Loan Product Risk Assessment Guide

The Risk Advisory Service Loan Product Risk Assessment Guide circulated recently provides a framework for conducting risk assessments for new credit union loan products as this is a key element of a Risk Management Officer’s role on an ongoing basis.  Risk assessing new loan product proposals is a vital part of a comprehensive, informed, decision-making process which, if completed correctly, should strengthen the outcome of the decision and clearly demonstrate good governance and management.

This guide takes the Risk Management Officer through the loan product risk assessment process step-by-step.  It provides a framework with which to develop the risk assessment by addressing each risk category which is materially affected by the proposal under consideration.   The guide takes the form of a range of questions to be asked and answered by the specific credit union under each relevant risk category.  This provides the basis for each credit union to consider the questions in the context of their own individual business model characteristics, financial performance and risk appetite.

The guide includes some examples of loan product-related risks which should be evaluated as part of the risk assessment process.  The same process can be used to assess a wide variety of loan products across a range of risks.  Also provided is a Loan Product Risk Assessment Checklist to facilitate the work of the Risk Management Officer to ensure that the important elements are considered during the course of each new loan product risk assessment.

To learn more about our Risk Advisory Service, get in touch or check out our webpage to learn more.

Recent News

Footprint Underwriting onboards CalQRisk for risk management and compliance

Footprint Underwriting, a leading underwriting agency in Ireland, has recently implemented the CalQRisk solution in order to enhance ...
Read More

Climate-Related & Environmental Risk Assessment Guide

A Climate & Environmental Risk Assessment Guide was issued to Risk Advisory Service subscribers in Dec 2023 following ...
Read More

Loan Product Risk Assessment Guide

The Risk Advisory Service Loan Product Risk Assessment Guide circulated recently provides a framework for conducting risk assessments ...
Read More

Risk Today – Strategic Planning

Last quarter’s Risk Today e-zine for CalQRisk’s Risk Advisory Service subscribers, focusses on how Risk Management Officers can ...
Read More

Learning Lessons from Incidents

All organisations experience “Incidents”. Some call them by other names: “Near Misses”, “Mistakes”, “Errors & Omissions”, “Operational Errors”.  ...
Read More

CalQRisk included on RegTech100 list for 2024

CalQRisk was named as part of the RegTech100 list for 2024. The RegTech100 is an annual list of ...
Read More

6 things you need to know about the Individual Accountability Framework (IAF)

The Central Bank of Ireland has recently released regulations and guidance on the Individual Accountability Framework (IAF). Here ...
Read More

Paysend chooses CalQRisk as their Risk Management Solution

Paysend, a next generation integrated global payment ecosystem, has recently implemented the CalQRisk solution in order to enhance ...
Read More

ESG and Sustainability Reporting

The practice of businesses promoting sustainability and social responsibility in their operations can be traced back to the ...
Read More

CalQRisk Wins Best RegTech Solution at National Fintech Awards

CalQRisk, a leading provider of Governance, Risk & Compliance solutions has won the ‘Best Regtech Solution Award’ at ...
Read More