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NCUA Issues 'Enterprise Risk Management Systems'
Thursday, November 14, 2013 6:45 AM

In an effort to clarify its supervisory expectations regarding credit unions’ risk management systems, the National Credit Union Administration has issued a Supervisory Letter, “Enterprise Risk Management.”

As NCUA Chairman Debbie Matz explains in the November letter, sound risk management is crucial to the ongoing success of any credit union. Matz notes that the examination process requires examiners to gauge the overall effectiveness of a credit union’s risk management process based on an evaluation of several components. She acknowledges that the approach taken to achieve effective risk management can vary from organization to organization.

Click here to access the letter.