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Overview
In this episode, we break down the fundamentals of risk management for credit unions — what it really means, why it matters at every asset size, and how boards and executives can build a resilient framework that supports safe, sustainable growth.
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What We Cover
- The Three Pillars of Risk Management
- Risk Culture — how tone from the top determines effectiveness.
- Risk Appetite — defining how much risk is acceptable before strategy becomes unsafe.
- Risk Management System — the controls, processes, and oversight that put culture and appetite into action.
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- Why Size Matters — and Doesn’t
- Practical guidance for smaller credit unions: clear limits, strong oversight, and effective supervisory committees.
- What larger credit unions need: formal risk appetite statements, risk departments, and comprehensive reporting frameworks.
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- Common Pitfalls
- The “capital trap”—why even strong net worth can’t compensate for unmanaged concentration risk (e.g., taxi medallion credit unions).
- Siloed risk decisions.
- Hoping limit breaches “self-correct.”
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- Best Practices for a Strong Framework
- Align appetite with capital and strategy.
- Use clear metrics to monitor risk.
- Establish formal limit-breach processes.
- Encourage staff to raise risk concerns without hesitation.
- Maintain strong documentation and communication.
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Key Takeaway
Risk management isn’t about eliminating risk — it’s about managing it in a way that protects members while enabling growth. A clear culture, aligned risk appetite, and well-designed system create the foundation for long-term success.
307 episodes
