Cover page of the 2021 NCUA Annual Report.
In its annual letter, included in the NCUA's 2021 Annual Report, the agency's Office of Inspector General (IG) laid out what it sees as the highest priority of management and performance challenges facing the NCUA in 2022.
Included in the March 4 letter were seven challenges "based on our past and ongoing work; our knowledge of the NCUA's programs and operations; and information from the U.S. Government Accountability Office and NCUA management and staff." The seven challenges included:
- Economic Outlook in a Pandemic Environment
- Cybersecurity and IT Governance – Protecting Systems and Data
- Risks Posed by Third-Party Service Providers
- Managing Interest Rate Risk and Liquidity Risk
- Industry Consolidation and Challenges Facing Small Credit Unions
- Supporting Diversity in the Credit Union Industry
- Human Capital and Planning for the Future Workforce
According to the IG report, three challenges were new to the list: Ensuring readiness in a pandemic environment, supporting diversity in the credit union industry and managing human resources.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
