Pub. 4 2015 Issue 2

17 S U MM E R | 2015 person just to manage a portfolio of projects. We recommend that you use projects as an opportunity to provide individuals with an opportunity to lead and learn about other areas of the organization. Help your team pick low-hanging fruit at the beginning. We recommend you select smaller, less complicated initia- tives initially. This will allow for your organization to develop confidence in this new culture. Document and proclaim successful projects early and often. To entrench and solidify project management into your institution, you as the leader must acknowledge and reward strong project leaders and team members. Project Management in Action Common goals of project management include offering a product, changing a process or solving a problem. In the next few paragraphs I’m going to apply the project manage- ment process) to something the bank might actually work on: improving loan documentation. Project: Loan Documentation Protocol Improvement. Business Need/Case: The LDPI project has been created to improve the knowledge of our loan administration person- nel in the area of loan documentation. Business Objectives: The business objectives for this project are in direct support of our corporate strategic plan to reduce problem assets. • Create standard loan documentation requirements for each loan type in the next 60 days. • Continue training of loan administration personnel on standard loan documentation. • Reduce the number of loan documentation errors. • Integrate a loan documentation check into our audit process. • Success Criteria: To achieve success, the following objec- tives must be met within the designated time: • Develop standard, “fool proof” methodology for determin- ing which documents to use to secure different types of loans within the next 20 days. • Create checklists for each loan type for use by loan admin- istration staffers within 45 days. • Develop an evaluation/testing process for loan administra- tion personnel. • Introduce, via half-day training, the standards and check- lists to loan administration within the next 60 days. • Test loan administration personnel on commercial loan documentation. • Add loan documentation to annual internal audit schedule. So what elements of a project management culture are already in place at your bank? Which ones could you imple- ment easily? When you approach work in project format, you can gain many benefits and efficiencies, positives you can pass along to your members. For help on how you can develop your own project manage- ment culture you can reach Ancin Cooley, Principal of Synergy Bank Consulting Inc. at acooley@synbc.com Michelle Fowler, CPA, CIA, CISA, CRMA mfowler@fowlerandcompany.com Tel: 804-350-8654 11757 Dewberry Lane Chester, VA 23831 “…always highly competent, consistent and very approachable during the audit process.” Do you feel like you are paying for redundant services over & over again with Loan Review, Compliance, Internal Audit & External Audit? Do you feel like your internal controls impede progress with- out adding value? Is it difficult for you to find an accessible expert to turn to with questions? At Fowler & Company, we are internal control experts. We work exclusively with Community Banks with a specialized focus on Risk, Internal Controls, Compliance and Internal Audit. We work with Community Banks who struggle with aligning Internal Controls with their business objectives. Is this you? Call today to learn more. FOWLER & COMPANY Internal Audit and Control Consulting Services