Build tomorrow’s supervisory committee: 6 directives
Focus on enterprise risk management and trust, and ask the right questions.
Credit union supervisory committees operate within an increasingly complex environment as financial services continue to evolve, says Michael Daigneault, CEO/co-founder at Quantum Governance.
During the 2022 CUNA Supervisory and Audit Committee Conference, he offered six directives to shape the supervisory committee of the future:
1. Understand the committee’s role as a governing partner in the modern credit union governing structure. Credit unions are governed by three bodies: management, the board, and the supervisory committee.
“Governance deals with the legitimate distribution of authority throughout a system, whether it’s a country or a credit union,” he says. “The supervisory committee’s role is to make sure the board is doing its job.”
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