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Metsger: We Want to Hear from Credit Unions on Examinations and Supervision

Metsger: We Want to Hear from Credit Unions on Examinations and Supervision

NCUA Exam Flexibility Initiative Seeks Stakeholders’ Experiences and Ideas
ALEXANDRIA, Va. (May 26, 2016) – Credit unions have an opportunity to assist the National Credit Union Administration in efforts to modernize the agency’s examination and supervision program.
NCUA has begun a multi-pronged outreach effort to collect experiences and ideas from credit union system stakeholders through the Exam Flexibility Initiative. This initiative will include meetings and teleconferences, and the agency has already opened an email account for credit unions to provide comments, ExamFlexibility@ncua.gov, and created a webpage to provide information about the initiative, available online here.
“We are committed to continual quality improvement and, in particular, to modernizing the examination process, the agency’s largest function,” NCUA Board Chairman Rick Metsger said. “More than 102 million account holders trust us to protect their hard-earned money, so our program needs to continue to be as effective as we can make it, but it also needs to be efficient for credit unions. I’m looking forward to a thoughtful dialog with stakeholders on how we can improve this program, place fewer burdens on credit unions and protect members’ deposits.”

View the entire press release here​

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Metsger Will Launch a "Thoughtful, Thorough" Review of Examination Process

ALEXANDRIA, Va. (May 12, 2016) – National Credit Union Administration Board Chairman Rick Metsger is initiating a review of the agency's examination process, including the frequency of examinations, and he will form a working group to bring all stakeholders into that effort.

Metsger outlined his plans in a speech today to the Idaho Credit Union League.​

 "We need to see how we meet our statutory responsibility to examine credit unions for safety and soundness with as small a​ footprint as possible," Metsger said. "My number one priority this year is to focus on continual quality improvement. Part of that is looking at our examinations. I want a thoughtful, thorough review of how we might reduce the time we spend onsite and the frequency with which we conduct examinations where performance standards for safety and soundness justify an extended cycle.

"To begin this process," Metsger said, "we must first remove the requirement that every federal credit union, and all federally insured, state-chartered credit unions with more than $250 million in assets, be examined each calendar year. This prescriptive requirement creates a logjam of exams at the end of each year, which is neither effective nor efficient."

The goal, Metsger said, is to implement this change within the next two months. Removing the calendar year requirement will not alter the general objective of examining credit unions every 12 months, he said, but it is a necessary first step towards establishing an extended examination cycle for well-managed, financially sound credit unions.

Metsger also said he will form an internal working group, similar to the one that developed the agency's proposed field-of-membership rule, so the agency can hear from stakeholders and make further changes to the examination process "sooner rather than later."

Metsger said enhanced technology tools should enable NCUA's examiners to collect more data without having to make onsite visits, benefitting both credit unions and NCUA's workforce.

Rob Fitzgerald of BFB will address executive recruitment in Denver

Rob Fitzgerald  Vice President, Relationship Management with BFB

With three out of ten CEOs currently eligible, or will be eligible, to retire in the next five years, the pace of executive recruitment is increasing. Many credit unions will find themselves recruiting for executives for the first time in decades – and might suffer from sticker shock if they aren’t prepared. To attract the best candidates, start planning now. Find out what executive benefit plans are trending and how to offer a competitive package. Learn practical strategies to ensure your plans are compliant. This educational presentation will benefit credit unions of all asset sizes.

Rob consults with credit unions nationally to implement executive benefit plans as well as benefit liability and institutional asset management programs. Rob is responsible for ensuring the ongoing performance and regulatory compliance of all plans. He works closely with boards and executives to develop recruiting and retention strategies.