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.
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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.