Managing interest-rate risk and liquidity risk heads the list of five top management and performance challenges in 2023 identified for the National Credit Union Administration (NCUA) by its inspector general.
In all, the NCUA Office of Inspector General (OIG) said it identified these top challenges for the agency over the coming year:
- Managing Interest Rate Risk and Liquidity Risk
- Cybersecurity and IT Governance – Protecting Systems and Data
- Risks Posed by Third-Party Service Providers
- Industry Consolidation and Challenges Facing Small Credit Unions
- Supporting Diversity in the Credit Union Industry
In a Feb. 8 report posted on the agency’s website, the OIG said it identified these challenges based on the office’s past and ongoing work; knowledge of the agency’s programs and operations; and information from the Government Accountability Office (GAO) and the agency’s own management and staff.
“In determining whether to identify an issue as a challenge, we consider its significance in relation to the NCUA’s mission, its susceptibility to fraud, waste, or abuse, and the NCUA’s progress in addressing the challenge,” it wrote.
For full details, see the OIG report.