COLUMBUS, Ohio – During remarks at Corporate One Federal Credit Union’s Enterprise Wide Risk Management (EWRM) Conference held April 30 – May 2 in Las Vegas, Nevada, National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood emphasized the importance of identifying the risks associated with credit unions’ strategic initiatives and the necessity to manage those risks to enhance credit union performance.
“I firmly believe that enterprise risk management enables management to effectively deal with uncertainty and associated risks and opportunities by enhancing a credit union’s ability to build member-owner value,” said Hood.
Corporate One Chief Risk Officer Joseph Ghammashi provided attendees with an overview of EWRM and several risk management frameworks, outlined the differences between compliance and EWRM, and discussed how an organization’s EWRM processes can be used to govern risk taking and mitigation.
Lee Butke, president/CEO of Corporate One, shared Corporate One’s own experience adopting EWRM over the last couple of years in a detailed case study.
“Enterprise wide risk management goes well beyond compliance,” said Butke. “Credit unions that employ EWRM improve their overall safety and soundness and increase their efficiency across the entire organization,” he added.
Hood thanked Butke for Corporate One’s leadership in hosting the conference.
“I am very pleased to see the impressive array of speakers and subject matter experts you have assembled for this conference,” Hood said.
Corporate One’s conference, a three-day summit on how credit unions can adopt enterprise wide risk management, also featured former U.S. Congressman Michael Oxley; Joseph Herr, director of innovative services for Jefferson Wells, a management company focused on providing professional services related to risk management; and Stephen Minsky, CEO/founder of Logic Manager, a leading provider of consulting services and configurable software solutions for EWRM.
Corporate One Federal Credit Union is a leading wholesale financial services provider to more than 780 of America’s credit unions. With more than $4.3 billion in assets under management, Corporate One offers correspondent services including ATM/debit cards, share draft imaging, and depository and electronic payment services to credit unions in Ohio, Indiana, Kentucky, and West Virginia, as well as investment solutions to credit unions across the United States. Corporate One also developed and manages Alliance One, one of the nation’s largest non-network-specific ATM selective-surcharging groups. For more information, visit www.corporateone.coop.