Our perspective is that every business decision involves risk taking. The challenge is to make such decisions in an informed manner to ensure maximum benefit and no surprises.
Our outsourced “RMO” function is designed to assist with the identification and management of risk at both a strategic and operational level. The function commences with a series of interviews which leads to the communication of the credit union’s risk appetite and individual tolerances relating its risk register as laid out within the the Credit Union Handbook (Capital, Credit, Environmental, Governance, Liquidity, Market, Operational, and Strategic/Business Model risk).
We then work through these risks with the “risk owner” in populating the our industry specific risk register (CURMIS web application) to assist the directors and senior management in implementing a risk mitigation and management process to meet the agreed appetite. Finally, we establish risk monitoring and reporting procedures to ensure that the risks are being managed as intended going forward.
For more information on this service, please email us at email@example.com