Bank Directors Examinations

CPA services provided by Contryman Associates, P.C., Investment Adviser services are offered through Contryman Wealth Advisors

Description:
Following the guidelines set by the Nebraska Department of Banking, an examination of the financial operation of a bank. Review of Electronic Data Processing (EDP) practices. For banks that borrow from the Federal Home Loan Bank, Qualifying Collateral Determination (QCD).

Benefits:
Our goal is to save you and your employees time so that they can provide greater service to your customers and spend time on income-producing activities. Because we provide directors examinations for other banks, we can use our experience to possibly make better recommendations and we may look at your operations differently than someone who works in your bank on a daily basis. Our unscheduled inspections may be a deterrent to employee theft or lax record keeping activities.

An EDP review will give bank management assurance that computer operations are safeguarded. Additionally, we will help you meet Federal Home Loan Bank requirements by testing to see that reviewed loans are appropriately documented and meet bank guidelines.

In addition to compliance issues, our reports may be used as a guideline for making improvements to your bank’s operations.

Process:

  • Contryman Associates professionals will meet with bank management to determine your needs
  • We interview bank personnel to gain a broad overview of the bank’s operations
  • We make an unscheduled examination, checking trial balances, verifying selected customer accounts, taking a cash count, verifying travelers’ checks, and other required procedures as necessary
  • We can review Electronic Data Processing practices
  • We will test selected loans for Qualifying Collateral Determination
  • Our professionals create a report summarizing our findings and our recommendations
  • We review the report with bank management
  • Submit the report to the Nebraska Department of Banking