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Operations Consulting

From Red to Black: Looking forward to fall board planning & trainings

Bill Rockeman, The League's Senior Consultant

With fall fast approaching and my schedule beginning to fill up with board planning sessions, I’ve begun making preparations to ensure those sessions go smoothly. If you haven’t begun to think about it, you should.


Order your copy of the 2011-’12 Credit Union Environmental Scan (E-Scan), which focuses on strategies to combat the difficult challenges the recession has created for credit unions. It is a great resource for strategic planning.


Let The League facilitate your credit union’s strategic planning session. Please contact me by Aug. 31 to schedule an appointment. While appointments will be accepted after that deadline, they will be based on availability.


Fall also means League Roundtables. There are several that are upcoming including the Compliance Roundtable, Sept. 13; the Mortgage Roundtable, Oct. 5; the Small Credit Union CEO Roundtable, Oct. 26; the Large Credit Union CEO Roundtable, Nov. 2-3; and the Midsize Credit Union CEO Roundtable, Nov. 10-11.


I’ll be speaking about board governance and financial literacy training for board members at the Small Credit Union CEO Roundtable, as well as at the Directors’ Conference, Oct. 28-29. I hope to see some familiar faces at both sessions!


Exam issues continue to be a hot topic in credit union land. Here are just some of the things I’ve heard recently that examiners are specifically looking for.


  • Due diligence. They’re looking to see that there are systems and policies in place to monitor new programs and potential risk levels.


  • Bond coverage. They’re checking whether yours meets NCUA regulations.


  • Bank Secrecy Act (BSA). They’ll want to know if you’ve done BSA audits and independent testing.



  • Policies. They’ll check to see whether your staff is following them.


  • Employee fraud. Something that has become more common, examiners are checking for internal controls to catch fake loans and fraudulent corporate credit card usage.


Also, while Documents of Resolution are nothing new, thanks to the economy they have become more prevalent. It’s important to take DORs and Letters of Understanding seriously. A 2010 Compliance Courier outlines the steps credit unions should take to negotiate the process of dealing with them.


Regulatory changes aren’t slowing down any time soon. If your credit union needs a little help keeping up it might be time to take a look at The League’s Compliance Specialist Program. The program can provide as little or as much help as your credit union needs. Contact Jo Whiting, The League’s Executive Vice President, at (800) 242-0833, Ext. 6044, for more information.


The League has also created a Regulatory Advocacy Council to help address the ongoing changes and help us provide more comprehensive comments on proposed and new regulations. While the Council will provide insights for the comments, any and all credit unions are welcome to provide The League with input.


For more information on anything covered in this column, contact me at (262) 751-3420.

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