Top five training needs for 2016
As you prepare for 2016, keep in mind the importance of continuing education and training. Training allows you to develop a holistic view of your entire organization, to see old issues with new perspectives and stay in-the-know on the top issues impacting your credit union.
My number one recommendation: Take the time to map out a training plan for yourself and your staff for the coming year. Allocate the time and resources that will ensure you stay updated on complicated regulatory changes as well new technology and business development opportunities.
As the director of education for NAFCU, I strive to ensure that our training not only fulfills basic needs, such as meeting NCUA’s training requirements and covering new rulemakings, but that it maintains a balance in meeting the top five training needs of today’s credit unions:
- Risk management. Your employees need to know what risk assessments are currently mandated by regulation and what best practices to institute. In this era of digital record keeping and cybersecurity challenges, you need to know what your risks are.
- Data and cyber security threats. The repeated massive data breaches suffered by retailers in recent years are too-frequent reminders that your members’ personal information might be at risk. Training can help credit unions know what threats are out there and how to combat them.
- Bank Secrecy Act compliance. As compliance officers know, there is no end of updates to track for BSA compliance. Compliance officers should avail themselves of the latest information about enforcement and other BSA-related topics.
- Board of directors’ needs. Your board plays an integral part in your credit union’s success. Training can help your board members fulfill their fiduciary roles and learn about how other boards have succeeded in various scenarios.
- Management and leadership. Credit union executives should always be on the lookout for new ways to grow membership and share of wallet. And as the job market rebounds, recruiting and retaining top talent is key. And it all starts with the leadership team. It’s easy training to neglect, but it’s arguably the most essential to your success.
There should always be time to take a step back and reevaluate your situation – and to learn from the experience and expertise of others. Training allows you to stay updated on what your members need and to glean inspiration and motivation from new ideas and strategies.
If you’re looking for a place to start, check out NAFCU’s Online Training Center for news about upcoming and archived webcasts. We cover those top five needs and more. Also, depending on your budget and ability to travel, we would welcome you at any of the highly rated conferences NAFCU puts on throughout the year, which offer invaluable regulatory and legislative updates and networking opportunities. I hope the coming year brings you many opportunities to pause and reassess in order to keep your credit union moving in the right direction.
