ALEXANDRIA, Va. — NCUA Vice Chairman Rodney Hood is not far from announcing a date for his Risk Mitigation Summit, a timely topic in the current economic environment.
The event will take place either late this year or early in 2007, which is really hinging on the invited keynoter, whom he did not disclose. The location will be Washington, D.C.; the vice chairman is currently looking at the U.S. Chamber of Commerce. Attendance will be limited to 150 credit unions, but transcripts will be prepared for those who are unable to attend.
"I am going to be convening a summit for the credit union system to talk about effective and future trends in risk management," Hood explained. He emphasized that the summit was not prompted by concerns he has about credit unions. "The credit union system has never been more vibrant and more robust," he said.
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"I, however, wanted to convene a risk-mitigation summit to look at things like what would be trends in balance sheet management in the future? What would be trends in looking at different product types in the future? And again, looking at what can be done to position credit unions to continue to meet the needs to the 85 million members who depend on them everyday."
Panel discussions will include representatives from the Federal Reserve Board, Treasury, corporate credit unions and the ratings agencies; the vice chairman is also awaiting confirmation from his prospective keynote speaker who will provide global overview on risk mitigation and risk management.
"This is meant to be a positive exchange and, again, sharing information with folks to keep them successful and also encourage them to think about the future," Hood said.
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