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Washington
NCUA suggests CU agency steps to improve exams
ALEXANDRIA, Va. (4/12/12)--In this month's National Credit Union Administration (NCUA) Report, Director of Examinations and Insurance Larry Fazio said NCUA examiners and credit union management "can both take a lot of specific steps to contribute to a conducive exam environment."

Fazio said these steps include:
  • discussing expectations;
  • setting ground rules and the exam approach upfront;
  • agreeing to a regular update schedule during the examination so there are no surprises for the examiners or members of a credit union's management team;
  • coordinating how examiners and credit union staff will interact, and how these interactions will impact the credit union; and
  • reviewing the specific risks that were identified during the examination, and discussing how those risks will be resolved.
"Each of these steps largely revolves around effective communication," he said. Fazio noted that the agency will soon kick off a series of "listening sessions" with credit unions across the country.

The NCUA listening sessions will begin on May 2 in Boston, Mass., and are also scheduled for:
  • May 9 in Alexandria, Va.;
  • June 5 in St. Louis, Mo.;
  • June 12 in Orlando, Fla.;
  • July 10 in San Diego, Calif.; and
  • July 31 in Denver, Colo.
Fazio said during these meetings he is interested in hearing opinions on how examiners and credit unions can better "understand and recognize the challenges and demands of their corresponding roles, and the associated points of view."

He added that he wants to listen to suggestions on best practices NCUA examiners can use to achieve results-oriented examinations conducted with professionalism and empathy, and thoughts on how to build "a constructive working relationship and trust" between examiners and credit unions. He said he is also looking forward to discussing how credit union management should interact with examiners, and how the appeals process for examiner decisions could be improved.

For the full NCUA Report, use the resource link.
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