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CUNA Tips on third-party due diligence
WASHINGTON (4/28/08)—The Credit Union National Association (CUNA) is offering a May 13 audio conference to help credit unions with issues surrounding one of federal examiners’ key 2008 priorities--due diligence requirements for third party vendor relationships. The National Credit Union Administration (NCUA) has noted it will direct examiners to look at credit union efforts to assess, monitor, and manage risks associated with outsourced services at all stages of the relationship. The “Due Diligence With Third Party Vendors – Getting It Right” audio conference is intended to help credit unions with oversight and the adoption of careful monitoring and reporting practices. It will examine the requirements and offers solutions and approaches from practitioners that are working for credit unions. CUNA recently created a new task force to help credit unions meet their due diligence responsibilities with third-party vendors and to do so without unnecessary duplication of effort. Also upcoming, credit union professionals will be able to get answers to their pressing compliance questions during a May 29 “Pressing CU Compliance Issues” audio conferences. The second audio session will address some of the most popular hot-topic compliance issues, as determined by comments received from credit unions. Participants may help build the agenda by e-mailing their questions to cucomply@cuna.coop before the conference. Use the resource link below for more information or to register.
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