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Sageworks opens 2015 examination survey to credit unions
RALEIGH, NC (April 7, 2015) — Sageworks, a financial information company that provides credit risk management solutions to financial institutions, today announced that it has opened its biennial survey of banks and credit unions. Open to all financial institution professionals, the 2015 Bank & Credit Union Examination Survey focuses on the federal exam experience. The survey asks which areas of federal oversight received the most criticism for an individual institution, in hopes of better understanding how banks and credit unions in the U.S. are faring during their regular examinations. All responses are anonymous and confidential and will be complied into a comprehensive report to be released this summer.
Federal examinations often are a source of stress for bankers and credit union professionals. The survey speaks to a number of potential risk management pain points for financial institutions, including allowance for loan and lease losses (ALLL), credit analysis, loan review and others. Additionally, the survey breaks out the topic of stress testing, to gauge if there has been an increased pressure by examiners to stress the portfolio.
In 2013, Sageworks has released its survey findings exclusively from the Bank & Credit Union Examination Survey, with the assistance of 165 financial institutions. The 44-page report included recommendations that respondent banks and credit unions received during their federal exams during the previous 12 months. The survey findings were anonymously broken down by regulatory agency, with sections related to the OCC, FDIC, Federal Reserve, and the NCUA. Highlights include recommendations within the areas of credit administration and asset quality, ALLL, stress testing, management and compliance with federal banking regulations.
Bankers and credit union professionals can click here to access the survey. For additional risk management resources, or to learn more about the Sageworks suite of solutions, visit SageworksAnalyst.com.
About Sageworks
Sageworks is a financial information company that provides risk management, financial analysis and business valuation solutions to accounting firms and financial institutions. Visit www.sageworks.com to learn more.