CUNA Compliance & Risk Council announced the release of its inaugural white paper, “Changing the Risk Conversation,” which focuses on creating and maintaining an enterprise risk management (ERM) culture.

“Over the past several months we’ve had many conversations with compliance and risk executives on the importance of an Enterprise Risk Management (ERM) culture,” says Jared Ihrig, Chief Compliance Officer & Counsel at CUNA. “Developing a comprehensive ERM culture means that evaluating risk is part of every key conversation held within the credit union. This not only helps put credit unions in a better position to handle today’s complex regulatory and risk environment, but also prepares them for whatever the future may bring.”

The white paper explores the case for a shift to an ERM culture and offers strategies for making a transition or enhancing a current ERM program. Topics include:

• How to recognize the need for an ERM program and begin making cultural change
• Case studies from credit unions that have successfully implemented an ERM program
• Why it’s important to get organizational buy-in and develop relationships
• Best practices for nurturing an ERM culture
• ERM tools that can support risk decision-making
• How COVID-19 put a spotlight on ERM and changed the risk landscape

This white paper is now available for CUNA Councils members. Log in to read it here or join the CUNA Council related to your credit union discipline today to gain access.