WASHINGTON—A new white paper on how to “get things done and minimize opposition” has been released by the CUNA Compliance & Risk Council.
The paper, “Adding Emotional Intelligence to Enterprise Risk Management,” addresses enterprise risk management (ERM) and emotional intelligence.
“EQ is critical in business,” said Brandi Stankovic, COO and CSO at CU Solutions Group in her segment of the white paper. “EQ is the ability to recognize and understand your own emotions and your impact on others.”
According to the Council, the white paper also includes strategies for how credit union ERM leaders can apply EQ skills to:
- Improve decision-making
- Listen to alternative viewpoints
- Resolve conflict and overcome resistance to change
- Enhance focus
- Strengthen communication
Investment Needed
“ERM leaders should invest in improving EQ because it has the potential to enhance strategic, operational, and reputation risk by focusing on self-assessment (leading yourself), relationships management (leading others), and leadership management (leading through a situation),” states Jackie Gilbert, SVP of enterprise risk management at Suncoast Credit Union, in the white paper. “When ERM leaders fully embrace EQ, it means they have an increased capacity for insight, which is critical for leaders in risk management who deal with constant change.”
The Council said the white paper includes examples, tips and tactics shared by EQ experts and credit union leaders including insights for building self-awareness of EQ; applying EQ skills when emotions are running high; encouraging staff to work toward higher EQ; and building credibility for ERM by building relationships throughout the credit union.
“EQ is an important component of any successful credit union team, including ERM,” states Fabiana Burkett, chief risk officer for Xceed Financial Federal Credit Union, a white paper contributor. “Investing in EQ not only reduces risk, but also promotes growth.”
The paper is available online in the Resources section of www.cunacouncils.org.