The NCUA on ERM: Separating Facts From Fiction
NCUA requires that corporate credit unions implement formal Enterprise Risk Management (ERM) programs. However, according to Larry Fazio, NCUA’s Office of Examination and Insurance Director, the agency does not require all natural person credit unions to implement ERM programs. However, the key is in the word “all”. NCUA may require individual credit unions to adopt ERM-like programs based on specific factors and examiners might use ERM-like techniques to evaluate your credit union in your next exam. [4/16]
