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?