COLUMBUS, Ohio — Corporate One Federal Credit Union has taken its passion for enterprise wide risk management to the next logical level.
The corporate is looking for a few good people to be part of its recently chartered Credit Union Enterprise Wide Risk Management Society.
EWRM is the governance process associated with the management of risk. Given recent trends in the regulatory environment that indicate that financial institutions of all types may soon need to comply with some form of the Sarbanes-Oxley Act, EWRM helps credit unions formally manage their risks across their entire enterprise.
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According to Corporate One FCU's Paul Hixon, the success of the corporate's EWRM Conference held earlier this year revealed that the timing couldn't be better for this society.
"We realized that this is something we had expertise in and we got the feeling that this is an area that is burgeoning yet there was not an organized society in this field," said Hixon. "The risk management responsibility exists in credit unions but falls under different categories and titles so we thought it would be a great opportunity to take the reins on starting this."
With a mission to further educate credit union professionals and develop consensus around the discipline of enterprise wide risk management, the Credit Union EWRM Society has been incorporated as a 501(c)(6) organization and Corporate One has begun the process of establishing the founding board of directors.
"Our intent is to provide the capital and coordinate the human resources necessary to establish the society, with the goal of gifting it to the credit union movement," said Joe Ghammashi, vice president and chief risk officer for Corporate One. "Presently, we're developing a society Web site and we expect to develop a professional certification process in the future."
Hixon adds that the society's Web site is expected to serve as an information portal for risk management professionals in the credit union movement. Currently in the test phase, plans are underway for the Web site to include everything from job descriptions and salary evaluations of risk management professionals to educational information about EWRM.
"The Web site will be up and running soon, now we need credit union people that have a passion for this new area to come join and volunteer their time," said Hixon. "The ultimate goal is to turn this over to the credit union movement."
The founding board of directors will include up to nine professionals who are active in the credit union movement and focused on enterprise risk management.
Four founding members have already been named: Jerome R. Valco, president/CEO of The Ohio Educational Credit Union in Cleveland; Angela Calvert, executive director of Dallas-based ALM First Financial Advisors; Joseph Herr, director of strategic innovative solutions for Jefferson Wells in Brookfield, Wisconsin; and Ghammashi.
The society is accepting applicants for up to five remaining seats. Applicants should be willing to contribute to the growth of the society and will be expected to share their experience and expertise. The board is initially expected to meet in person once a year and hold virtual meetings at least each quarter.
Interested applicants should submit a r?(C)sum?(C) and cover letter for consideration to: Corporate One FCU, ATTN: Joseph Ghammashi, P.O. Box 2770, Columbus, OH 43216-2770.
Submissions must be received by November 30, 2007. Board members will be selected and notified by December 15, 2007.
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