COLUMBUS, Ohio – Corporate One Federal Credit Union, a leading provider of financial products and services to the credit union industry, announced that its second annual Enterprise Wide Risk Management (EWRM) Conference, scheduled for June 24-25 in Chicago, will feature a workshop on vendor risk management.
Highlights of the conference include remarks by NCUA Vice Chairman Rodney Hood and a hands-on workshop covering vendor risk management. Earlier this month, the NCUA published a letter to credit unions (08-CU-09) regarding the agency’s evaluations of credit unions’ vendor relationships. The letter references three elements of a risk management program: risk assessment and planning, effective due diligence, and risk measurement, monitoring and control.
“Managing vendor risk has become increasingly important in today’s business environment and is especially relevant for credit unions,” says Joseph Ghammashi, Corporate One’s chief risk officer. “It’s important to have a formalized risk management model that covers every process a credit union performs, including vendor management,” he added.
The conference/workshop is geared toward “C-level” executives (CEOs/CFOs/COOs/CROs) who are interested in learning more about EWRM, including why it has become critical for all businesses and how it can be used effectively at credit unions.
Other topics include the differences between EWRM and internal audit, IT security compromise and incident response, the legal risks of human resources, and conducting risk assessments.
Additional confirmed speakers include Ghammashi; Stephen Minsky, CEO/founder of Logic Manager; Joseph Herr, director of innovative services for Jefferson Wells; Jennifer Morrison, Corporate One’s vice president/senior risk manager; Karen Niederkohr, Corporate One’s staff attorney and compliance officer; and Bryan Fury, Corporate One’s AVP, technology and information security officer.
EWRM aggregates and organizes all processes and functions within an organization to better allow that organization to leverage its activities for the benefit of its customers/members, as well as to ensure that all risks are accounted for and properly evaluated. It is the governance process associated with the management of risk.
Corporate One Federal Credit Union is a leading wholesale financial services provider to more than 790 of America’s credit unions. With more than $4.2 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.
Contact: Paul Hixon, 800/282-2560 ext. 9313