The New York Credit Union Association’s compliance department is available to assist member credit unions with examination preparedness and other operational compliance-related issues. Beyond answering specific compliance questions from member credit unions, the Association’s compliance department can also provide enhanced and customized support to New York credit unions.
As a benefit of membership, Linda Bow, the Association’s director of compliance, is available to make visits to member credit unions and assist with a variety of compliance issues. Topics covered during the visits might include:
- exam preparedness or assistance;
- on-site training;
- policy updates and revisions;
- new product or program reviews; or
- risk assessment reviews and collaboration.
Frequently, credit unions will find they need enhanced contract-based compliance support as a result of these on-site visits. The Association’s compliance department can provide member credit unions with a range of enhanced, contract-based solutions, including:
- individualized, ongoing regulatory compliance training for staff (both remote and on-site);
- on-site visits for compliance reviews;
- policy updates and revisions (annual timing requirements for presentations to the board) and publishing changes with CU Policy Pro;
- regulatory change management;
- quarterly loan and or deposit reviews;
- new product or program reviews;
- ongoing risk assessment reviews and collaboration;
- exam assistance for findings and the implementation of processes and controls as corrective actions; and
- the review and/or development of a compliance management system.