Governance Best Practices: Designing an Effective Process

RELEASE DATE: MAY 20, 2024
ANTICIPATED DURATION: 60 MINUTES

The board of directors is responsible for the direction and control of the credit union. To properly perform its duties, it must design an effective process to receive information, understand risk an act decisively.   This session will review best practices for keeping the board updated and informed of relevant risk levels, credit union performance as well as news from the financial services marketplace.

After the session, you will be able to:

• Understand board duties and responsibilities (both FCU and states?)
• Recognize adequate risk management and reporting processes
• Design effective board meetings; from packages to minutes
• Evaluate effective information flow and reporting structures
• Appreciate examiner expectations

MEET THE SUBJECT MATTER EXPERT

Attorney, author, consultant and nationally recognized trainer, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC.  Through Reed and Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance. In addition to his legal expertise, Mr. Reed is a Certified Fraud Examiner and Chairman of a Supervisory Committee.

A former trial attorney and Vice President and General Counsel of Apple Federal Credit Union, Mr. Reed is particularly noted in the areas of credit union operations, governance, security, bankruptcy and collections.  He has been selected to train federal and state field examination staff on numerous issues including BSA, Field of Membership, ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management, Cybersecurity and Bankruptcy.