Governance Best Practices for Credit Unions

Credit unions are facing an increasingly complex operating environment that demands more and more sophisticated corporate governance and management skills.   Changing regulatory requirements, increasing operational sophistication—especially in the technological areas like IT and mobile service delivery—and unexpected operational challenges like the Covid-19 Pandemic are occurring simultaneously and within an increasingly competitive market for credit unions.  This session will provide corporate governance training for credit union boards of directors and senior managers based on the latest best practices and regulatory guidance, including how well-managed credit unions understand how good “governance” is conceptually different from day-to-day “management” of the institution.   

WHY SHOULD YOU ATTEND?

Good corporate governance and management are key drivers of a credit union’s success, with the institution’s board of directors and senior managers having distinct but complementary roles, and the institution’s owners (i.e. its members) also playing a distinct and important role.   Board members of credit unions  and other financial institutions must understand their governance role and exercise sound judgment about their institution’s affairs so that they can establish the institution’s strategic objectives and values, set, and enforce lines of accountability, and ensure that senior management conducts appropriate oversight.  While the board of director’s role is to make strategic decisions, the institution’s senior management including its President/CEO, however, should be responsible for the day-to-day “management” of the organization such as directing staff and ensuring the fulfilment of operational duties and programs established by the board. 

AREA COVERED

• Corporate governance
• Fiduciary Duties
• Enterprise Risk Management

LEARNING OBJECTIVES

• Learn the specific governance roles of the three components of a banking institution: its management, its board of directors, and its owners (i.e. the shareholders or members).
• Better understand what prudential regulators are looking for when they examine your institution for “Management” quality (i.e. the “M” in “CAMELS”)
• Gain insights into principles and best practices that govern top board and senior management performance.

WHO WILL BENEFIT?

• Board Member
• CEO
• CFO
• COO
• CRO
• General Counsel
• CLO
• Compliance Officer