Streamline your audit processes through our software and leading internal audit experts.

Bank Internal Audit

The Challenges

  • Internal audit’s ability to build the right capabilities and deliver on expectations continues to be challenged.
  • Auditing enterprise risk management now requires internal audit to analyze management’s decision-making more critically and determine whether these judgments reconcile the company’s stated strategy and risk appetite. This is something internal audit functions are struggling to adjust to.
  • Most financial institutions’ internal audit departments are understaffed due to misalignment of allocation of resources, neither having the tools nor the skills to interpret standards and create internal audit programs.

Our Solution

As a counter strategy to the challenges bank internal audit departments are facing, 360factors provides a regulatory risk and compliance management software platform and advisory services that streamline audit processes, improve productivity, and increase coordination and integration with other organizational risk management activities. We offer two unique solutions:

Option 1

Managed Services In managed services, you pay a flat fee to license the software along with our services.

Option 2

You can secure and count on our top-tier internal auditing experts on a short and long term project basis to help you streamline your audit processes, improve productivity, and increase coordination and integration with other organizational risk management activities. Our experts understand that every financial institution’s needs are different and our services are tailored to meet your unique objectives.

Our Software

Our experts and advisers use Predict360, a risk-based audit software to streamline banking internal audit services as a competitive differentiator. Predict360 is an internal audit module with end-to-end functionality for managing the internal audit process provides efficient management throughout the life-cycle of each audit. You can automate your risk-based audit process in the following key areas:
  • Compliance Audit
  • Sarbanes-Oxley and FDICIA
  • BSA/AML Audit
  • Bank Internal Controls Audit
  • Bank IT Audit
  • Trust Audit
  • Deposit Audit
Predict360 enables your auditors and financial managers to focus on how you manage your risks, compliance, audit reports, audit recommendations and implementation of recommendations according to the company’s strategy and risk appetite, promoting transparency, accountability, increased ROI while avoiding redundancies and additional risks. It has a SaaS interface with built-in workflow functionality that is highly configurable and customizable to suit your operational risk management requirements and audit process based on Basel guidance.