WASHINGTON — A panel of corporate credit unions during NCUA Vice Chairman Rodney Hood's Jan. 11 Risk Mitigation Summit advised attendees that everyone must be involved in enterprise risk management for it to work.
Missouri Corporate Credit Union has numerous checks and balances in place from daily liquidity tracking to a whistleblower policy to help managing its risk. "We still have a Credit Analysis Committee and that's a big help," President/CEO Dennis DeGroodt said.
The corporate recently won the Missouri Quality Award relating to risk management. DeGroodt explained that the criteria for the award really forces you to look at how much risk you are willing to take and how you will manage it.
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