The COVID-19 pandemic created multiple challenges for the financial industry. As banks and credit unions struggled to stay open and help consumers, regulators realized concessions needed to made. NCUA added to its supervisory priorities mid-year pandemic-specific reviews and the FFIEC issued guidance on examining for COVID-19 risks. How is your credit union managing operational risk? How should CUs conduct ongoing risk assessments for the impact of the pandemic? Is your business continuity plan sufficient and adapting to changing risks?
Due to the unexpected nature of 2020's remote exams, there were many challenges. But there was much to be learned. The groundwork has been laid for continuing offsite exams as we move beyond COVID-19. Are you ready?
Covered Topics
- Interagency guidance for assessing safety and soundness
- NCUA approach to offsite exams
- Management response
- Loan accommodations
- Risk management
- Examiner expectations
- Benefits and drawbacks of remote exams
Who Should Attend?
Anyone involved in the exam process -- credit union boards, management, compliance officers