Community Bank and Credit Union Enterprise Risk Management

Establishing and maintaining your community bank and credit union enterprise risk management (ERM) program is more important than ever and our community bank and credit union enterprise risk management services deliver a simple, yet comprehensive program.

Establishing an enterprise-wide approach to risk management – from planning and development through implementation, training and oversight – is an increasingly challenging yet vital part of the community banking and credit union business. Malzahn Strategic has extensive community bank and credit union ERM program development experience and can guide your institution in developing a simple yet comprehensive enterprise risk management program. We integrate all the components of the ERM program you already have and add the ones your institution may be missing into one complete program.

Enterprise risk management has been around since the 1980’s but it has now become more prominent in community banks and credit unions due to increased global risks from cyber security incidents to global pandemics. Financial institutions that have an enterprise risk management program established are better positioned to grow successfully in this challenging environment. The ERM program based on best practices ensures institutions have a strong foundation and solid infrastructure which helps them foresee and prepare for future risks while achieving their organization’s vision.

Our proven process encompasses all parts of a community bank or credit union risk factors and includes developing risk assessments and training your risk managers, leaders or compliance officers risk assessment characteristics, then building a risk assessment system (RAS). From there, we go through a number of scenarios, building staff knowledge in the assessment areas and then complete the final enterprise risk management program document, ready to implement.

Lately, we have been asked by our community bank and credit union clients to build custom COVID-19 risk management scenarios to either add them to existing ERM plans or build a stand-alone risk mitigation plan. While a pandemic scenario is always something which appears in any ERM program, we find leadership teams are relieved when they have a COVID-19 specific plan documented and ready to go if/when their community has an outbreak.

Contact us for more information on our community bank and credit union ERM services.