Like many things in life that cause discomfort and stress, a bank consent order creates an opportunity for growth.
With the right internal audit approach to a bank consent order remediation and validation process, your organization’s internal audit function can become sharper, more insightful, and more valuable to the organization.
A successful consent order validation will require internal audit to gather subject-matter knowledge, develop highly efficient communication practices, and deliver targeted recommendations. And stakeholders within the organization will need those recommendations framed in ways that quickly translate to tangible improvements.
All these internal audit improvements present challenges, but they also deliver enduring benefits for the organization – and those benefits can extend far beyond the life of the consent order process.