Kristen Scott is a 33-year-old VP Enterprise Risk Management with Telhio Credit Union ($440M) in Columbus, Ohio.
Synopsis: Hi! I’m Kristen Scott. I am 33 years old, and I am the Vice-President of Enterprise Risk Management at Telhio Credit Union. We are a $440 Million state-chartered credit union in Columbus, Ohio.
Enterprise Risk Management is a relatively new function in our organization. Until recent years, risk in our credit union was primarily managed in organizational silos. This limited management’s ability to fully incorporate the interconnectivity and impact risks have throughout the entire organization. As the Corporate Credit Union Stabilization affects our bottom line and regulatory compliance gains complexity, I have been tasked with incorporating Enterprise Risk Management as a strategic objective to allow Telhio to remain a viable institution into the future.
For my project, I took all of our reporting and organized it into more meaningful format. I created a Risk Mitigation Packet that will be produced monthly and distributed to the Board and Senior Management. In this packet, I have taken reports produced by individual departments and categorized them by risk. These risks were then grouped into three categories for simplicity.
These reports include both the tracking of various metrics within each risk category and the specific controls management and the board has incorporated into procedures or policy to mitigate each type of risk. Additionally, all budget and strategic planning has been incorporated into this packet.
My hope is through this synthesized reporting structure, the board and senior management and can better understand the aggregate risks facing the credit union and as a result, make more informed decisions. I want us to remain a progressive and financially strong credit union that our members both benefit from, and are proud to be a part of.
I also hope that in sharing this project, other credit unions can benefit from our work to further strengthen the credit union system.
Please vote for me, Kristen Scott, as your Next Top Credit Union Executive.
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