DENVER–Tim Segerson, deputy director for examination and insurance at NCUA, offered a two-hour overview here during the NASCUS/CUNA Cybersecurity Symposium on how the agency plans to incorporate the new FFIEC “cyber-assessment” tool into its exam procedures.
Segerson told the meeting the agency expects a 12-month Industry Implementation of the tool, and would continue national outreach efforts through the end of March, 2016. He said no formal exam or evaluation of credit unions through use of the tool would begin until June, 2016, according to NASCUS.