Sample interview questions: How do you ensure compliance with internal controls in treasury operations?
Sample answer:
Compliance with Internal Controls in Treasury Operations
- Establish a Comprehensive Control Framework: Implement clear guidelines, policies, and procedures that outline roles, responsibilities, approvals, and independent reviews.
- Perform Regular Risk Assessments: Conduct ongoing evaluations to identify and mitigate potential vulnerabilities in treasury processes.
- Implement Segregation of Duties: Ensure that treasury activities are separated appropriately to prevent fraud or error. Key functions should be assigned to different individuals or teams.
- Maintain Accurate and Up-to-Date Records: Implement systems and processes to effectively capture, store, and retrieve all treasury transactions and related documentation.
- Conduct Internal and External Audits: Engage both internal and external auditors to independently assess compliance with internal controls. This provides assu… Read full answer