Case Study

Credit union relies on risk and internal audit expertise

Our client’s need                                 

Our credit union client was established in the 1930’s and is a member owned not-for-profit financial institution with more than $2 billion in total assets. When financial executives sought a new provider for their risk and internal audit needs, they selected Baker Tilly primarily for three reasons:

  1. Specialized risk and internal audit expertise
  2. Deep knowledge of financial institutions
  3. Positive experience working with a member of our team years ago

Baker Tilly solution

Baker Tilly assessed the credit union’s immediate SOC 1/SSAE 16 requirements and considered their future risk and internal audit needs. We then strategically assembled the right service team at the onset, which would provide the same core group in future projects.

Because of this client-focused approach and reliable, high quality work, Baker Tilly has become a go-to resource for this client. Specific projects have related to:

  • SOC 1/SSAE 16
  • Internal audit
  • ATM/card services
  • IT general computer controls (GCC)
  • Loan servicing controls
  • Automated clearing house (ACH)
  • Interim oversight of internal audit function

Results achieved

The same core group of specialized professionals provides continuity and is able to offer deeper insight to our client. As a result, the credit union is working with consistent advisors and receiving more value from each engagement. Baker Tilly has helped help fill the gaps where the client did not have the expertise or availability within its own organization. Our team has also:

  • Aligned internal audit and risk management
  • Coordinated internal audit activities
  • Provided timely information to their leadership team and supervisory committee

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.