Credit Union Exam Solutions Presents With Flying Colors Organizational Review - What It Means If NCUA Asks For It
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May 8, 2025 Join Steve Farr, a former NCUA expert in enforcement, and Todd Miller, a seasoned examiner with 34 years at NCUA, as they delve into the complexities of organizational reviews in credit unions. They discuss the potential implications of these reviews on credit union management and operations. With personal anecdotes, they highlight the importance of proactive measures for governance compliance and the benefits of hiring experienced professionals to navigate systemic challenges. It's a must-listen for those seeking to enhance their operational strategies!
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Handle NCUA Organizational Reviews Carefully
- If NCUA asks for an organizational review, it's a serious sign of underperformance in management or the board.
- Engage an independent third party with a clear scope approved by NCUA before starting the work.
Get NCUA Approval Before Hiring
- Always get NCUA's approval on the third party and the engagement letter before starting an organizational review.
- Understand that such a review may focus on specific departments and signal systemic issues needing board attention.
Importance of Good Management Assessments
- Management assessments often reveal blind spots and weaknesses boards may overlook.
- Effective boards perform consistent, clear appraisals of senior management to maintain accountability.