NCUA's 2024 Examination Priorities Letter to Credit Unions
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NCUA Examination Priorities for 2024 and Guidance for Credit Unions
In this podcast, Samantha Shares discusses the National Credit Union Administration's (NCUA) examination priorities for 2024 as part of a letter to credit unions. The letter outlines multiple areas of focus, including credit risk, liquidity risk, consumer financial protection, information security, interest rate risk, and bank secrecy act compliance among others. The discussion addresses the evolving economic circumstances including rising interest rates, growing financial strain, and potential threats to the Share Insurance Fund. Additionally, the podcast highlights perspectives on supporting small credit unions and minority depository institutions, as well as tips for credit union examination success and managing risk effectively.
00:00 Introduction and Sponsorship
00:48 NCUA's Examination Priorities for 2024
02:43 Supervisory Priorities for 2024
02:46 Credit Risk
04:56 Liquidity Risk
07:28 Consumer Financial Protection
08:58 Information Security (Cybersecurity)
11:26 Interest Rate Risk (IRR)
12:41 Other Updates and Bank Secrecy Act (BSA) Compliance
13:48 Support for Small Credit Unions and Minority Depository Institutions
15:13 Conclusion and Contact Information
In this podcast, Samantha Shares discusses the National Credit Union Administration's (NCUA) examination priorities for 2024 as part of a letter to credit unions. The letter outlines multiple areas of focus, including credit risk, liquidity risk, consumer financial protection, information security, interest rate risk, and bank secrecy act compliance among others. The discussion addresses the evolving economic circumstances including rising interest rates, growing financial strain, and potential threats to the Share Insurance Fund. Additionally, the podcast highlights perspectives on supporting small credit unions and minority depository institutions, as well as tips for credit union examination success and managing risk effectively.
00:00 Introduction and Sponsorship
00:48 NCUA's Examination Priorities for 2024
02:43 Supervisory Priorities for 2024
02:46 Credit Risk
04:56 Liquidity Risk
07:28 Consumer Financial Protection
08:58 Information Security (Cybersecurity)
11:26 Interest Rate Risk (IRR)
12:41 Other Updates and Bank Secrecy Act (BSA) Compliance
13:48 Support for Small Credit Unions and Minority Depository Institutions
15:13 Conclusion and Contact Information
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