MADISON, Wis. –To further protect credit union fidelity bond policyholders and reduce their loss exposures, CUNA Mutual Group said it has introduced an intuitive online tool that provides executive-level risk insights unique to a particular credit union.
The “Risk Insight Dashboard” elevates a credit union’s risk awareness in five key areas, helping guide risk prevention decisions by management and boards, the company said. It explained that CUs complete an initial online assessment by answering a short series of yes/no or multiple choice questions to establish their benchmark. Responses feed a customized dashboard for each credit union to provide executive insight into five key risk areas, which include Internal Controls (Cash Handling & General Ledger), Lending Oversight, Employment Practice, Data/Network Security, and Member Authentication.
The Risk Insight Dashboard is housed online in CUNA Mutual Group’s Protection Resource Center, and provides credit unions a custom risk rating of low, moderate, or high in each area with a numerical scale of 0-100 based on the credit union’s completed assessment. CUNA Mutual said.
For more info: www.cunamutual.com/RiskDashboard.
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