Last quarter’s Risk Today e-zine for CalQRisk’s Risk Advisory Service subscribers, focusses on how Risk Management Officers can make a very positive contribution to the credit union’s strategic planning process. It looks at how involving risk management from the outset of strategic discussions supports timely awareness of issues which are likely to have a positive or negative impact on the credit union’s risk profile and minimises the tendency towards constant risk management ‘firefighting’. If risk management considerations are incorporated from the outset, the planning process usually runs more smoothly with less friction and often avoids the need to duplicate or even reverse some steps along the way.
This document discusses how appropriate engagement of the risk management function supports the development of project timelines which are more accurate and reliable and illustrates how the risk management function can demonstrate that it is part of the solution rather than part of the problem when it comes to achieving the credit union’s goals and objectives by embedding positive risk management in the decision-making processes of the credit union.
The e-zine outlines the regulatory context and includes a step-by-step guide to developing discussion papers to encourage engagement with the Strategic Planning Committee or Board of Directors on strategic issues.
The upcoming e-zine will focus on Volunteer Succession Planning.
To learn more about or sign up for our Risk Advisory Service, check out our dedicated web page.