Emerging risk outlook: keep ahead of trends & issues

Published by: Jose Ortiz

April 20, 2022 | TruStage

Innovation, employee experience, and evolving consumer preferences are changing the financial services landscape. This includes the way financial products and services are delivered. Many credit unions are exploring ways to address the changing landscape to increase efficiencies, grow their reach, and improve competitiveness. No matter your organization’s approach, there’s a new level of scrutiny that you need to apply.

Clearly, you must be sure that you’re not doing something that introduces too much risk that could put your long-term viability in jeopardy. However, it doesn’t mean you shouldn’t pursue opportunities. Risk management shouldn’t be the department that says no, but rather the function that enables successful execution with the emerging risk universe in mind.

While each credit union has its own unique risk footprint, this Emerging Risks Outlook highlights risks and loss trends that most likely should have your eye on. The Emerging Risks Outlook series provides credit unions with:

  • Short risk descriptions
  • Key questions to consider
  • Relevant, straightforward responses
  • Links to Related Resources

Remember, when risk management is effective, typically nothing bad happens. But, if you’re blindsided by a problem, your reputation often takes the hit. Don’t let not knowing which emerging risks are around the corner take the blame.

To discuss how to identify risk, mitigate losses, and receive insightful resources and tested practices, Ask a Risk Consultant or call 800.637.2676.

Contact Jose Ortiz for questions or assistance.

Jose Ortiz
Jose Ortiz Sr. Business Solutions Manager E: jortiz@ohiocul.org
Contact Us

Other Movement News

Government Affairs

Members advance advocacy priorities in Washington, D.C.

Credit union advocacy strength is built by the willingness of Ohio credit unions to go above and beyond to advocate for 3.2 million Ohioans. Last week, 39 leaders from 26 […]
Regulatory

Credit unions connect with NCUA Chairman during Hike the Hill

Optimal regulation occurs when regulators and regulated organizations collaborate on safety, soundness, and consumer protection priorities without negatively impacting operational viability. Almost 40 Ohio credit union leaders traveled to the […]
Member Benefits

Congratulations 2023 award winners

Credit unions make a positive impact on people’s daily lives, and the League is proud to acknowledge the dedicated individuals who make it all happen each year. This year holds […]