Tips on Starting an NCUA Exam Efficiently
Samantha: Hello, this is Samantha Shares.
This episode covers NCUAâs issuance of
Tips on Starting an Exam Efficiently.
The following is an audio
version of that webpage.
This podcast is educational
and is not legal advice.
We are sponsored by Credit Union
Exam Solutions Incorporated, whose
team has over two hundred and
forty years of National Credit
Union Administration experience.
We assist our clients with N C
U A so they save time and money.
If you are worried about a recent,
upcoming or in process N C U A
examination, reach out to learn how they
can assist at Mark Treichel dot com.
Also check out our other podcast called
With Flying Colors where we provide tips
on how to achieve success with N C U A.
This principle-based guidance is
a good tool for credit unions.
Tips on Starting an Exam Efficiently
The N C U A aims to promote a safe
and sound credit union system by
ensuring credit union examinations are
effective, efficient, and transparent.
To help in identifying issues in our
examination process, we ask credit unions
for feedback through the post-exam survey.
In recent post-exam survey responses,
some credit unions said they are
receiving duplicate requests for
previously provided exam documents.
To enhance the N C U A's document
request process, the agency has published
this webpage to give credit unions
tips on how to reduce the chances of
receiving duplicate document requests.
Also, we are reminding examiners of steps
that should be taken to avoid duplicate
requests and providing tips to help
examiners find previously provided items.
Exam Notification and Requesting Documents
Advanced planning and coordination between
the credit union and examiner-in-charge
is essential to an effective examination.
During the exam notification and document
request process, the examiner-in-charge
will take the following steps to promote a
well-organized and effective examination.
The examiner-in-charge will:
Determine if credit union management
prefers to provide the requested
documentation securely through the
MERIT survey, the N C U A's Secure
File Transfer Portal, or the credit
union's own secure file sharing site.
Send the Exam Notification Letter and
Document Request List at least four
weeks before the examination or contact's
planned start date, unless regional
management approves a shorter timeframe.
For more information, see the
National Supervision Policy Manual's
District Management Examination
and Supervision Planning section.
Customize requested items to include
only those items needed to address
the scope and risk profile for each
examination or contact, as required
by the National Supervision Policy
Manual's District Management Examination
and Supervision Planning section.
Ask all exam team members, including
specialists, to send their document
requests through the examiner-in-charge
to reduce the chances of the credit
union receiving duplicate requests.
When possible, the examiner-in-charge will
consolidate all document requests into a
single request list to avoid duplication.
Ensure all exam team members have access
to the documents provided, whether through
a MERIT survey, the N C U A's Secure
File Transfer Portal, or the credit
union's own secure file transfer site.
Providing Documents through
a Secure File Transfer Portal
Whether a credit union is using the
N C U A's Secure File Transfer Portal
or their own secure file transfer
site, the following steps can be
taken to improve an examiner's ability
to find and complete their review
of the exam documents provided:
Ensure documents are being
saved in folders that correspond
to their associated risk area
in the document request list.
N C U A's Secure File Transfer Portal
will allow users to drag and drop entire
folders from a computer to the portal.
This allows users to organize
materials on their computer before
uploading to the N C U A's portal.
Save files using a naming convention
that starts with the index number
on the document request list.
Include a list of requested but
not provided documents and explain
why they were not provided.
Provide a name and contact
information for the primary credit
union personnel examiners should
contact for each review area.
Credit unions can set up access to the
N C U A's Secure File Transfer Portal
by referencing the N C U A Secure File
Transfer User Guide for Credit Unions.
Providing Documents through a MERIT Survey
A credit union must be a MERIT
user to respond to a document
request survey in MERIT.
If an examiner-in-charge initiates a
document request survey through MERIT,
credit unions can reduce confusion
and improve an examiner's ability to
locate materials and identify which
items were not provided by uploading
documents to the proper survey question.
If documents related to multiple
survey questions are uploaded to
one response, it could increase
the chances of duplicate requests.
For more guidance on accessing and
responding to a document request
survey in MERIT, please reference
the Credit Union MERIT User Guide.
This concludes the document.
If your credit union could use assistance
with your exam, reach out to Mark Treichel
on LinkedIn, or at mark Treichel dot com.
This is Samantha Shares and
we thank you for listening.
