Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Advicelivecoming on NCUA examination issues
ALEXANDRIA, Va. (1/3/08)—The National Credit Union Administration (NCUA) will offer a Webinar this month on key examination issues for 2008 that will focus particularly on evaluations of third-party relationships and strategic planning. NCUA board member Gigi Hyland announced Wednesday that she will moderate the informational session that is scheduled for Jan. 29. It is a follow-up to the agency’s recently released Letter to CUs (07-CU-13) on the topic. (see News Now 12/28/07, “CU examiners schooled on third-party relationships.”) That letter recognized that credit unions use third parties for many types of services, including lending programs, regulatory compliance and electronic delivery. The agency endorsed the value of such relationships, and stated that it does not intend to stifle innovative use of the arrangements to meet members' needs. However, the guidance also stated that even with proper due diligence procedures, a credit union can only mitigate, rarely eliminate, risks associated with outsourcing. It stated that when examiners evaluate third-party arrangements, they should ensure a credit union has addressed the following areas in a way that is commensurate with their size, complexity and risk profile:
* Risk assessment and planning; * Due diligence; and * Risk management, monitoring and control.
The Webinar will be held from 1:00-2:30 p.m. (EDT). Additional information and registration details will be posted on the NCUA website, www.ncua.gov, next week, according to the agency.
Other Resources

RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
1 Day ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
1 Day ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
1 Day ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
1 Day ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
1 Day ago