Sageworks Bank & Credit Union Examination Survey Goes Live
RALEIGH, NC (May 21, 2013) Sageworks made available its new Bank & Credit Union Examination Survey to clients and other financial institutions this morning. The anonymous, 8-question survey allows financial institutions to share information on their most recent federal safety and soundness exam.
At the conclusion of the survey, the survey data will be anonymously aggregated and disseminated in a comprehensive report to help peer institutions prepare for their next OCC, FDIC, NCUA or Federal Reserve exams. All survey respondents will be the first to receive a copy of the comprehensive report and will be entered into a drawing to receive one of two $100 Visa gift cards.
While all U.S. banks and credit unions are required to undergo an examination every 12 to 18 months, the specific areas of focus of each exam can differ by agency, region, time period and the particular examiners involved, among other factors.
The Sageworks Bank & Credit Union Examination Survey provides banks and credit unions greater clarity into current, examiner expectations by allowing institutions to share information on the key areas discussed in their recent exam, positive and negative feedback received during their exams and insight into specific areas such as credit administration, the allowance for loan and lease losses and asset quality.
The brief survey also collects demographic information such as institution asset size and whether the OCC, FDIC, NCUA or Federal Reserve conducted the examination, in order to allow segmentation in the final report.
If you work in a financial institution that has undergone an examination in the last 12 months, you’re invited to fill out the 8-question survey now or, if it may be more relevant for someone else at your bank or credit union, share it with others.
Fill out the Sageworks Bank & Credit Union Examination Survey.
Sageworks is a financial information company that works with financial institutions, accountants and private-company executives across North America to collect and interpret financial information. With almost 700 financial institution clients in the U.S., Sageworks provides a web-based suite of solutions to streamline credit analysis, risk rating, portfolio stress testing, loan administration and ALLL estimation solutions. Sageworks’ risk management team of consultants also assists clients with the implementation of their ALLL Models. To find out more, visit www.sageworksanalyst.com.