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August 2002

President's Letter

Larry Rex, Chapter President“Welcome Back” to all the internal audit professionals of the Dallas IIA Chapter. I hope you and your family had a peaceful and enjoyable summer.

As you may know, Bill Bishop, IIA President, awarded our chapter with "Platinum" status at the Leadership Conference this summer. The "Platinum" award was special recognition for our chapter maintaining 10 straight years of "Gold" status. Go Dallas!!!

Our first event of the year relates to one of our major goals for 2002-2003 …increasing the number of professionals with the CIA designation. Dr. Glenn Sumners, LSU Endorsed Internal Audit Program, will facilitate his "world renown" CIA Review Course on September 13 -16, 2002 at the JCPenney building at Park Central in Dallas. If you are interested in becoming certified, this course can certainly help you get there. …and it is affordable.

Melinda Lokey, Triad Hospitals, Inc., is leading the team that is coming up with our monthly meeting schedule. We will be publishing a calendar of events on the web site soon. Remember our 2002-2003 year begins in September.

The Board of Governors met in June and will meet again on August 22, 2002 to finalize the direction for the 2002-2003 Chapter year. If you have ideas that you would like to contribute, please feel free to contact me at (972) 431-5947.

Welcome back,

David Price
Chapter President

Next Meeting

September Meeting & Tentative 2002/2003 Schedule

Join us at CityPlace on September 24, 2002, for our first meeting of the year! The pre-meeting will include a discussion of the proposed changes in the governance structure (see more information below) of the Institute of Internal Auditors, which all members will be called to vote on later in 2002. Dallas' regional director, Steve Goepfert, will be joining us from Houston. For the luncheon, we will be honored with a visit from Veronica Johnson, IIA Chapter Relations Manager from Florida, with a presentation on the new Professional Practices Framework. The post-meeting will be a panel discussion on Quality Assurance Reviews for the Audit Department.

More details on all of these sessions will be published in the September eNews.

Please mark your calendar these meeting dates for the 2002-2003 chapter year:

  • September 24, 2002
  • October 15, 2002
  • November 19, 2002
  • December 19, 2002
  • January 16, 2003
  • February 13, 2003
  • March 20, 2003
  • April 17, 2003
  • May 13, 2003

Chapter News

Global Governance

In April, The IIA's Global Advisory Committee introduced a Global Governance Plan to The IIA Board of Directors that contains recommendations regarding board membership, board operations, establishment of a permanent North American Committee, financial cost sharing between Global and North American operations, proposed Global services, and staffing. This plan has been in discussion and development for more than three years.

The Board of Directors approved exposure of the plan to members that plan, and has asked that all members become familiar with its provisions and be ready to vote on the recommended Bylaw changes either in person at a special membership meeting in Orlando on December 4th, or by secure proxy ballot. An electronic proxy will be available on this Web site beginning in mid-October.

The IIA's vision of a global profession includes the:

  • Internationalized standards for the global practice of the profession.
  • Globalization of the professional certifications for internal auditors.
  • Representation of the global profession before regional and international bodies.
  • Availability of resources to develop the program profession and expand membership
  • Robust sharing of information among member affiliates.
  • Globalize the mindset of the Board of Directors, affiliate leaders, international committee members, and staff.

The primary recommendations of the plan include:

  • Decreasing the existing board of directors from 64 to 37 members with directors from larger affiliates giving it a more balanced global representation. The smaller size will increase the interaction and effectiveness of directors in strategically managing The Institute.
  • Establishing a new North American Committee to manage North American operations and focus on issues specific to the United States, Canada, and the Caribbean.
  • Increasing the number of products and services that are global in nature by overseeing and managing specific global initiatives and by identifying and integrating products and services from IIA affiliates into the Professional Practices Framework.
  • Holding an annual Global Forum or Council of affiliate representatives in conjunction with The IIA's International Conference. This increased interaction gives affiliate representatives an opportunity to share issues impacting The IIA, provide input to the organization's strategic direction, and discuss other global issues. Global Forums, which in the past have been held every two years, have proven to be highly productive strategic planning session for sharing ideas and concerns, setting goals and objectives, and ensuring a sound and productive future for The Institute and the profession as a whole.
  • Continuing the existing Finance Committee's development and oversight of a financial reports which distinguishes North American funding from global funding and which funds are shared. An important premise of the Global Governance Plan is that global funding should support global operations

Please review the plan and its related documents (there is a link on the www.theiia.org home page) so that you can cast an informed vote. Advanced copies of the Bylaws changes will be added to the Web site soon, as will information on how the membership vote will be conducted.

Direct any questions or concerns to your local leadership or to Dave Richards at richardsda@firstenergygroup.com.


The Dallas Chapter received the following awards for the 2001-2002 year:

  • GOLD - For Chapter Achievement Program - with Special Platinum recognition for receiving Gold for 10 consecutive years
  • 2nd Place - Academic Relations Program
  • 2nd Place - Donald E. Ricketts Chapter Research Award

Congratulations to all chapter members who made these possible.

Chapter Seminars

CIA Review Course

CIAźThe Certified Internal Auditor exam is scheduled for November 20 - 21, 2002. The Dallas Chapter will once again sponsor an interactive CIA review course to help prepare candidates. This four day course will be taught by Dr. Glenn Sumners, Director of the Center for Internal Auditing at LSU. Comprehensive printed study materials will be provided for the course. Register On-line for this review course.

The course will be taught September 13 through September 16, 2002 (Friday - Monday), 8:00 AM to 5:00 PM each day. Go to dallasiia.org/CIAReview_F02.htm for details and to sign up.

Career Opportunities

Are you currently in the job market either voluntarily or involuntarily? Let the Employment Committee help you. Send us your resume and we will include you in our resume database. We receive calls from recruiters and hiring managers for open positions and will forward your resume if there is a match. We get calls for staff to director levels, IT to finance, local to out of town. All inquiries will be handled confidentially. If you have any questions, we will have a table set up at the next chapter meeting, or give us a call or e-mail us. We look forward to helping you.


ORIX Capital Markets, one of the largest investors in Commercial Mortgage Backed Securities (CMBS), high yield corporate bonds and syndicated bank loans and 5th largest commercial loan servicer is seeking an Accounting Manager. This position reports to the Chief Financial Officer.

This position is responsible for the finance and accounting functions related to the commercial servicing operations for a commercial real estate finance company with $1.2 billion in assets and annual revenues of $125+ million. Divisional operations involve $45 billion in commercial loan servicing performed by a 160 employee group. Position serves a liaison for Finance Division and line of business management and is responsible for divisional financial accounting, budgeting and profitability analysis. This position is also responsible for the management of 3 direct reports.

Candidate should have exposure to finance services accounting preferably mortgage banking with knowledge of FAS 65 and 140 requirements. Accounting experience with commercial loan servicing and/or public accounting experience is desired. Five or more year’s experience with successful staff management is required. Track record of successful working relationships with senior and mid-level executives. Successful candidate must be a team oriented and hands on manager, able to set and communicate realistic objectives and meet deadlines and budgets, able to manage expectations and competing priorities, a motivator who maintains a high level of morale, efficiency and a positive attitude, responsive, hardworking and able to perform in a fast-paced, demanding environment. A high level of professionalism and superior written and oral communication skills are also required. High quality educational credentials are preferred, with an undergraduate degree in Accounting/Finance. A CPA is required.

Please forward your resume in confidence to ORIX Capital Markets, Attention Human Resources Dept., 1717 Main Street, 8th floor, Dallas TX. 75201, Email: rnelson@orixcm.com. Visit our website at www.orixcm.com.

ORECM is an EOE committed to diversity in the workplace and promotes a drug-free environment.



ORIX Capital Markets, one of the largest investors in Commercial Mortgage Backed Securities (CMBS), high yield corporate bonds and syndicated bank loans and 5th largest commercial loan servicer is seeking an Associate Auditor.


Assists in planning internal audit work and approach on assigned segments of the audits. Assists in determining records or activities to analyze, the extent of tests to apply, and the working papers to prepare. Assists in performing the audit in a professional manner, in accordance with the approved program and within the time constraints given. Recommends the means of obtaining, analyzing, and evaluating evidentiary data as a basis for an informed, objective opinion on the adequacy and effectiveness of the system of control and on the efficiency of performance of the activities being reviewed. Reviews transactions, documents, records, reports, and methods for accuracy and effectiveness. Prepares acceptable working papers that record and summarize data on the assigned audit segment in accordance with departmental policies. Communicates effectively and in a professional manner with employees and management. Holds preliminary discussions on possible deficiencies with operating personnel to verify facts and to obtain explanations of and reasons for such deficiencies. Prepares or assists in preparing formal written Audit Issues and reports, as requested, expressing opinions on the adequacy and effectiveness of the system and the efficiency with which activities are carried out. Learns audit and accounting theory and practice, professional standards, mortgage and capital market industry practices and requirements, audit techniques, and how to apply and integrate them into the audits through on the job training, departmental training and self-study.


Bachelor’s degree in accounting, finance, or business, with a minimum of 30 hours of accounting courses. One to three years of experience in mortgage industry auditing or public accounting.


CPA or CIA Certifications. Big 5 experience in a financial services environment.

Please forward your resume to ORIX Capital Markets, Attention Human Resources Dept., 1717 Main Street, 8th floor, Dallas TX. 75201, or email: rnelson@orixcm.com. Visit our website at www.orixcm.com.

OCM is an EOE committed to diversity in the workplace and promotes a drug-free environment.


Staff Accountant

ORIX Capital Markets (OCM) is one of the largest investors in Commercial Mortgage Backed Securities (CMBS), high yield corporate bonds and syndicated bank loans and 5th largest commercial loan servicer. OCM is a leading provider of loan servicing and asset management/loan workout services. Its base includes some of the nation's largest institutional investors, portfolio owners and loan originators.


This staff accounting position provides financial and accounting support to the commercial loan servicing line of business controller. OCM services over $49 billion in performing commercial loans and provides asset management and workout expertise to over $36 billion of commercial mortgage backed securities and privately held portfolios.

Staff accounting functions in the areas of financial reporting, cash management/treasury and planning/budgeting. Includes preparation of journal entries, maintenance of sub-ledgers, review of general ledger postings, account reconciliation’s, analysis of income and expense account activity, profitability analysis and involvement in monthly forecasting and annual budget process. Also provides assistance with month-end closing process and preparation of monthly and annual financial statements. May perform some work with data required for state and federal tax filings. Areas include accounting and finance functions for commercial loan servicing operations and owned/foreclosed real estate operations. Degree in Accounting required. CPA or candidate preferred.


Proficient in Microsoft Office 97 (Excel, Word, and Access). Prior work experience and familiarity with SQL based general ledger systems, FRX & Crystal report writers are a plus.

Please forward your resume to ORIX Capital Markets, Attention Human Resources Dept., 1717 Main Street, 8th floor, Dallas TX. 75201, or email: rnelson@orixcm.com. Visit our website at www.orixcm.com.

OCM is an EOE committed to diversity in the workplace and promotes a drug-free environment.


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