What is PolicySwap?
Need well-worded policies or examination advice? Learn how PolicySwap and ExamShare can help!
Credit unions are subject to a bewildering number of policies and regulations. In order to assist credit unions with managing their obligations, PolicySwap has been created to help simplify the compliance process and hopefully reduce the compliance cost burden for each institution.
PolicySwap is a collaborative website where CU*Answers clients can share policies and procedures with each other. Not sure what your BSA policy needs to say? Browse here and select a policy from your peers. Each policy is reviewed by the CU*Answers team for quality, to ensure you are receiving the best possible value for your time. Also, if you have policies you wish to share, remember that you can collect CollabRebate points that can be redeemed for cash. And if you have a regulatory exam coming up, check out ExamShare where you can review the latest news regarding examinations of your peers. PolicySwap and ExamShare are examples of the Power of the Network.
Disclaimer
No policy manual, however well-intentioned and followed, can guarantee that the credit union will pass every regulatory audit. In addition, changing conditions in the regulatory landscape may invalidate the policies and procedures of the credit union overnight. The credit union officers and directors have final responsibility for understanding the regulations and ensuring the credit union is in compliance with all laws and regulations that the financial institution is subject to.
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Need Concentration Risk Help?
Concentration Risk continues to be one of the leading concerns by regulatory bodies. Audit Link has put together the most comprehensive concentration risk analysis in the country. Let us help you develop your concentration segments, stress them against a number of variables to determine your risk to capital, and establish your Board approved policy. Audit Link has performed dozens of these engagements from coast to coast and is seen as an industry leader in the models derived to accomplish this daunting analysis.
It is not necessary that you are a CU*Answers client to obtain this service. Contact us today!
Need Policy Guidance?
Did you know that AuditLink can help you evaluate your existing policies and make recommendations?