NCRM NEW EXAM @ 2024 WITH CORRECT SOLUTIONS 100%
VERIFIED
FFIEC
The Federal Financial Institutions Examination Council is a formal United States
government interagency body that includes five banking regulators the Federal Reserve
Board of Governors FRB the Federal Deposit Insurance Corporation FDIC the Office of
the Comptroller OCC and NCUA and the CFPB.
CFPB
The CFPB is a regulatory agency charged with overseeing financial products and
services that are offered to consumers. In this regard, the CFPB writes and enforces
rules for financial institutions, examines both bank and nonbank financial institutions,
monitors and reports on markets, as well as collects and tracks consumer complaints.
Notably, the CFPB only has direct supervisory authority for credit unions that are 10
billion dollars or more in assets.
FINCEN
The Financial Crimes Enforcement Network is a bureau of the U.S. Department of the
Treasury charged with preventing and punishing criminals and criminal networks who
participate in money laundering. In particular, FinCEN issues guidance and regulations
implementing the Bank Secrecy Act.
NCUA
The National Credit Union Administration is an independent federal agency of the United
States government that regulates, charters and supervises FICUs. As a prudential
regulator, NCUA is responsible to manage risk to the National Share Insurance Fund
and thus is granted very wide discretion in determining whether FICUs operate in a safe
and sound manner.
State are regulated by?
State chartered credit unions also regulated by their state regulator, such as a
, Department of Financial Institutions or similar.
What type of exams does the NCUA use
Risk Based exams
CAMELS rating system
Capital Adequacy
Asset Quality
Management,
Earnings
Liquidity
Sensitivity to Market Risk.
CAMELS SCALE
1-5
3 things an exam must include
• Reviewing the accuracy of the 5300 Call Report data;
• Reviewing the supervisory committee audit; and
• Reviewing the credit union's compliance with the BSA.
Risk Management Program
Must be unique no one size fits all
Risk Impact
Risk is an uncertain future outcome that will improve or worsen your position. If one is
VERIFIED
FFIEC
The Federal Financial Institutions Examination Council is a formal United States
government interagency body that includes five banking regulators the Federal Reserve
Board of Governors FRB the Federal Deposit Insurance Corporation FDIC the Office of
the Comptroller OCC and NCUA and the CFPB.
CFPB
The CFPB is a regulatory agency charged with overseeing financial products and
services that are offered to consumers. In this regard, the CFPB writes and enforces
rules for financial institutions, examines both bank and nonbank financial institutions,
monitors and reports on markets, as well as collects and tracks consumer complaints.
Notably, the CFPB only has direct supervisory authority for credit unions that are 10
billion dollars or more in assets.
FINCEN
The Financial Crimes Enforcement Network is a bureau of the U.S. Department of the
Treasury charged with preventing and punishing criminals and criminal networks who
participate in money laundering. In particular, FinCEN issues guidance and regulations
implementing the Bank Secrecy Act.
NCUA
The National Credit Union Administration is an independent federal agency of the United
States government that regulates, charters and supervises FICUs. As a prudential
regulator, NCUA is responsible to manage risk to the National Share Insurance Fund
and thus is granted very wide discretion in determining whether FICUs operate in a safe
and sound manner.
State are regulated by?
State chartered credit unions also regulated by their state regulator, such as a
, Department of Financial Institutions or similar.
What type of exams does the NCUA use
Risk Based exams
CAMELS rating system
Capital Adequacy
Asset Quality
Management,
Earnings
Liquidity
Sensitivity to Market Risk.
CAMELS SCALE
1-5
3 things an exam must include
• Reviewing the accuracy of the 5300 Call Report data;
• Reviewing the supervisory committee audit; and
• Reviewing the credit union's compliance with the BSA.
Risk Management Program
Must be unique no one size fits all
Risk Impact
Risk is an uncertain future outcome that will improve or worsen your position. If one is
