The NAFCU Journal November-December 2019 - 29

"Credit unions should also understand
that NCUA has broad examination
authority, so they can go beyond those
priorities if they believe a credit union's
situation warrants it, based on past
exam results or potentially higher risk
in a particular area."
For example, Wanamaker points out that
a number of credit unions now are going
through core system conversions. That
situation may lead examiners to request
reports that would not have come up
otherwise. "If you're in that situation,"
she says, "before you get off that old
system, anticipate what might be needed
for the exam so you can run reports and
have them when the examiners visit.
And be prepared for a more granular
exam than you may have had in the past.
Because we had recently gone through
a core conversion, I think the examiners dug a little bit deeper to make sure
everything moved over correctly."

Welcome, Partners

Most credit unions are welcoming and
responsive to the exam team, Bruyere
says, and that gets the process off on the
right foot. "But if you're getting a request
[from an examiner] and it's not clear why
or what the goal is, don't be afraid to
ask why that particular request has been
made," she says. "Try to have as good
and open a dialogue as possible."
From his experience, former NCUA examiner Bearden recalls that the smaller the
credit union is, the more nervous they
tend to be about the exam. "The burden
is on the examiner to communicate [any]

issue in a way conducive to problemsolving," he says. "For me, it was pretty
simple: I don't want to argue with people
or have a difficult day-to-day job. It's
important for everyone to trust each other."
To help the relationship get off to the best
start, officials with the NCUA's Office of
Examination and Insurance advise that,
when possible, management should meet
with the examiner-in-charge (EIC) and
the exam team at the outset of each exam.
This provides opportunities for the team
to meet the key staff members they'll be
working with, NCUA officials say.
In addition, NCUA recommends
several steps that can help to manage
the exam process:

Have the items that were included
on the "items needed" list provided
by NCUA pulled and ready for the
exam team when they arrive. NCUA
examiners are required to provide
management with this important list
well in advance of the on-site field
work, and to tailor the list to what is
really needed for examining a particular credit union.
■■ Schedule regular update meetings with
the EIC - daily, if possible.
■■ Request that the EIC meet with the
board of directors following an exam
and provide timely feedback regarding
draft Documents of Resolution (DOR),
examiner findings, loan exceptions
and other documents related to
the exam.
■■

''

I definitely have seen improvement with the
knowledge level of the examiners. ... They all seem
to have an area of focus. So, when we have an exam,
we usually get 10-12 examiners, each with their own
specialty. I've also seen a better understanding of our
business and the world we're operating in.

''

- CINDY WANAMAKER, CHIEF OPERATIONS OFFICER AND EXECUTIVE VICE PRESIDENT,
FRANKLIN MINT FEDERAL CREDIT UNION
THE NAFCU JOURNAL  NOVEMBER-DECEMBER 2019

29



The NAFCU Journal November-December 2019

Table of Contents for the Digital Edition of The NAFCU Journal November-December 2019

The NAFCU Journal November-December 2019
Contents
Conferences
From the Chair
Washington and Industry Briefs
The Bottom Line
Welcome, New Members
Leading the Charge
Test for Success
Test for Success
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal November-December 2019 - The NAFCU Journal November-December 2019
The NAFCU Journal November-December 2019 - Cover2
The NAFCU Journal November-December 2019 - Contents
The NAFCU Journal November-December 2019 - 2
The NAFCU Journal November-December 2019 - Conferences
The NAFCU Journal November-December 2019 - From the Chair
The NAFCU Journal November-December 2019 - 5
The NAFCU Journal November-December 2019 - Washington and Industry Briefs
The NAFCU Journal November-December 2019 - 7
The NAFCU Journal November-December 2019 - The Bottom Line
The NAFCU Journal November-December 2019 - 9
The NAFCU Journal November-December 2019 - 10
The NAFCU Journal November-December 2019 - 11
The NAFCU Journal November-December 2019 - 12
The NAFCU Journal November-December 2019 - Welcome, New Members
The NAFCU Journal November-December 2019 - 14
The NAFCU Journal November-December 2019 - 15
The NAFCU Journal November-December 2019 - 16
The NAFCU Journal November-December 2019 - 17
The NAFCU Journal November-December 2019 - Leading the Charge
The NAFCU Journal November-December 2019 - 19
The NAFCU Journal November-December 2019 - 20
The NAFCU Journal November-December 2019 - 21
The NAFCU Journal November-December 2019 - 22
The NAFCU Journal November-December 2019 - 23
The NAFCU Journal November-December 2019 - 24
The NAFCU Journal November-December 2019 - 25
The NAFCU Journal November-December 2019 - Test for Success
The NAFCU Journal November-December 2019 - 27
The NAFCU Journal November-December 2019 - 28
The NAFCU Journal November-December 2019 - 29
The NAFCU Journal November-December 2019 - 30
The NAFCU Journal November-December 2019 - 31
The NAFCU Journal November-December 2019 - Test for Success
The NAFCU Journal November-December 2019 - 33
The NAFCU Journal November-December 2019 - 34
The NAFCU Journal November-December 2019 - 35
The NAFCU Journal November-December 2019 - 36
The NAFCU Journal November-December 2019 - 37
The NAFCU Journal November-December 2019 - 38
The NAFCU Journal November-December 2019 - 39
The NAFCU Journal November-December 2019 - Executive Spotlight
The NAFCU Journal November-December 2019 - 41
The NAFCU Journal November-December 2019 - Management Insight
The NAFCU Journal November-December 2019 - 43
The NAFCU Journal November-December 2019 - Compliance Central
The NAFCU Journal November-December 2019 - 45
The NAFCU Journal November-December 2019 - Inside NAFCU Services
The NAFCU Journal November-December 2019 - 47
The NAFCU Journal November-December 2019 - From the President’s Desk
The NAFCU Journal November-December 2019 - Cover3
The NAFCU Journal November-December 2019 - Cover4
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