Addressing risk jointly

'Adding Emotional Intelligence to Enterprise Risk Management' white paper published

May 6, 2021

CUNA Compliance & Risk Council announced a new white paper, “Adding Emotional Intelligence to Enterprise Risk Management.”

In the high-stakes business of enterprise risk management (ERM), emotional intelligence (EQ) describes the art of getting things done by maximizing support and minimizing opposition.

“EQ is critical in business,” states Brandi Stankovic, Ed.D., Chief Operations Officer (COO) and Chief Strategic Officer (CSO) at CU Solutions Group in her white paper segment. “EQ is the ability to recognize and understand your own emotions and your impact on others.”

The white paper shares how credit union ERM leaders apply EQ skills to:

  • Improve decision-making;
  • Listen to alternative viewpoints;
  • Resolve conflict and overcome resistance to change;
  • Enhance focus; and
  • Strengthen communication.

“ERM leaders should invest in improving EQ because it has the potential to enhance strategic, operational, and reputation risk by focusing on self-assessment (leading yourself), relationships management (leading others), and leadership management (leading through a situation),” explains Jackie Gilbert, Senior Vice President, Enterprise Risk Management at Suncoast Credit Union, in the white paper. “When ERM leaders fully embrace EQ, it means they have an increased capacity for insight, which is critical for leaders in risk management who deal with constant change.”

The white paper includes examples, tips and tactics shared by EQ experts and credit union leaders including insights for building self-awareness of EQ; applying EQ skills when emotions are running high; encouraging staff to work toward higher EQ; and building credibility for ERM by building relationships throughout the credit union.

“EQ is an important component of any successful credit union team, including ERM,” states Chief Risk Officer for Xceed Financial Federal Credit Union, Fabiana Burkett, a white paper contributor. “Investing in EQ not only reduces risk, but also promotes growth.”

CUNA Council members are eligible to receive complimentary copies of this white paper, and hundreds of others. The paper is available online in the Resources section of Employees of CUNA member credit unions involved in setting their organization’s compliance and risk strategy can join today to gain access.