|
Distance Learning for Directors
New NCUA Regulation 701.4 (b)(3) requires directors to understand balance sheets and income statements. As a board member, you have an obligation to know and understand how your credit union performs financially. In today’s demanding environment, it is not enough to come to meetings and trust that other board members understand the financial statements and ratios; or that if something is amiss, the CEO will let you know. Each director, regardless of background, has an obligation to understand the credit union’s financial condition. This session will help you understand what balance sheets and income statements really mean. Important ratios which should be monitored during the course of the year will be covered. You will also gain a deeper understanding of the relationship between profit and capital, and why both are important. HIGHLIGHTS
Under the new NCUA Regulation 701.4 (b)(3) board members are required to understand their credit union’s balance sheet and income statement and “be able to ask appropriate, substantive questions of management.” Directors should be aware of their credit union’s basic financial condition without relying on explanations from auditors, regulators, other board members, or staff members. This fun and interesting course will help directors understand key ratios and their origination and meaning.
March 16: Director Training Series I: Reading a Balance Sheet Understanding the components of your credit union’s balance sheet is an integral part of being an effective board member. Former NCUA Chairman and credit union CEO Dennis Dollar will lead participants through a comprehensive analysis of a credit union balance sheet. With no aspect of a director’s fiduciary duty being highlighted more in this post-Sarbanes-Oxley, post-corporate crisis age than the Board’s financial accountability obligations, this presentation will enable directors to ask the right questions of management based on the financial numbers presented to them. March 30: Required Compliance Training for the Board & Senior Management Examiners’ focus during compliance examinations has been on the administrative strength of the program. Recent enforcement actions prove that an effective program begins at the top, with board and management training being a key element to establishing and maintaining a strong compliance program. A recent compliance exam report for an institution that did not fare well stated at least a dozen times, “This violation is attributed to inadequate Board and Senior Management oversight, policies, and monitoring procedures.” Now is your chance to hear specific examples of what the examiners were expecting from the board. Join us to learn and understand your responsibilities and liabilities before an examiner is at your door! High-risk areas will be addressed in lay terms, with the board in mind (meaning just the information most important to you). The speaker will be certain to hit all of your training requirements! HIGHLIGHTS March 30: Director Training Series II: Understanding Fiduciary Duties It is critical that directors and volunteers fully understand their fiduciary roles within the credit union. This is especially the case in the current economic, regulatory and legal environments. Join attorney, credit union consultant and former NCUA Chief of Staff Kirk Cuevas as he provides a complete assessment of the fiduciary duties associated with being a credit union director. Topics covered will include the following: • General Fiduciary Duties of Board Members, including Duty of Obedience, Care and Loyalty April 7: Enterprise Risk Management for Senior Management & Directors
April 13: Director Training Series III: Trust, but Verify - The Top Ten Items Every Credit Union Board Should Monitor Recognizing the value of the credit union volunteer board and the need for cost efficient opportunities for current board training, Dollar Associates is offering a continuing education webinar for credit union volunteer leaders and the managers who work with them to produce stronger credit unions in a challenging marketplace. This webinar will emphasize strong working relationships between boards and management, delineate the proper roles of each and emphasize practical ways that credit union boards can be more effective in their fiduciary roles. April 27: The Supervisory Committee’s Role & Responsibilities In the old days, Supervisory Committees reviewed loan files, performed cash counts, and confirmed closed accounts. Times have changed and the Committee’s role has changed dramatically! The modern Supervisory Committee must understand the myriad of risks facing their credit union and whether proper controls are in place. Today’s Supervisory Committee must know how to interact professionally with an outside audit firm and glean everything it can from this key ally in the audit process. They must learn how to guide, supervise, and evaluate both the internal audit department and the external auditors. To perform its responsibilities well and be a true, professional partner in the protection of the credit union, the Committee must understand its role in the changing credit union environment.
May 4: Director Training Series I: Reading a Balance Sheet Understanding the components of your credit union’s balance sheet is an integral part of being an effective board member. Former NCUA Chairman and credit union CEO Dennis Dollar will lead participants through a comprehensive analysis of a credit union balance sheet. With no aspect of a director’s fiduciary duty being highlighted more in this post-Sarbanes-Oxley, post-corporate crisis age than the Board’s financial accountability obligations, this presentation will enable directors to ask the right questions of management based on the financial numbers presented to them. May 18: Director Training Series II: Understanding Fiduciary Duties It is critical that directors and volunteers fully understand their fiduciary roles within the credit union. This is especially the case in the current economic, regulatory and legal environments. Join attorney, credit union consultant and former NCUA Chief of Staff Kirk Cuevas as he provides a complete assessment of the fiduciary duties associated with being a credit union director. Topics covered will include the following: • General Fiduciary Duties of Board Members, including Duty of Obedience, Care and Loyalty June 1: Director Training Series III: Trust, but Verify - The Top Ten Items Every Credit Union Board Should Monitor Recognizing the value of the credit union volunteer board and the need for cost efficient opportunities for current board training, Dollar Associates is offering a continuing education webinar for credit union volunteer leaders and the managers who work with them to produce stronger credit unions in a challenging marketplace. This webinar will emphasize strong working relationships between boards and management, delineate the proper roles of each and emphasize practical ways that credit union boards can be more effective in their fiduciary roles. September 14: Strategic Planning for the Board and Senior Management June 29: Directors & Credit Risk All financial institutions should have a risk management program, and credit risk is a major part it. This webinar will cover detailed elements that should be included in the credit risk program. Effectively implementing these elements will greatly enhance your next safety and soundness regulatory review. HIGHLIGHTS
September 14: Strategic Planning for the Board and Senior Management The world is changing so fast, what difference does it make if we plan? Planning is more important today than ever before. This course will look at important processes and concepts credit unions can use in their strategic planning. HIGHLIGHTS October 27: ABCs of Financial Reports for BOD
|
| Tennessee Credit Union League P.O. Box 21550 Chattanooga, TN 37424-0550 Phone: 423-899-2425 or 800-572-7359 FAX: 423-899-8726 Contact Us |
|