Enterprise Risk Management (ERM) Training

During this training, Cindy Russell, CUCE, BSACS, CUERME and Rosemary Ondeck, CFSA, MBA will cover the following Enterprise Risk Management (ERM) topics: 

Why Enterprise Risk Management? How does all this Risk Stuff fit together?

• Every choice made by your Credit Union in the pursuit of your objectives has its risks 

Understanding ERM

• It is about questioning and challenging the way your Credit Union does business

 Risk Management Fundamentals

• Credit Unions are in the business of managing risk and while an ERM program does not replace this, it should lead to sharing of risk-related information

Risk Assessment and Risk Appetite

• Moving from your current risk model to your desired ERM culture

ERM Roles and Responsibilities

• An effective ERM process will create an environment where risk is embraced by all and allows the board and management to make strategic decisions

ERM Regulatory Environment

• An effective ERM program should proactively incorporate the risk concepts and messages delivered in NCUA letters to Credit Union

ERM and Strategic Planning

• ERM is tied to strategic planning with strategy and objective setting across the organization as the first step in the ERM process

ERM Reporting and Analysis

• Implementing ERM provides management with a tool to assess, prioritize, and monitor risk 

ERM Integration with Other Risk Functions

• ERM is applied across an entire organization and manages cross-enterprise risk. ERM enables an integrated response to multiple risks.