officer: Brian Mannix Chair: Linda Tan Audit: Officer: Brian Mannix Chair: Ines Janssen Nominating: Officer: Brian Mannix Chair: John Fitzpatrick, Diane Napolitano Volunteer: Officer: Brian Mannix Chair: Debra Soumare Long Range Planning: Officer: Scott Kenney Chairs: Paul Flora, Nick DiMola General Auditors Roundtable: Officer: Scott Kenney Chair: Paulette Mullings Bradnock Business and Industry: Officer: Scott Kenney Chairs: Stacey Guardino, Uday Gulvadi, Patrick Glenn, Tracey Thomas/Alex Cacanando/Jessica Rodgers Special Events: Officer: Scott Kenney Chairs: Stacey Guardino, Uday Gulvadi, Patrick Glenn, Tracey Thomas Government Audit Committee: Ed Icasiano, Ellen Issacs History: Officer: Scott Kenney Chairs: TBD Academic Relations: Officer: Scott Kenney Chairs:Rachel Bond,, Olga Davis, Jennifer Morris, Cheryl Lovell, Altagracia Rodriguez Annual Audit Seminar: Officer: Raquel M. Oquendo Chairs: Uday Gulvadi, Carlos Garcia, Andrew Goldberg, Rachel Bond, Erin Morrow Workshops: Officer: Raquel M. Oquendo Chairs: Rachel Bond, Adwait Tare, Uday Gulvadi, Jim McCabe, Anthony Canton, Cheryl Lowell Luncheon: Officer: Raquel M. Oquendo Newsletter: Officer: Carmen Caceda Chair: Dainora Tommasino Social Media /Communications: Officer: Carmen Caceda Chairs: Aleksandra Terzano Public Relations, Advertising and Employment: Officer: Carmen Caceda Chair: Andrew Goldberg Subscription: Officer: Carmen Caceda Chair: Bill Morello CIA Exam: Officer: Eleonora Pechenik Chair: Olga Davis Membership: Officer: Eleonora Pechenik Chairs: TBD Outreach: Officer: Eleonora Pechenik Chairs: TBD Awards Dinner: Officer: Eleonora Pechenik Chairs: Mariaelena Deloux, Kathy Rennert Diversity: Officer: Eleonora Pechenik Chairs: Junny Rivera Social: Officer: Eleonora Pechenik Chairs: Coryse Farris Financial Reporting: Officer: Financial Controls: Officer: Juan Perez Chairs: Melissa Teti, Anthony Porco i Awards and Gifts: Officer: Juan Perez Chair: Carlos Garcia 5

6 IIA NY Chapter Workshops / Luncheons September 14, 2012 Location: Baruch College AM: Protiviti, Third Party Risk Management Luncheon: IIA Global Headquarters Kevin Mayeux, EVP, CO for NA Ops and General Counsel for IIA Global Headquarters PM: Eisner Amper LLP, Risk Assessments/Privacy, data security and breach response compliance /Business Continuity and disaster recovery October 19, 2012 Location: Hard Rock Café AM session: Crowe Understanding Fraud and Current Statistics, Behavioral Elements of Fraud, Expanding the fraud triangle, Developing a best in class fraud risk assessment, Business Practices and Ethics Luncheon: Deloitte An Overview of fraud, the FCPA and UK Bribery Act PM: Deloitte Role of Internal Auditors in Mitigating Potential Corruption Risk November 16, 2012 Location: Baruch College AM: IIA Research Foundation, Preparing Internal Auditors for the Future Luncheon: Grant Thornton, State of Internal Audit PM: Telavance, Internal audit of AML & OFAC December 7, 2012 Location: United Federation of Teachers (UFT) AM: AIG/Protiviti, Emerging IT Risk/Trends Luncheon: KPMG, Implementing Effective Privacy Monitoring PM: Honkamp Krueger Construction Auditing Risks for 2013 and Beyond January 11, 2013 Location: Baruch College Full Day Session: LSU, Analytics February 15, 2013 Location: United Federation of Teachers (UFT) AM: Protiviti, Regulatory Hot Topics Luncheon: Grant Thornton, Vendor Risk Management PM: Grant Thornton, Social Media March 22, 2013 Location: Baruch College AM: Goldman Sachs, Continuous Monitoring Luncheon: Win the room-public speaking to One or a Million PM: AIG, Enterprise Risk Management April 12, 2013 Location: Hard Rock Café AM: Experis, the Risk Surrounding Cloud Computing Luncheon: E&Y, TBD PM: Sabre Holdings, Moving IA along the continuum May 17, 2013 Location: United Federation of Teachers (UFT) 40 th Annual Audit Seminar 6

7 IIA NY Chapter January 2012 Workshop Date: Friday, January 11, 2013 Times: 8:30 AM 4:30 PM Location: Two Baruch College 55 Lexington Avenue Room New York, NY CPE: 7 credits will be awarded for the full day workshop 3 credits will be awarded for half-day workshop 1 credit for luncheon workshop ~~Registration is open~~ Members: $175 Non-Members: $195 Luncheon Only (Members): $60 Luncheon Only (Non-Members): $70 ½ day with Lunch (Member): $90 ½ with Lunch (Non-Member) $100 ½ day without Lunch (Member): $80 ½ day without Luncheon Non-Member: $90 Glenn Sumners, DBA, CIA, CFE will facilitate a full day workshop on Analytics. He is on the faculty of Louisiana State University (LSU) and Director of the LSU Center for Internal Auditing. The workshop on analytics will include a discussion of the significant benefits of using analytics as an audit tool. Coverage will include the various types of analytics and the advantages and limitations. AM 8:30 am - 11:30am (3CPE) Steps in analytics Examples of analytics/used in business 7

8 Luncheon Workshop: 12:30pm 1:30pm (1CPE) Importance of the monitoring function and management PM 1:30pm 4:30PM (3CPE) Limitations in analytics (i.e., why people do not use analytics) Fraud and analytics Examples of use of analytics More Information: To Register: 8

9 IIA NY Chapter February 2013 Workshop Date: Friday, February 15, 2013 Times: 8:30 AM 4:30 PM Location: United Federation of Teachers 52 Broadway New York, NY CPE: 7 credits will be awarded for the full day workshop 3 credits will be awarded for half-day workshop 1 credit for luncheon workshop ~~Registration is open~~ Members: $175 Non-Members: $195 Luncheon Only (Members): $60 Luncheon Only (Non-Members): $70 ½ day with Lunch (Member): $90 ½ with Lunch (Non-Member) $100 ½ day without Lunch (Member): $80 ½ day without Luncheon Non-Member: $90 AM: 8:30 am - 11:30am (3CPE) Presentation Topic: The implications for IA as a result of part 165 of Dodd Frank as well as provide an overview of the OCC s Get to Strong initiative. Timothy W. Long, Managing Director NY Office - Tim Long is a Managing Director in Protiviti s U.S. Financial Services Industry Practice. He brings extensive knowledge of financial services regulation with hands on experience in all bank supervision and policy related matters. Tim retired from the OCC after a 31 year career in which he oversaw virtually all of the agency s bank supervision and policy units. He has significant experience working with large complex banks, regional financial institutions and community bank organizations. In his most recent role with the OCC, Tim served as Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner. He was a key advisor to 9

10 the Comptroller, a member of the OCC s Executive Committee, and was Chair of the Committee on Bank Supervision for the agency. Luncheon Workshop: 12:30pm 1:30pm (1CPE) Presentation Topic: Vendor Risk Management PM: 1:30pm 4:30PM (3CPE) Presentation Topic: Social Media Grant Thornton will be presenting the luncheon & PM session For more information: To register: http: 10

11 The Business and Industry Committee Auditing the Compliance Function & Financial Services Industry Regulatory Hot Topics The Business and Industry Committee of the New York Chapter of the Institute of Internal Auditors invites you to join us for an upcoming panel discussion. Date: Thursday, January 17, 2013 Time: 8:30 10:30 AM Welcome / registration: 8:30-9:00 AM Panel discussion: 9:00 10:00 AM Q&A: 10:00-10:30 AM Registration Fee: IIA Member $15; Non IIA Member $25 Panel Discussion & Networking Event Auditing the Compliance Function & Financial Services Industry Regulatory Hot Topics The post-financial crisis regulatory environment has greatly increased the legal, regulatory, and reputational risk for banking and financial institutions. The laws, regulations, and regulator interpretations are increasingly and specifically requiring that the Compliance Function of these institutions be established to effectively assess, monitor, and mitigate these risks. Regulators expect the Compliance Function to have active involvement from the board and senior management, for the function to take an independent and enterprise-wide approach, and to operate under a well-documented and thought out program that quickly identifies and tracks the remediation of compliance weaknesses. Our panel discussion will feature senior Internal Audit and Compliance professionals from banking and consulting firms 11

12 who have been working to enhance the ability of their or their firms and clients Compliance Functions in order to meet these heightened demands. Panelists will provide their perspectives on the role of internal audit on the hot topics currently affecting the regulatory compliance space. This interactive discussion will include the following topics and key drivers: Regulatory Expectations the pressure on and from regulators continues to drive a regulatory compliancefocused agenda, particularly with regards to consumer protection. This discussion will help internal audit professionals better understand how the focuses of the various regulators might impact their risk assessment and audit process. Compliance Program Management Heightened expectations from regulators have led to an increased need for a formal Compliance Function that is independent, has well-documented policies and procedures, and is actively overseen by the board and senior management. This discussion will overview these and other key components needed for an effective Compliance Function. Service Provider Oversight Given the heightened regulatory scrutiny of third-party service providers, the Compliance Function needs a comprehensive and documented program to manage the compliance risk of its service providers effectively. This discussion will address special considerations when it comes to service provider compliance oversight. Role of Internal Audit Internal Audit should perform an independent review of the compliance program to ensure the program is designed and delivered effectively and is able to identify potential regulatory issues. In addition, Internal Audit should coordinate its efforts with the Compliance Function as it relates to risk assessments and planned prioritization. This discussion will help Internal Audit professionals better understand how to conduct effective reviews of the Compliance Function and how to maximize the coverage of the business s internal controls. The panel discussion will be followed by a question and answer session. Panel Moderator: Stacey Guardino, Executive Director, Ernst & Young LLP, 12

13 Financial Services Advisory Panelists include: TBD We look forward to seeing you at the event. Location: The event will be hosted by Ernst & Young: Ernst & Young 5 Times Square New York, NY Floor & Room: 23 rd Floor Conference Room A Check-In: Please check in at the Lobby of 5 Times Square Registration: To register for this event, please click Space is limited and will be reserved on a first come, first served basis so please register early. In addition, 1.5 CPE will be offered. For questions regarding the event logistics or event topics, please contact Richard Marinello at Richard.Marinello@ey.com NYIIA P.O. Box 2376 Grand Central Station 450 Lexington Avenue New York, NY

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18 Members Benefits As a valued member of the Institute of Internal Auditors and the New York Chapter, I d like to remind you of just some of the benefits that are available to you as members. Membership entitles you to: Member Only Discounts through the IIA s Affinity Program-The IIA has partnered with a select host of companies to provide our members with special discounts on products and services. These companies include: Dell, Geico, Hertz and Omni Hotels, among others. Member Only Discounts on Training through the Institute and the New York Chapter- As a member of the IIA, you are entitled to valuable guidance, training, and services at discounted prices including : o Workshops o Conferences o Seminars o Webinars, webcasts and e- learning opportunities o Vision University Member Only Rates on Items in the IIA Bookstore and Professional Certification Exam Fees Instant Access to Valuable Reference Tools and Resources for the Profession- These include: o Professional Practice Framework o Practice Advisories o Subscription to Internal Auditor Magazine Extensions Extensions on Membership Dues: We understand that it may be difficult for your company to process your membership renewal at this time. If that is the case, we will grant all terminating members a complimentary extension until February 1, You do not have to do anything for this automatic membership extension to take effect. Extensions on Conference Early Bird Specials: We hope that you have seen the recent offering an early bird extension for the 2013 General Audit Management (GAM) Conference. For members of the Northeast Region, we are extending the discount code EXT0313 to December 31, Use Discount Code EXT0313 when registering online or by calling We hope that you take advantage and enjoy the many benefits the Institute of Internal Auditors and the New York Chapter Please visit the IIA at for the latest information on member benefits or at to become a new member and take advantage of significantly reduced membership rates. We look forward to seeing you and your colleagues at our upcoming events. 18

19 Social Media Update We invite our members of the IIA New York Chapter to share your knowledge and enhance networking opportunities to. Please join the NY IIA Chapter LinkedIn group. Follow us on the following sites: Other IIA sites to follow: Share Your Knowledge New York Chapter is full of experienced auditors; this is an opportunity for members to share and learn from each other. You can contribute in any of the three ways: Expertise Stories Books Wisdom, tip, insight or technique that you ve found improves your audit process or saves you time. How did you get to where you are today? What have you been reading? We ll choose two each month and list them. For other members interested in submitting information to be published in our newsletter, please send an to our VP of Professional Services and Newsletter Officer Carmen Caceda at by the 20 th of each month. 19

20 Membership Update Not receiving Chapter s and Workshop notifications? Please UPDATE YOUR IIA PROFILE! Log onto using IIA Member ID and Password Volunteer Corner If you are interested in volunteering for our chapter, please reach out to our Volunteer chair, Debra debra.stbernard@aeroflex.com Employment Opportunities If you are looking for a new opportunity, we currently have new job posting on our website. Individuals or organizations interested in posting job opportunities should submit a condensed job description to the Employment Officer, Carmen Carmen_Caceda@msn.com 20

21 Academic Relations Committee The chapter's Academic Relations Committee presents internal audit related subject matter to students at local college and university career fairs. If interested, your organization can take the opportunity to have any open positions communicated at these events. If interested, contact Scott skenney@deloitte.com Also, if anyone with Student Internship opportunities, please contact our Academic Relations Committee Officer Scott skenney@deloitte.com 21