COLUMBUS, Ohio — During Corporate One Federal Credit Union'sEnterprise Wide Risk Management Conference held April 30-May 2 inLas Vegas, NCUA Vice Chairman Rodney Hood stressed the need to lookat the big picture when it comes to risk.

He emphasized the importance of identifying the risks associatedwith credit unions' strategic initiatives and the necessity tomanage those risks to enhance credit union performance. “I firmlybelieve that enterprise risk management enables management toeffectively deal with uncertainty and associated risks andopportunities by enhancing a credit union's ability to buildmember-owner value,” Hood said.

Corporate One Chief Risk Officer Joseph Ghammashi providedattendees with an overview of EWRM and several risk managementframeworks, demonstrated the differences between compliance andEWRM, and discussed how an organization's EWRM processes can beused to govern risk taking and mitigation.

“Enterprise wide risk management goes well beyond compliance,”Corporate One President/CEO Lee Butke said of his corporate'sexperience adopting EWRM over the last couple of years. “Creditunions that employ EWRM improve their overall safety and soundnessand increase their efficiency across the entire organization.”

Corporate One's conference, a three-day summit on how creditunions can adopt enterprise wide risk management, also featuredformer House Financial Services Committee Chairman Michael Oxley;Joseph Herr, director of innovative services for Jefferson Wells, amanagement company focused on providing professional servicesrelated to risk management; and Stephen Minsky, CEO/founder ofLogic Manager, a leading provider of consulting services andconfigurable software solutions for EWRM.