Tandem Blog

Succession planning is essential for credit unions to ensure smooth leadership transitions and maintain operational stability. With the recent NCUA Succession Planning Rule, all federally insured credit unions must have a formal succession plan. But how prepared are credit unions to meet this new requirement?
During a recent webinar about the new Succession Planning Rule, 70 credit unions participated in poll questions assessing credit unions' readiness and resulting in some key insights.

Federal banking agencies have emphasized that AI can be both beneficial and harmful, highlighting the need for careful use. Let’s look at some of the specific things that regulators have said about AI.

Model risk management is an evolving topic for community banks and credit unions. While models have been around for a long time, their prevalence in artificial intelligence (AI), machine learning (ML), and other software applications makes understanding and managing them more important than ever. Let’s dive into some frequently asked questions about model risk management.

On August 29, 2024, the FFIEC announced they would be sunsetting the Cybersecurity Assessment Tool (CAT) effective August 31, 2025. For the last ten years, the CAT has been a staple for many financial institutions’ cybersecurity programs. As a result, many institutions now face the question: “Which cybersecurity framework should I use?” Let’s talk about how to pick a cybersecurity framework.

A service level agreement (SLA) is a specific type of contract between a vendor and a business. It defines performance measures and compensation options for the times when a vendor can’t hold up their end of the bargain. Let’s dive into some specifics about what this looks like and what you (as a vendor manager who cares about information security) need to do about it.

The Farm Credit Administration (FCA) Cyber Risk Management final rule goes into effect on January 1, 2025. If you work for a farm credit institution, what does the final rule mean for you? Let’s find out.