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Washington
Examiners ID CU risk areas NCUA OIG says
ALEXANDRIA, Va. (7/9/12)--National Credit Union Administration (NCUA) regional management and staff are identifying and monitoring potential high-risk areas, and ensuring that risks are adequately addressed, the NCUA's Office of the Inspector General (OIG) said in a recent report.

The NCUA OIG reviewed examiner actions from 25 credit unions. Five credit unions from each of the five NCUA regions were chosen for the study.

NCUA examiners had recently addressed high risk issues such as concentration, liquidity, and interest rate risks at 19 of those 25 credit unions, the OIG found. At these credit unions, NCUA examiners performed follow-ups for open Documents of Resolution (DOR) items, held or planned onsite and offsite contacts with the credit unions, drafted and/or issued Regional Director Letters and letters of understanding, changed CAMEL ratings, or took other actions, the OIG reported.

The OIG report also found that existing issues at four of the six remaining credit unions had been previously addressed by NCUA examiners in some fashion, and reported that examiners had either performed or were scheduled to perform followups at all six of the credit unions.

However, NCUA staff did question the actions of state examiners in two instances.

The OIG did not recommend any changes to the NCUA's examination regime.

NCUA examiners have received a new standardized National Supervision Policy Manual for examiners. The new manual, the NCUA said earlier this year, will help ensure that credit unions are treated more consistently from region to region. The manual responds to the NCUA Board's direction to remove regional differences in quality control, and implements key recommendations from federally mandated Material Loss Reviews conducted by NCUA's Office of Inspector General, the agency added.

The Credit Union National Association has said that while examination consistency can be positive, the goal is to have examiners treat credit unions in a consistently professional manner, allowing the credit unions to develop and implement their own solutions to address problems.

For the OIG report, use the resource link.
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