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ComplianceFinanceTax & AccountingDecember 08, 2020

OneAZ Credit Union & TeamMate Analytics

OneAZ Credit Union opened its doors in 1951 to provide financial services to state employees in Arizona. Since that time, the credit union has expanded its membership to include anyone that lives or works in Arizona. OneAZ currently has approximately $2.4 billion in assets and 140,000 members across 23 branches.

OneAZ’s four-person internal audit team is responsible for audits throughout all operational and compliance areas and acts as a liaison for external audits and examinations. Internal Audit also fulfills an advisory role on special projects, including new systems, projects or product implementations.

“Our role as a trusted advisor is something that has evolved,” said Jason Garlutzo, Internal Audit Manager with OneAZ Credit Union. “It’s been positive to have senior management recognize the importance of being proactive and include risk management and internal audit in the early planning stages of any new initiative. Now, we can identify issues at the onset rather than going back after the fact to do clean up.”

When Garlutzo joined OneAZ, the credit union used a “clunky” legacy system managed by the internal IT department. As it became more difficult to maintain and modify the legacy system for internal audit’s workflow, they replaced it with the TeamMate AM, and more recently, with TeamMate+.

OneAZ also implemented TeamMate Analytics, a powerful, Excel-based audit analytics tool designed for ease of use by every auditor on the team regardless of their IT skill level. TeamMate Analytics also integrates seamlessly with TeamMate+ for a more streamlined workflow from test performance through results documentation. Microsoft Excel documents can be shared and saved between the two systems with just one click. According to Garlutzo, data analytics has become a necessary component of their audit process.

With the vast amounts of data our organization generates and has access to, traditional sampling methods are no longer enough to tell the complete story. The ability to look at our entire portfolio, rather than just pieces of it, is critical to uncovering risk. Sampling wasn’t enough to uncover some of the issues that we’ve been able to identify, correct, and resolve with TeamMate Analytics.
Jason Garlutzo, Internal Audit Manager at OneAZ Credit Union

For additional insight, Garlutzo also participated in TeamMate Audit Benchmark. This assessment enables OneAZ’s internal audit team to benchmark their audit methodology against their peers to gauge strengths and pinpoint focus areas for skill development.

Our results were eye-opening because I sometimes think our audit shop may not be where it should be or is as advanced as other audit shops. But we were actually ahead of the curve when it came to data analytics. That was encouraging, especially as we continue to strive to stay competitive in such a challenging environment. The assessment also identified areas where we could improve, and we're incorporating that feedback into action items. It’s a nice tool to have to compare yourself to your peers and to let you know how your internal audit team is doing.
Jason Garlutzo, Internal Audit Manager at OneAZ Credit Union

Garlutzo says TeamMate Analytics has helped him more than double his use of data analytics in the audits he performs. The internal audit team is also working toward getting an API set up to draw data out of additional systems, which he believes would “open even more doors.” Overall, Garlutzo intends to expand his use of data analytics, especially as internal audit continues its shift from annual planning to ongoing risk assessment.

For auditors who are challenged to improve audit productivity while delivering strategic insights, TeamMate provides expert solutions, delivered with premium professional services, to auditors around the globe and in every industry.
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