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January 07, 2013

NCUA details exam focus in 2013

Examiners will be looking at credit unions' capacity in the areas of technology, balance sheet management operational risk and their management of unique risks associated with unconventional products in the year ahead, NCUA says in its January newsletter.

January's The NCUA Report notes the opening this year of the agency's Office of National Examinations and Supervision. The office is charged with oversight of natural person credit unions with more than $10 billion in assets as well as all corporate credit unions. It begins examinations of these institutions next year.

NAFCU, which remains in ongoing contact with the agency on the examination process, continues to press for more consistency and transparency in credit union exams.

Meanwhile, this year's examinations will address the following:

  • adoption of new technology – how well credit unions put risk-management controls in place when expanding the use of technology, such as online banking and social media;
  • balance sheet management – whether credit unions are appropriately managing earnings and capital without taking on undue levels of interest-rate, liquidity and credit risk;
  • operational risk – credit unions' capability to control operational risk and maintain a sound system of internal controls;
  • other assets – whether credit unions are actively managing the unique risks associated with unconventional products, such as investments in credit union-funded benefit plans or private student loan programs.

NCUA also plans to make continued use of supervisory letters to clarify regulatory requirements. The agency plans to issue guidance on member business loan waivers and personal guarantees, loan workout and troubled-debt restructured loans, and the use of credit ratings. The agency is also working to improve examiner training and information provided to credit unions about examination appeal options, it says.

For more, see the agency's January newsletter.

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