Enterprise Risk Management: The Roles of the Board & Supervisory Committee

Credit unions and the financial marketplace are more complex than ever before. In addition, business cycles and economic conditions seem to be changing faster than ever. On top of that, the world is conducting financial business electronically and those channels are very vulnerable. What are your board and management team doing about these risks?

While directors and Supervisory Committee members are not expected to be experts in risk analysis, they are expected to be aware of and monitor key risks. Many are adopting a comprehensive risk approach called enterprise risk management (ERM). This is not just one more audit or an issue that will go away next week. It is a sensible way to systematically understand and monitor various risks. Instead of putting out fires when they arise, your credit union knows and watches all predictable risks.

This session will explain ERM in simple, easy-to-understand terms and concepts. It will address the risks your credit union has, systems to monitor them, and reports that can keep the board, Supervisory Committee, and management team updated.

Recorded Thursday, March 12, 2015


  • Eight common risks in credit unions
  • Three responses for each risk
  • Aligning your credit union’s strategy and risk appetite
  • What NCUA and the regulators want you to do regarding risks
  • Ideas on how to develop an ERM approach
  • Develop a governance policy on risk management
    • Sample risk dashboard for management to prepare and present to the board and Supervisory Committee
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key


This informative session is designed for experienced and new board members, Supervisory Committee members, CEOs, senior staff, ALCO members, risk management team members, and others with management or oversight roles.

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