Design an effective supervisory committee

Your supervisory and audit committees are under increasing pressure. In many parts of the country, examiners have ramped up their review and expectations of the supervisory committee.

As credit unions have become more complex, it has become more challenging to keep up with regulations, product and service offerings, delivery systems, and security threats.

Some challenges we’ve observed during our interactions with boards and these committees:

• Recruitment. It’s not uncommon to see higher turnover among the committees, and it’s challenging to find and retain people who have the right aptitudes, skills, and desire to serve.

 

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