September 1, 2016 - 1:19pm
#1
I'm curious about how often your management presents information on vendor management to your board.
The NCUA guidance I've seen says that there needs to be a report "regularly" but that is always open-ended. Do you do it annually? Is there any other authoritative guidance or best practice that gives a more specific timeframe?
My credit union is currently doing it every two years. I'm trying to determine whether this is something that should change.
