A Day In The Life Of The NCUA Chairman
by Chairman Debbie Matz, NCUA
People often ask me, “How do you spend your typical day at NCUA?”
My answer is that there is no “typical day” at NCUA. That’s one of many reasons why I love this job!
In my experience as NCUA Chairman, no two days are the same; and there is never a dull moment.
Some days are spent flying across time zones to meet with credit union officials and NCUA field staff. Long security lines, stale airport meals and stop-and-go taxi rides are all part of my daily routine while traveling. They’re also opportunities to return urgent phone calls and e-mails whenever I have a free moment and a cell signal.
The demands of travel can be tiring. But as soon as I get to the meetings, I feel reenergized. Honest feedback and thoughtful ideas from credit union officials and NCUA field staff are always worth the trip. In fact, many of the regulatory relief actions and process improvements featured in last month’s column were inspired by suggestions I received during recent travel days.
Non-travel days are spent in NCUA’s Central Office in Alexandria, Va., with frequent visits to Washington, D.C. Days in and around our nation’s capital are stimulating in a different way. Each day involves intense discussions and critical decisions on a wide range of issues facing individual credit unions, the credit union system, and the global financial industry.
However, as many of you know, even when the calendar says the work day is done, it isn’t. The urgent phone calls and e-mails keep coming. As credit unions continue to recover from the most challenging financial crisis of our lifetimes, protecting safety and soundness is more than a full-time job. It’s practically 24/7. But I enjoy every minute of it!
So, to better answer the question of how I spend a “typical day” in the office, this calendar highlights some of my most frequent meetings and gives you an inside view:
| CHAIRMAN’S “TYPICAL” DAY IN THE OFFICE | |
| 8:00 a.m.Arrive at Office | Review e-mail, news clips, and briefing papers for the day’s meetings, while keeping the door open for “drop-in” staff meetings. Staff often need to walk in on a moment’s notice. The General Counsel, Executive Director, and Directors of Examination & Insurance and Public & Congressional Affairs are among my most frequent visitors. Rarely does a day go by without a congressional or media request for specific information, or receiving unexpected news about a credit union situation. |
| 9:00 a.m.Daily Strategy Meeting | Every morning, I meet with NCUA’s Executive Director, General Counsel, and my Chief of Staff. We discuss a wide range of issues. Some warrant immediate attention, such as an impending conservatorship. Others involve strategies for addressing industry issues and keeping the agency responsive to future changes in the industry. My Regulatory Modernization Initiative and Listening Sessions tour were originated at these morning meetings. In addition, we discuss personnel and organizational issues. |
| 10:00 a.m.Regional Director Briefing | Every quarter, each of NCUA’s five Regional Directors personally briefs me on the state of their region. We discuss each region’s troubled credit unions, strategies to resolve them, and any Board actions that may be needed. |
| 11:00 a.m.Board Meeting Briefing | You would be surprised to see all the thorough preparation behind each agenda item for an NCUA Board meeting. Each Board member receives private briefings from the staff who will be presenting. We thoroughly discuss comments from stakeholders, weighing pros and cons of alternate approaches. We review drafts of all documents to be placed in the Board meeting record. Whenever a change is made to a document, it is recirculated to each Board member. This process can involve multiple briefings and reviews, until each Board member has received all of the information he/she needs to make a decision on the initiative. |
| NoonLuncheon Meeting | Unfortunately, I often eat at my desk while reading briefing material. Frequently, I have lunch meetings with leaders of credit union trade groups, congressional staff, heads of other regulatory agencies, and NCUA staff. |
| 1:00 p.m.Staff Office Director | At least once each month I am briefed by the directors of each office at NCUA headquarters on their activities and any issues I need to be aware of as Chairman. Of course, just like at a credit union, issues that can’t be resolved at the staff level make their way to the Board for final decisions. |
| 2:00 p.m.Meeting with Other Regulators | Given that I am a member of the Financial Stability Oversight Council and chair the Federal Financial Institutions Examination Council, I frequently meet with my regulator colleagues to discuss mutual regulatory concerns and strategies for maintaining the safety and soundness of the U.S. financial system. I also meet regularly with the National Association of State Credit Union Supervisors to coordinate oversight and discuss the overall health of the credit union system. |
| 3:00 p.m.Meeting with Staff | Meetings with staff cover any number of issues: future Board items, supervision challenges, updating my Regulatory Modernization Initiative, internal matters, and planning for the future. |
| 4:00 p.m.Meeting with Credit Union Leaders | In addition to meetings with national trade groups, I often meet with groups of visiting state or even international delegations of credit union leaders. I always enjoy these discussions on pending and future issues, hearing what’s on the minds of credit union officials, and exchanging views on policy matters. |
| 6:00 p.m.Dinner Presentation | When it doesn’t conflict with my family schedule, I gladly accept speaking invitations from credit union groups organizing evening events in D.C. or Northern Virginia. What better way to complete my day! |
