NCUA’s Supervisory Focus for 2014; NCUA Webinar on Exam Modernization
Written by Bernadette Clair, Senior Regulatory Compliance Counsel
NCUAÃ¢ÂÂs Supervisory Focus for 2014.Â Last Friday, NCUA released Letter 14-CU-02, detailing its 2014 examination focus. For 2014, the emphasis is heavy on risk mitigation. From the letter Ã¢ÂÂ Ã¢ÂÂIn 2014, NCUA will be working to ensure that credit unions identify and mitigate forward-looking risks before they threaten the viability of credit unions and the stability of the Share Insurance Fund.Ã¢ÂÂ (My emphasis.)
Specific areas of supervisory focus for 2014 include:
- Interest Rate Risk
- Cybersecurity Threats
- Money Services Businesses (MSBs)
- Private Student Lending
In addition to these specific areas of focus, the letterÂ highlights compliance with new rules.Â NCUAÂ also says it will be looking to reallocate resources Ã¢ÂÂmore efficiently and effectivelyÃ¢ÂÂ and describesÂ several steps NCUA will be taking in 2014, intended to improve and streamline the exam process Ã¢ÂÂ letÃ¢ÂÂs hope so!
The information in this letterÂ is invaluable for exam preparation this year, so be sure to giveÂ it a read, available here.
NCUA Webinar on Exam Modernization.Â This month,Â NCUA will be hosting a free webinar on its new examination report process. The webinar will provide an overview of the changes NCUA has made to streamline and improve the consistency of the examination report process, and give participants an opportunity to get a better understanding of the new procedures related to Documents of Resolution and the examination report.
This free webinar will be held on Wednesday, January 22, 2014, at 2 p.m. EST. Register here.
Participants may submit questions in advance at WebinarQuestions@ncua.gov. The subject line of the email should read Ã¢ÂÂExamination Modernization Webinar.Ã¢ÂÂ