March 7, 2014 – Credit
unions that tuned into NAFCU’s webcast
yesterday were taught the basic components of enterprise risk management and
how they can build and operate their own program to achieve their organizations’
Webcast speaker Anthony Ferris, managing partner of The Rochdale Group, talked about how ERM
programs add value to a credit union by helping leadership take a
proactive approach in identifying and addressing risks and opportunities. “Risk-return
goes hand in hand. The more risk we take, the more return we get,” said Ferris.
He also spoke about
how credit unions are significantly behind in implementing these efficient ERM programs,
but “we are catching up rapidly.”
Since ERM differs
from normal risk management, an overview of what ERM is not – an audit tool, a simple
compliance tool, or checklist tool – was also discussed.
The webcast, “Enterprise Risk Management (ERM) – Practical Ways to Implement at Your Credit Union” was
moderated by NAFCU Regulatory Compliance Counsel Brandy Bruyere. It will remain
for one year past the broadcast date.