Did You Know that Your Draft Examination Report Now Gets A Higher-Level Review at NCUA Before You See It?
Long ago when I started at NCUA I was surprised that right out of training I was authorized to issue reports directly to credit unions typically without any supervisory review.
Jump ahead 30 some years and as NCUA Executive Director I studied this issue and learned that other federal banking regulators required a supervisory review of ALL reports before they were issued to banks.
I also knew from my work with state regulators that most also required a review of the report at the office level, which always seemed wise to me.
At NCUA I established an internal working group to study this longstanding practice. The NCUA Board heartily supported a change requiring a higher-level review. A test program was piloted before my departure. There was much resistance at different levels of the field examination program.
I am happy to report that NCUA leadership realized the importance of this change and now all draft examination reports require a higher level of review.
Who reviews your report is determined by your CAMEL rating and asset size. Larger and weaker CAMEL rated credit unions are reviewed at a higher level.
This will undoubtedly improve consistency and quality of the examination process. It will also likely add a few days to the examination cycle.
NCUA has someone review draft reports internally. Do you have someone do the same? I offer this service and I speak and understand their language.
So lets explore if we can work together?
If you would like to talk about possibly adding my experience to your team email me at firstname.lastname@example.org, or schedule your FREE strategy session by clicking HERE