Presenter: Joseph A. Zito, CPA, MBA - Director, Financial Institutions Group, Audit & Assurance Services
CPE: 1.0 auditing and accounting
Most financial institutions are very good at analyzing and evaluating individual risks and exposures, but are usually not as focused on monitoring and measuring how various business units interact and impact each other as well as the institution as a whole. The recent economic crisis, along with financial reform has regulators recommending financial institutions implement an enterprise risk management (ERM) program.
This session will shed light on the myths and mysteries associated with ERM and provide you with the tools your institution needs to implement ERM including:
- Understanding of enterprise risk management and its components
- The benefits of utilizing enterprise risk management for your credit union
- Establishment of the risk identification process
- Methods for identifying and quantifying risks in major functional areas
- What is your role and responsibilities in the enterprise risk management process
- Examples of a credit union’s risk profile and how to manage it
Enterprise risk management is an integrated risk management program that is designed to identify, analyze, monitor, and address environmental risks your institution faces in its day to day operations. Some of the benefits of ERM are:
- Better communication to assess and manage risks.
- Timely identification and correction of issues.
- Assistance in impacting the financial institutions bottom line performance.
Who Should Attend: Executive Management, Board of Directors, Audit Committee, Risk Managers, and Internal Auditors.
No comments:
New comments are not allowed.