Credit union enterprise risk management programs to date largely have focused on operational internal controls, but proper ERM goes farther than that. Among other things, it also must consider a credit union’s risk appetite. The importance of risk appetite has multiplied in light of several developments, such as the opening up of credit union charters to a greater variety of members and the scrutiny by examiners of how credit unions define their risk appetites. If a credit union has not defined its risk appetite, it has not identified the amount of risk it is willing and able to assume. Credit unions can follow a four-step road map to help incorporate risk appetite, tolerance and limits in their ERM structure.

The Risk Appetite Road Map

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