Trailblazers 40 Below: VP Scott Assembles the Risk Management Puzzle
Believe it or not, risk management is fun for Kristen Scott, vice president of enterprise risk management at Telhio Credit Union.
If Scott had her way, every credit union would take the time to look at their vision and overall business strategy through the lens of enterprise risk management. Given her title some may say she’s biased, but Scott has likened it to finding and matching the right puzzle pieces to see the big picture more clearly.
Once she had a firm grasp of what each department does, Scott began shifting the focus from individual departmental reports to a more holistic approach of how they work together.
“It was about shifting into more of a ‘how does what I do affect everyone else’ mindset,” said Scott. “One big thing we did was a reporting project board to have a clear picture of every report submitted to the board and senior management. The first thing we noticed was how much duplication there was and how much we could save if we organized it all in a way that made sense. So it would not just be accounts or loan reports but categorizing the information by how it relates to different areas in the credit union as a whole. What started happening is that it has built a greater sense of camaraderie as everyone has a greater understanding of the whys behind sending a particular report monthly. There’s also a greater sense of pride because everyone sees how what they do really matters and ties back to Telhio’s goals and mission.”