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Neither regulation nor supervisory expectations require natural-person credit unions to implement an enterprise risk management (ERM) program. However, “NCUA views the absence of an adequate risk management framework (ERM or otherwise) consistent with an institution’s size, diversity, and depth of risk exposures as a failure in sound corporate governance, and expects examiners to take appropriate action consistent with the severity of the deficiency.”
Join us for the webinar, Emerging Need & Regulatory Expectations for Enterprise Risk Management Framework, on Wednesday, December 21, from 3:00 p.m. to 4:30 p.m., which will cover ERM methodology, how this methodology ties into strategic planning, and NCUA’s emphasis on sound credit union risk mitigation strategies.
For those participating in this webinar, you can expect to learn about:
- Compare NCUA’s recommended ERM framework with the Federal Reserve’s seven stages of the product life cycle (a resource-based analysis)
- High-level overview of the Internal Control-Integrated Framework as identified by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)
- Importance of aligning risk management with strategy
- Correlation between enterprise risk management and compliance
After participating in this webinar, attendees will receive: a NCUA Supervisory Letter No.: 13-12 on Enterprise Risk Management; COSO Executive Summary and Internal Control-Integrated Framework principles; Federal Reserve’s Second Quarter 2015 Consumer Compliance Outlook publication Managing Risk Throughout the Product Life Cycle; employee training log; and a quiz you can administer to measure staff learning and a separate answer key.
This webinar is offered through the League's partnership with the CU Webinar Network.
For more information or to register, please click here.