Managing Risk and Compliance Solutions Speaker Resources

Jump to:

Reopening the Branch / Safety & Security / Workplace of Tomorrow

Yesterday’s “branch of the future” plan likely looks a lot different than todays. In fact, COVID-19 has led to a quicker adoption of credit union’s plans that may have been looking ahead to embrace digital technology, remote work, and branch configuration. Now you must add office hygiene and health-conscious messaging to prepping the branch, staff, and members.

Return-to-Work & Employment Practices

With state mandates lifting in the coming weeks and months, credit unions need to be aware of emerging risks and liabilities associated with hiring, re-hiring and re-acclimating telecommuting employees into physical work locations with COVID-19 related risks. Workplace claims might begin surfacing like negligent supervision / management claims centering on safety. Wrongful termination charges related to whistleblowing and safety conditions; discrimination claims relating to hiring or re-hiring; and disability accommodations. These potential liabilities will increase substantially as more workers return to work and are exposed to the virus; refuse to return to work for health and/or safety reasons; or file claims related to recently passed federal and state statutes.

Stronger Together: COVID-19 Responses for Credit Union Lending

As we think about the impact of the coronavirus and how it will shift the way credit business is done, what are risks that credit unions should be concerned about as we define the “new normal”? To be truly forward-thinking and strategic, credit unions should consider short-term and long-term strategies that members need to survive beyond the crisis and into recovery.

Best practices for a Compliant Collections Program

The debt collection process for credit unions has been the same for years. But as channel preferences change and circumstances evolve, the collection process must be able to learn, grow and adapt over time using business intelligence and modeling to support a more strategic and profitable point of view by focusing on the entire lifecycle value of a member relationship.

Prepare for the Unthinkable: Employee Safety & Active Shooter Incidents

Tragic events in our communities involving workplace safety and physical security are forcing organizations of all types to prepare for unthinkable situations. The reality is that it can happen anywhere – on or near schools, campuses, military bases, and even at your credit union branches. Unfortunate and traumatic events related to robberies and active shooter incidents are unpredictable and evolve quickly. This session will share important components related to credit union and staff preparation, planning and training. In addition, discussion regarding internal controls, technologies, and action steps to consider will be introduced.

Risks as You Grow: Emerging Risks

Handling emerging risks is not an easy task. You must be sure that you’re not doing something that could put your long-term viability in jeopardy by asking yourself if there’s a new level of scrutiny that your organization now needs to apply. This can be even tougher as you grow in assets, geographically, employee size, functions, processes, and within your membership base…because more eyes are on you. This session will introduce the latest emerging risks helping you to get even more strategic with your risk decisions.

Board of Directors Oversight

The responsibilities of a credit union director are immense and growing more complex every day. These broad responsibilities are couched around the obligation to promote the best interests of the credit union and its members. As a director, you should be well informed with the credit union’s business and how to provide competent oversight in an expedient and knowledgeable manner on relevant best practices, challenges, and risks.

The Digital Imperative and Industry Disruption – A Lending Focus

Digitization is about adapting to compete in an increasingly digital world. Credit unions are as diverse as their members and are faced with finding ways to maximize success by embracing the lending landscape. Fintech competition and digital technology are forcing this change. The traditional consumer and real estate lending processes have just about become obsolete in terms of efficiency and access to members. Success in the digital landscape depends on your ability to eliminate friction, minimize risks, and provide efficiency and consistency across all channels.

Fraud & Scams: The Human Factor

Fraudsters are crafty, knowing how to pressure your employees and your members to make decisions on the spot by using innovative schemes. Their multi-channel approach looks for victims who find their stories convincing and will willingly share sensitive information, which can be used to authorize and perform many types of transactions. Unfortunately, the fraudulent transaction is often a legit exchange based upon a fairy tale.

Cards / Payment Trends & Risks

The payments landscape is changing fast. And, one of the biggest challenges today is for you to meet your members’ fast, convenient, and secure payment experiences. Navigating the rapid changes in payments can also lead to fraud and risk related to cards, ATMs, and alternative payments. Learn about emerging payment risks and mitigation tips helping you balance the risk and reward for your members and credit union.

ACH/Funds Transfer Transactions & Risk

Losses from ACH and funds transfer transactions due to fraud as well as the improper handling are a growing concern. These losses typically occur due to a lack of controls. It is critical for credit unions offering ACH origination to members, both consumers and businesses, to understand the risks in order to develop prudent loss control policies and procedures.

Synthetic Identities and Lending Fraud

Real identities are permanent, but fake identities can be created, used and then discarded in as little as a few minutes. Synthetic identity fraud is the fastest-growing type of financial crime in the U.S. and is estimated to account for 10-15 percent of charge-offs in a typical unsecured lending portfolio (McKinsey & Company, January 2019). Loan fraud is challenging to detect and prevent because the fraudsters’ methods, behaviors, and outcomes are so diverse. Arm your credit union with knowledge to help detect these schemes to minimize your exposure.

Cybersecurity: A Dynamic Risk to Manage

Cybersecurity governance is a dynamic risk area requiring you to adapt and adjust priorities accordingly. It is not just an IT problem. With so much at stake, cybersecurity must be a top-tier risk that receives the full attention at your credit union to ensure that your cybersecurity roadmap connects with your credit union’s goals and objectives. Hear how you should prepare, plan, and manage risks in a world of digital ransoms, fraudsters, data robbers, and hard realities.

Instilling a Culture of Safety First

Workplace safety starts with a strong safety culture. Effective leadership and employee engagement are critical. And, with changes in today’s environment, the need for credit union employees to exercise caution should be constantly reinforced. Additionally, a focus on workplace safety – whether it involves robbery, office hazards, or active shooter/assailant incidents - demonstrates your commitment to keeping your employees safe, secure, and even helping make them more productive and happier at work.

The Vulnerability of Mobile Devices

With more than 50% of all Internet traffic coming from mobile devices, it’s no surprise that attackers have turned their attention to mobile employees, less secure apps, and mobile devices as the next frontier of fraud. Corporate devices hold a vast array of data for attackers to target - member lists, financial details, employee personal data, account info and more. Ultimately, the compromise of a mobile device can be just as great of a risk to your member data, intellectual property and core systems of your credit union.

Employer Risks, Rights & Obligations

As an employer, you must exercise caution with changes in the workplace to ensure fair accommodations of your employees and potential employees. In fact, employment practice liability losses make up almost 50% of claim dollars paid within the Management and Professional Liability Policy over the last 5 years according to CUNA Mutual Group. With new laws and responsibilities making it clear that treating all employees fairly and equitably is important, it’s critical to know your risks, rights, and obligations.