The NAFCU Journal March - April 2018 - 28

''

New board members
contribute value from day one
with a structured onboarding
program.

''

- DEEDEE MYERS, CEO, DDJ MYERS LTD.

union's success and whether the board
would be seen as disengaged in case a
problem arises.
"The line is delegation versus abdication," Bruyere says. "Boards can do a
good bit of delegation, but there has to
be that oversight, which can be in the
form of paying attention to how the
credit union is performing."
Amid talk of loosening federal regulations, credit union boards can't overlook
their accountability to state regulators
and attorneys general, who are "getting
very active on consumer compliance
issues," says Kris Stewart, senior director
of regulatory compliance analysis for
Wolters Kluwer, NAFCU Preferred Partner for consumer and member business
lending and deposit services.
"Don't be complacent," Stewart says.
"Just because things may loosen up at the
federal level doesn't mean it might not
tighten up at the state level."

ASSESS AND PLAN

Effective board training starts with a
strategic plan, "just like any strategic
planning model," says Stewart. "There
are good resources out there, but if you

''

don't have a plan in place, you're just
searching around."
Recycling last year's training regimen
is not an option in this ever-changing
climate, she adds. Reviewing regulators'
supervision priorities and examination procedures for each year provides
insight into industry trends that shape
the training plan.
The plan should mix training on overall
industry trends with immersion in
credit-union-specific mission and
operations, says Stewart. "If I don't have
the context for why it's important, it's
harder to pay attention and learn."
NCUA guidance creates a "road map"
that can be followed "to craft your training so it's relevant to the person receiving
it," notes English.
Deedee Myers, CEO of DDJ Myers
Ltd., NAFCU Preferred Partner for
leadership training, executive search
and recruitment services, recommends
individualized learning plans that provide each member with the capabilities
to fully support the work of the board.
For new members, that includes "structured onboarding," detailing committee

You can look at compliance
as a burden, or you can look at
compliance as a benefit.

''

- KRIS STEWART, SENIOR DIRECTOR OF REGULATORY
COMPLIANCE ANALYSIS, WOLTERS KLUWER

28

involvement and learning opportunities
at regular milestones.
"Give them a structure, versus just having them sit in meetings and get a huge
packet the week before that they don't
know what to do with," says Myers. "New
board members contribute value from
day one with a structured onboarding
program. They better understand how to
make sense of the board packet and ask
strategically oriented questions."
Given the latitude to craft training
according to their needs, boards can call
on a variety of resources:
NAFCU offers conferences, online
training and certification programs
in the full range of fiduciary duties.
When directors for Indiana-based
Financial Center First Credit Union
(FCFCU) attend conferences, whether
from NAFCU or other organizations, each prepares an action report
that's shared with the full board,
says FCFCU Board Chairman
John Keneipp.
■■ Consultants offering credit-union-specific training include NAFCU Services
Preferred Partners such as DDJ Myers
and Wolters Kluwer. Minnesota-based
Hiway Federal Credit Union's board
brings in risk management experts to
discuss the Bank Secrecy Act and fair
lending "at least on an annual basis,"
says Hiway Federal Credit Union's
Board Chair Pam Tschida. At FCFCU,
quarterly presentations, up to three
hours long, immerse directors in such
topics as cybersecurity and enterprise
risk management.
■■ Management and staff are often tapped
for their expertise, especially on new
requirements and regulations. The
job of staff, says English, is "to make
sure board members are given quality
information so they can make good
decisions as far as the strategic direction of the credit union. It's on them
to hold us accountable for providing
them with that quality information."
■■

THE WEIGHT OF COMPLIANCE
If fiduciary duties were a pie cut into
quarters, compliance would seem

THE NAFCU JOURNAL  MARCH-APRIL 2018



Table of Contents for the Digital Edition of The NAFCU Journal March - April 2018

Conferences
From the Chair
Your Washington Watchdog
Advocacy Snapshot
Washington and Industry Briefs
Growth Strategies
Understanding Risk and Managing It
The Board of Directors
Best-of-Class Strategies for Retaining Top Talent
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal March - April 2018 - Cover1
The NAFCU Journal March - April 2018 - Cover2
The NAFCU Journal March - April 2018 - 1
The NAFCU Journal March - April 2018 - 2
The NAFCU Journal March - April 2018 - Conferences
The NAFCU Journal March - April 2018 - From the Chair
The NAFCU Journal March - April 2018 - 5
The NAFCU Journal March - April 2018 - Advocacy Snapshot
The NAFCU Journal March - April 2018 - 7
The NAFCU Journal March - April 2018 - Washington and Industry Briefs
The NAFCU Journal March - April 2018 - 9
The NAFCU Journal March - April 2018 - 10
The NAFCU Journal March - April 2018 - 11
The NAFCU Journal March - April 2018 - 12
The NAFCU Journal March - April 2018 - 13
The NAFCU Journal March - April 2018 - 14
The NAFCU Journal March - April 2018 - 15
The NAFCU Journal March - April 2018 - 16
The NAFCU Journal March - April 2018 - 17
The NAFCU Journal March - April 2018 - 18
The NAFCU Journal March - April 2018 - 19
The NAFCU Journal March - April 2018 - Growth Strategies
The NAFCU Journal March - April 2018 - 21
The NAFCU Journal March - April 2018 - Understanding Risk and Managing It
The NAFCU Journal March - April 2018 - 23
The NAFCU Journal March - April 2018 - 24
The NAFCU Journal March - April 2018 - 25
The NAFCU Journal March - April 2018 - The Board of Directors
The NAFCU Journal March - April 2018 - 27
The NAFCU Journal March - April 2018 - 28
The NAFCU Journal March - April 2018 - 29
The NAFCU Journal March - April 2018 - 30
The NAFCU Journal March - April 2018 - 31
The NAFCU Journal March - April 2018 - 32
The NAFCU Journal March - April 2018 - 33
The NAFCU Journal March - April 2018 - Best-of-Class Strategies for Retaining Top Talent
The NAFCU Journal March - April 2018 - 35
The NAFCU Journal March - April 2018 - 36
The NAFCU Journal March - April 2018 - 37
The NAFCU Journal March - April 2018 - 38
The NAFCU Journal March - April 2018 - 39
The NAFCU Journal March - April 2018 - Executive Spotlight
The NAFCU Journal March - April 2018 - 41
The NAFCU Journal March - April 2018 - Management Insight
The NAFCU Journal March - April 2018 - 43
The NAFCU Journal March - April 2018 - Compliance Central
The NAFCU Journal March - April 2018 - 45
The NAFCU Journal March - April 2018 - Inside NAFCU Services
The NAFCU Journal March - April 2018 - 47
The NAFCU Journal March - April 2018 - From the President’s Desk
The NAFCU Journal March - April 2018 - Cover3
The NAFCU Journal March - April 2018 - Cover4
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