Founder Mark Treichel recently had the pleasure of being on Mike Lawson's show, CUBROADCAST. The following is a summary of that interview, which can be seen in its entirety HERE.
# NCUA Exam Trends: Insights from Mark Treichel
In a recent interview with CU Broadcast, Mark Treichel, founder of Credit Union Exam Solutions and former NCUA director and examiner, shared valuable insights on current NCUA exam trends. Here are the key takeaways:
## Communication Challenges
- The pandemic led to a shift from on-site to remote examinations, causing communication issues between examiners and credit unions.
- NCUA is struggling to complete exams in a timely manner, with only 67% of Code 3 and 80% of Code 4 credit unions receiving timely results.
- Credit unions should take control of the communication process by designating a main point of contact and documenting all commitments in writing.
## Growing Scrutiny of Information Security
- Cybersecurity remains a top priority for NCUA due to recent high-profile attacks.
- Expect increased focus on disaster communication plans and tabletop exercises.
- NCUA may push for third-party vendor authority to better address cybersecurity risks.
## Regulatory Expectations Trickling Down
- Capital planning requirements are expanding from the largest credit unions to those in the $5-15 billion range.
- Enterprise risk management practices are increasingly expected, even without formal regulations.
- Board governance has become a significant focus in recent exams.
## Balancing Regulatory Expectations with Resource Constraints
- Credit unions face challenges in meeting increasing regulatory demands while managing costs.
- Treichel advises pushing back on "okay ideas" that may lead to regulatory creep.
- When given deadlines by NCUA, credit unions should consider the realistic timeline needed and negotiate for more time if necessary.
Credit unions can benefit from expert guidance to navigate these trends effectively. Resources like Treichel's "With Flying Colors" podcast and the "Credit Union Regulatory Guidance" audio series can provide valuable insights for staying ahead of regulatory expectations.
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