ALEXANDRIA, Va. (1/16/08)—The National Credit Union Administration (NCUA) issued a notice Tuesday that it has opened registration for its Jan. 29 webinar on key examination issues for 2008, which will focus particularly on evaluations of third-party relationships and strategic planning. NCUA board member Gigi Hyland will moderate the informational session, which will follow up on 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 advised that even with proper due diligence, a credit union can only mitigate risks associated with outsourcing, rarely eliminate them. It stated that examiners who evaluate third-party arrangements 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 are be posted on the NCUA website. Use the resource links below to access the agency website and to register for the webinar.