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Nội dung được cung cấp bởi Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc.. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
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Joint Statement on Banks’ Arrangements with Third Parties to Deliver Bank Deposit Products and Services

24:59
 
Chia sẻ
 

Manage episode 437874611 series 3543943
Nội dung được cung cấp bởi Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc.. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

www.marktreichel.com

https://www.linkedin.com/in/mark-treichel/


Key Points:

1. Federal banking agencies released a statement on potential risks of banks using third parties to deliver deposit products and services.

2. Highlights risk management practices for banks to consider when managing these arrangements.

3. Reemphasizes existing guidance; does not create new requirements or expectations.

4. Identifies potential risks in areas like:
- Operational and compliance issues
- Growth and liquidity management
- Misrepresentation of deposit insurance

5. Provides examples of effective risk management practices, including:
- Robust governance and third-party risk management
- Managing operational and compliance implications
- AML/CFT and sanctions compliance
- Managing growth, liquidity and capital impacts
- Addressing deposit insurance misrepresentations

6. Includes list of existing regulatory resources and guidance for banks to reference

Key Takeaways:
- Increasing use of third parties for deposit products raises potential risks
- Banks remain responsible for regulatory compliance even when using third parties
- Effective risk management and oversight is crucial as these arrangements evolve
- Banks should review existing guidance and ensure appropriate controls are in pla


Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!

We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.

Hire us and gain:

• Peace of mind during your exam process

• Insider knowledge of NCUA procedures and expectations

• Strategies to address potential issues before they become problems

• Continuous access to our extensive subject matter expertise

With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves flying colors in its next examination.

Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.

  continue reading

68 tập

Artwork
iconChia sẻ
 
Manage episode 437874611 series 3543943
Nội dung được cung cấp bởi Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc.. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

www.marktreichel.com

https://www.linkedin.com/in/mark-treichel/


Key Points:

1. Federal banking agencies released a statement on potential risks of banks using third parties to deliver deposit products and services.

2. Highlights risk management practices for banks to consider when managing these arrangements.

3. Reemphasizes existing guidance; does not create new requirements or expectations.

4. Identifies potential risks in areas like:
- Operational and compliance issues
- Growth and liquidity management
- Misrepresentation of deposit insurance

5. Provides examples of effective risk management practices, including:
- Robust governance and third-party risk management
- Managing operational and compliance implications
- AML/CFT and sanctions compliance
- Managing growth, liquidity and capital impacts
- Addressing deposit insurance misrepresentations

6. Includes list of existing regulatory resources and guidance for banks to reference

Key Takeaways:
- Increasing use of third parties for deposit products raises potential risks
- Banks remain responsible for regulatory compliance even when using third parties
- Effective risk management and oversight is crucial as these arrangements evolve
- Banks should review existing guidance and ensure appropriate controls are in pla


Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!

We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.

Hire us and gain:

• Peace of mind during your exam process

• Insider knowledge of NCUA procedures and expectations

• Strategies to address potential issues before they become problems

• Continuous access to our extensive subject matter expertise

With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves flying colors in its next examination.

Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.

  continue reading

68 tập

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