ERM Perspectives
Wilkes Hardin, VP at WSECU talks Enterprise Risk Management
Aug 11, 2022
Wilkes Hardin, VP at WSECU shares insights on ERM program, risk appetite with the board. Discussions on climate change, ESG, and navigating ERM challenges. Importance of GRC software for risk assessments and proactive risk management. Fostering risk-taking mindset, trust in risk management for credit unions. Closing remarks on risk management practices and contact information provided for further discussions.
28:44
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Quick takeaways
- Integration of lending compliance within ERM program enhances risk oversight.
- Establishment of board risk appetite guidelines shifts risk perception to strategic value-driven decisions.
Deep dives
Evolution of ERM Program at Washington State Employees Credit Union
The ERM program at Washington State Employees Credit Union evolved from an Excel-based system with a narrow focus to a comprehensive, COSO standards-aligned program. The program, initiated in 2010, transitioned to GRC software automation and adopted the COSO framework to enhance risk management. This shift facilitated a focus on proactive risk management, aligning with business value creation.
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