NCUA's priorities for ISE 2023

Empowering Credit Unions: Insights and Actions for NCUA’s 2023 Supervisory Priorities

In the ever-evolving financial industry, staying ahead of regulatory requirements and industry best practices is crucial for credit unions to protect member data, brand reputation, and growth targets. The National Credit Union Administration (NCUA) has recently released its priorities and areas of focus for the 2023 examinations, which include Interest Rate Risk, Credit Risk, and Information Security Risk. LogicManager, a trusted integrated risk management system, has responded to these priorities by introducing new content packages to help credit unions effectively navigate the NCUA 2023 examinations.

The Significance of the Information Security Examination (ISE 2023)

As the NCUA rolls out the Information Security Examination for Credit Unions of all asset ranges, we want you to be well-informed and prepared. The ISE was developed to assess credit unions' information security practices and procedures. Its main purpose is to ensure that credit unions have effective security measures. Examiners will evaluate various aspects of a credit union's information security program, such as risk management, data protection, access controls, incident response, and security awareness training. The examination process helps credit unions identify areas for improvement and enhance their overall information security posture.

Why is this important for you?

  • Protection of Member Data
  • Align with industry standards and best practices 
  • Proactive Risk Management 
  • Maintain Strong Reputation and Trust 
  • Continuous Improvement 

We highly encourage your credit union's active participation in the ISE 2023, as it can bolster your security defense and enhance overall resilience against cyber threats.

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LogicManager's Solutions for NCUA 2023 Supervisory Priorities

LogicManager is committed to assisting credit unions in effectively addressing the NCUA's 2023 Supervisory Priorities. Through content packages, expertise, and ongoing support, LogicManager provides tailored solutions for credit unions to tackle these priorities confidently. Let's explore some of the new risk assessment templates offered by LogicManager to help credit unions manage critical areas of concern:

Liquidity Risk Assessment Template

The Liquidity Risk Assessment template enables credit unions to assess and mitigate liquidity risks effectively. By adopting a structured approach, credit unions can maintain financial stability, meet regulatory requirements, and make informed decisions in today's dynamic business landscape.

Transaction Risk Assessment Template

The Transaction Risk Assessment template simplifies the process of identifying, analyzing, and addressing transaction-related risks. By leveraging this template, credit unions can maintain the integrity of their financial operations and protect against potential threats, ensuring trust and reliability for their members.

Consumer Financial Protection Risk Assessment Template

Consumer financial protection is a paramount concern for credit unions. LogicManager's template empowers credit unions to assess and mitigate these risks, effectively protecting customers' financial interests. Proactively addressing these risks builds trust, enhances reputation, and positions credit unions as reliable financial institutions.

Participate in the ISE 2023 with LogicManager's Support

LogicManager is committed to supporting credit unions in their preparation for the NCUA 2023 examinations. Our new content packages and solutions provide the necessary tools to address regulatory priorities, protect member data, and ensure sustainable growth. We strongly encourage active participation in the Information Security Examination (ISE 2023) to bolster security defenses and enhance resilience against cyber threats.

LogicManager continuously researches, improves, and creates new solutions to address evolving industry challenges and regulatory requirements. We strive to empower credit unions with the knowledge and resources needed to navigate the complex financial landscape and thrive in today's rapidly changing environment. Together, we can ensure a secure and prosperous future for your credit union and its valued members.