All Countries
Risk Management
Credit Risk Audit Program

Credit Risk Audit Program Template for Ireland

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Credit Risk Audit Program

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Credit Risk Audit Program

"I need a Credit Risk Audit Program for a medium-sized commercial bank in Ireland, with particular focus on SME lending and compliance with the Central Bank of Ireland's 2025 enhanced credit risk management guidelines."

Celebrated by
Collaborations with
Investors
Document background
The Credit Risk Audit Program is designed to provide financial institutions operating in Ireland with a structured approach to evaluating and monitoring credit risk management practices. This document becomes necessary when organizations need to establish or update their credit risk audit procedures to comply with Irish regulatory requirements and EU banking standards. The program includes detailed audit procedures, risk assessment methodologies, reporting templates, and compliance checklists specifically tailored to the Irish banking sector. It addresses the requirements set forth by the Central Bank of Ireland and incorporates elements from key legislation such as the Central Bank Act, European Union Capital Requirements Regulations, and relevant consumer protection laws. The document serves as both a policy framework and a practical guide for implementing effective credit risk audit procedures.
Suggested Sections

1. 1. Purpose and Scope: Defines the objectives of the credit risk audit program and its scope of application within the organization

2. 2. Regulatory Framework: Outlines the relevant laws, regulations, and supervisory requirements that govern credit risk management and auditing

3. 3. Roles and Responsibilities: Defines the roles of various stakeholders including audit team, management, credit committee, and board of directors

4. 4. Risk Assessment Methodology: Details the approach for identifying, assessing, and measuring credit risk across different portfolios

5. 5. Audit Planning and Frequency: Establishes the framework for planning credit risk audits and determining their frequency based on risk assessment

6. 6. Audit Procedures: Comprehensive procedures for conducting credit risk audits, including specific steps and methodologies

7. 7. Documentation Requirements: Specifies the documentation standards for audit working papers, evidence collection, and retention

8. 8. Reporting Framework: Defines the structure and content of audit reports, including rating systems and recommendation formats

9. 9. Follow-up Procedures: Establishes processes for monitoring the implementation of audit recommendations and corrective actions

10. 10. Quality Assurance: Outlines the quality control measures for ensuring the effectiveness of the audit program

Optional Sections

1. Portfolio-Specific Procedures: Detailed procedures for specific loan portfolios (include when institution has distinct lending segments)

2. Technology and Systems Review: Procedures for auditing credit risk management systems (include when automated systems are significant)

3. Third-Party Risk Assessment: Procedures for assessing credit risk related to third-party relationships (include when significant outsourcing exists)

4. Cross-Border Considerations: Special considerations for international lending (include when institution has cross-border operations)

5. Environmental Risk Factors: Procedures for assessing environmental and climate-related credit risks (include when relevant to lending portfolio)

Suggested Schedules

1. Appendix A: Risk Assessment Templates: Standardized templates for conducting credit risk assessments

2. Appendix B: Sampling Methodology: Detailed guidance on sampling techniques and sample size determination

3. Appendix C: Audit Programs: Detailed audit programs for different types of credit exposures

4. Appendix D: Reporting Templates: Standard templates for audit reports and recommendation tracking

5. Appendix E: Key Risk Indicators: List of key risk indicators and their measurement methodologies

6. Schedule 1: Regulatory Requirements Checklist: Comprehensive checklist of regulatory requirements and compliance points

7. Schedule 2: Document Review Checklist: Checklist for reviewing credit files and documentation

8. Schedule 3: Rating Criteria: Detailed criteria for risk rating and classification of credits

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Audit Program
Audit Cycle
Audit Evidence
Audit Trail
Credit Risk
Credit Exposure
Credit Rating
Credit Score
Credit Portfolio
Concentration Risk
Counterparty Risk
Default Risk
Risk Appetite
Risk Assessment
Risk Matrix
Risk Rating
Material Finding
Non-Performing Loan
Performing Loan
Loan-to-Value Ratio
Debt Service Coverage Ratio
Probability of Default
Loss Given Default
Exposure at Default
Expected Credit Loss
Risk Weighted Assets
Capital Adequacy
Regulatory Capital
Internal Controls
Control Environment
Compensating Controls
Working Papers
Sampling Methodology
Materiality Threshold
Risk Mitigation
Credit Committee
Audit Committee
Board of Directors
Senior Management
Competent Authority
Central Bank of Ireland
European Banking Authority
Basel Framework
ICAAP
Stress Testing
Credit Monitoring
Portfolio Review
Loan Classification
Provision Coverage
Credit Enhancement
Collateral Valuation
Clauses
Scope and Objectives
Regulatory Compliance
Governance Structure
Risk Assessment
Audit Methodology
Sampling Procedures
Documentation Requirements
Reporting Requirements
Confidentiality
Data Protection
Quality Control
Performance Standards
Review and Update
Roles and Responsibilities
Independence and Objectivity
Professional Standards
Audit Planning
Risk Rating
Portfolio Review
Conflict of Interest
Record Retention
Information Security
Escalation Procedures
Communication Protocol
Training Requirements
Resource Allocation
External Cooperation
Regulatory Reporting
Audit Timeline
Follow-up Procedures
Relevant Industries

Banking

Financial Services

Credit Unions

Insurance

Investment Management

Lending Institutions

Fintech

Mortgage Providers

Asset Management

Commercial Banking

Relevant Teams

Internal Audit

Risk Management

Credit Analysis

Compliance

Credit Operations

Portfolio Management

Risk Control

Credit Review

Loan Administration

Quality Assurance

Relevant Roles

Chief Risk Officer

Internal Audit Director

Credit Risk Manager

Compliance Officer

Risk Audit Manager

Senior Credit Analyst

Credit Review Officer

Risk Assessment Specialist

Audit Committee Member

Credit Portfolio Manager

Chief Internal Auditor

Credit Operations Manager

Risk Control Officer

Banking Supervisor

Credit Risk Auditor

Industries
Central Bank Act 1942-2018: Foundational legislation establishing the Central Bank of Ireland's regulatory powers and supervisory framework for financial institutions
European Union (Capital Requirements) Regulations 2014: Implementation of EU Basel III requirements, covering capital adequacy and credit risk management requirements for banks
Consumer Credit Act 1995: Regulates consumer credit and requires specific protections for consumers in credit agreements
Credit Reporting Act 2013: Establishes the legal framework for credit reporting and the Central Credit Register in Ireland
General Data Protection Regulation (GDPR): EU regulation governing the processing and protection of personal data, crucial for handling customer credit information
Central Bank of Ireland's Credit Risk Management Guidelines: Regulatory guidelines specific to credit risk management practices and expectations for Irish financial institutions
Criminal Justice (Money Laundering and Terrorist Financing) Act 2010-2021: Relevant for credit risk assessment as it requires due diligence procedures in financial transactions
European Union (Bank Recovery and Resolution) Regulations 2015: Framework for managing bank failures and credit risk implications
Code of Conduct for Business Lending to Small and Medium Enterprises: Central Bank of Ireland's requirements for credit provision to SMEs
Consumer Protection Code 2012: Central Bank of Ireland's requirements for consumer protection in financial services, including credit provision
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Credit Risk Audit Program

A comprehensive credit risk audit framework for financial institutions in Ireland, aligned with Central Bank of Ireland and EU regulatory requirements.

find out more

Risk Assessment And Management Policy

An Irish law-compliant policy document establishing systematic procedures for organizational risk assessment, management, and monitoring.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.