Newsroom

October 20, 2016

MLI Day 4: Millennials, compliance risk, employee engagement

Defining career paths, working with millennials, understanding and managing compliance risk and engaging employees were topics discussed by credit union leaders Thursday during NAFCU's Management and Leadership Institute program in Annapolis.

Peter Myers, senior vice president of DDJ Myers, discussed with credit union leaders the importance of career development, including succession planning. Touching on résumés, Myers said these should communicate three things: where you've been, your game plan and playbook, and how well you performed. Most importantly, he said, a résumé has to reflect relevant qualifications of the desired future job.

Jennifer Kuhn, facilitator/speaker and program manager of Jennifer Kuhn LLC, led a presentation on working with millennials, who she defined as those born between 1982 and the early 2000s. As far as communicating with millennials, Kuhn said they prefer digital technology, collaboration, coaching, positivity; and they don't appreciate unfairness and condescension.

Kuhn also led a discussion on employee engagement. She cited a recent Gallup poll showing only 30 percent of all U.S. employees – and a mere 13 percent of workers worldwide – are engaged in their jobs. She noted the importance of knowing your employees and making sure they are in the right positions.

Anthony Demangone, NAFCU's executive vice president and COO, led attendees through a talk on understanding and managing compliance risk. He covered NCUA's view of risk management and noted the various sources of compliance risk, including filings, advertising, member complaints and investments. He also went over how credit unions can measure their compliance risk.

MLI group project
MLI attendees work together on their presentations that will be delivered today. (NAFCU photo)

Rodney Showmar, president and CEO of Arkansas Federal Credit Union, and Annette Zimmerman, president and CEO of Primeway Federal Credit Union, provided a glimpse into the world of a credit union CEO. They discussed how being a CEO requires thinking strategically and considering the current economic, legislative and regulatory environments.

Today, the final day of this year's Management and Leadership Institute, credit union leaders will present the case studies they've worked on throughout the week. Institute attendees broke into groups Monday and were given about two hours to work through the material learned each day in order to make recommendations for their fictional credit union's future and then relate that information to specific real-world situations.

During today's presentations, Institute faculty will evaluate the groups' successes, offer recommendations and challenge them with questions and what-if scenarios.

Next year's Management and Leadership Institute is Oct. 2-6 in San Diego, Calif. Reserve your spot now.