A supervisory committee transformation
Tim Goblirsch named 2019 CUNA Supervisory Committee Member Award winner.
Tim Goblirsch, supervisory committee chair at $1.6 billion asset Fort Knox Federal Credit Union in Radcliff, Ky., received the CUNA Supervisory Committee Member Award during the 2019 CUNA Supervisory Committee & Internal Audit Conference.
Goblirsch has served on the committee for 10 years.
What was your reaction to winning the award?
Tim Goblirsch: I was definitely surprised. I did not expect this. It really recognizes the overall team at Fort Knox Federal Credit Union and the confidence the board gave to our committee.
How has the supervisory committee changed during your time there?
Goblirsch: The main thing I’ve seen is the professionalism, independence, and competence. There’s a little more engagement and the people are hands-on. We’ve moved from a group that was just taking in information to one that’s pushing a little more.
We also hired an internal auditor who was a CPA, and we've hired outside firms to do different tasks, whether it’s a business audit or an IT audit. We meet competently and confidently with examiners and auditors, and know the craft well enough to be more independent.
The committee has transformed from a traditional group to one that’s risk-based. Why was that necessary?
Goblirsch: The credit union has roughly doubled in size over the last decade, and there’s more exposure to digital financial transactions. We needed to get better and stronger from the standpoint of enterprise risk management. We needed to spend more time where the credit union’s risks really are.
We need to spend the 90 minutes we meet each month on the big stuff—the issues that are important to the institution. From a standpoint of enterprise risk management, we spend our time during the committee session on the issues that really matter to a large and growing credit union that’s trying to be the primary financial institution for an entire region of our state.
How did the transformation impact your role as a committee member?
Goblirsch: If you’re the chairperson versus a committee member, you’re much more engaged. You’re expected to know the terminology and engage with the management, staff, CEO, and outside parties.
How did the transformation benefit the credit union?
Goblirsch: It made us more confident to go into new areas of business, transform how we do our digital communication, and enter new markets.
As we're growing, we’re adding. We’ve been adding branches for the past 20 years.
We’re continuing to grow and expect to grow as Kentucky’s largest credit union. If we’re going to serve members in every area of their financial lives—whether it’s auto, home, or business lending, or an improved digital platform—we have to be stronger and test ourselves in the areas where there are risks.
We're growing as an institution and the committee has had to grow as well. We need to adapt and be nimble to deal with those challenges.
What’s your advice for new supervisory committee members?
Goblirsch: Do the basics. Learn about why this business is successful and why people choose us.
But the next level is seeking out information, whether it’s digging around the CUNA website, a personal finance magazine, or a blog entry.
Pour yourself into this and learn. Learn something new every week.