In today’s fast-paced financial landscape, internal audit departments are under constant pressure to do more than just check boxes. They must evolve from a traditional compliance function into a strategic partner that provides real value to the organization. However, many teams are held back by outdated, manual processes that consume time and create risk. This was precisely the challenge facing Security State Bank & Trust before they embraced digital transformation. Their story serves as a powerful case study on how the right technology can redefine an entire department.
The Challenge: Drowning in Manual Work
When Cele Romero took the helm as Chief Internal Audit Officer at Security State Bank & Trust, he found a department reliant on paper-intensive processes. The team was juggling Word documents and Excel spreadsheets, a method Romero described as “clunky and difficult to manage”. This approach not only slowed them down, taking three to four days just to finalize a single audit report, but it also opened the door to inconsistencies and errors.
The core issue was clear: too much time was being spent on administrative work and not enough on delivering strategic insights. Romero recognized that to keep pace with an evolving industry and support the bank’s growth, something had to change.
The Solution: A Centralized, Automated Audit Hub
Security State Bank & Trust chose Wolters Kluwer’s TeamMate+ to modernize its audit and compliance functions. The platform immediately addressed their biggest pain points, transforming their operations in several key areas.
- Unifying Workflows for Absolute Consistency: With TeamMate+, all audit activities, from planning and risk assessment to testing and reporting, are located in one central hub. This eliminated the frantic search for documents on shared drives and ensured every update was saved instantly and securely. The result is a single source of truth that guarantees consistency across all work papers.
- Automating for Peak Efficiency: TeamMate+ automates the entire audit lifecycle, providing a robust framework that allows auditors to focus on what they do best. By moving away from manual report building, the team could provide management with crucial information far more efficiently to support key business decisions. The platform’s customizable reporting tools offer flexibility, allowing reports to be as high-level or as detailed as needed.
- Gaining Unprecedented Visibility and Control: For management, TeamMate+ provides a clear view of all ongoing projects. Romero notes he can now “keep my finger on the pulse of the audit schedule and avoid burning out my staff”. This visibility ensures benchmarks are met and that the team’s time is allocated effectively.
- Segmenting with the ‘Dimensions’ Feature: A standout feature for the bank is Dimensions, which allows them to create separate, self-contained environments for different audit areas like internal audit, compliance, and third-party audits. With a single click, Romero can switch “lenses” to view a specific area’s unique risk assessments, audit plans, and findings, giving him ultimate freedom and control.
The Result: A Strategic, Value-Driven Partner
By implementing TeamMate+, Security State Bank & Trust transformed its internal audit department from a paper-shuffling cost center into a valuable strategic asset. The biggest selling point, according to Romero, was the ability to “focus less on the administrative work and more on delivering value”. The move was a clear success, as he concluded, “the audit committee and CEO understood that bringing in TeamMate just made sense”.
The success story of Security State Bank & Trust is a testament to the transformative power of TeamMate+ and is a narrative being replicated by organizations worldwide. For businesses in Indonesia looking to achieve similar results, this same power is accessible through Walden Global Services (WGS). As an implementer of Wolters Kluwer TeamMate+ in the region, WGS provides the expert guidance and local support needed to seamlessly integrate this world-class audit management solution. To elevate your audit function from a manual process to a strategic advantage, contact Walden Global Services to begin your transformation journey.