Internal Audit & Risk Aversion NCURA Lead Me Capstone 2015 by Elaine Moya Loma Linda University

The 5 Practices of Exemplary Leadership #1 Model the Way #2 Inspire a Shared Vision #3 Challenge the Process #4 Enable Others to Act #5 Encourage the Heart

Challenge the Process  Issue- During our last year’s A-133 audit, LLU had a finding. This finding concluded that LLU equipment release forms were not completed or documented properly.  Possible Solution: complete an audit with limited scope and focus on federal projects to find problem areas.

Inspire a Shared Vision  To reduce risk for future audit findings  To make sure we are in compliance with new UG regulations  To review analyst work and reaffirm their due diligence  Assess risk and involve Internal Audit and key players to support the continued need

Model the Way  To provide an example or model for others to follow  To lead other analysts in taking action  Process Included:  Narrow focus, with federal and federal flow-through projects  Pull transactions for previous fiscal or calendar year  Randomize transactions and selected based on known risk areas and other common  i.e. Miscellaneous expenses, Miscellaneous professional fees, Subaward payments, Capital Equipment and Salaries and wages  Select (x%) of transactions to review  Have other financial analyst assist with pulling the transactions  Complete review

Enable Others to Act & Encourage the Heart  Analyze transactions  Consider analyst progress report submissions and expenses incurred outside of the project period  Provide report for management to review  Train analysts and provide awareness to current deficiencies  Present to internal audit need for research focus on risk

Project Status  Completed two phases of the project by completing and reviewing selections, obtaining leadership support, and allowing analyst to participate and review their work  I’ve met with my director and informed her of additional areas of risk and are determining how to reduce  My next step- create a plan to make this project sustainable and to complete on a quarterly basis

Personal Growth  Planting the seed (or idea) is part of inspiring a shared vision. Personal credit or praise does not need to be the highlight  Sincere encouragement is key to building rapport & enabling others to participate  Be ready for change and keep current (Find new cheese)  Challenging the process can be done in a amiable way that provides the opportunity for open discussion  By following the five practices I will strengthen my leadership skills which may lead to new opportunities

Giving Back to NCURA  I’ve volunteered at the NCURA Annual Registration Desk & plan to continue volunteering for upcoming opportunities  I’ve informed my LLU colleagues of the NCURA Lead Me Program & it’s benefits  Maintain network within NCURA Collaborate  Seek opportunities as a Region 6 volunteer  MINT applicant

Questions? Elaine Moya, MBA, CRA- Financial Analyst III Loma Linda University Office of the Vice President of Research Affairs Financial Management Taylor Street Suite 202, Loma Linda, California (909) · fax (909) ·