Directors Training Summary

Transcription

1 Date: 7/27/2016 Copyright CU Training Inc. Directors Training Summary Identify the training gaps on your board. Assess the skill level of individual members. Pinpoint training and development needs.

2 Directors' Training Summary Shoreline Credit Union As of: July 27, 2016 This summary provides an anytime, comprehensive snapshot of your board's and individual directors' ongoing assessments, learning results, completions status, and current board performance and effectiveness across key governance areas. Use the Board 360 summaries to highlight knowledge gaps and identify specific training needs for governance development and to maintain regulatory compliance requirements. Board 360 summaries provide so much useful information, they'll quickly become an indispensable part of your credit union's board development strategy.

3 BOARD TRAINING SUMMARY AGGREGATE RESULTS FOR SHORELINE CREDIT UNION (DEMO) 50% 79% 81% SCORES FOR EACH COURSE Welcome to Credit Unions Quiz Credit Union Structure and the Board Quiz Board Evaluations and Performance Quiz 91% 94% 88% 91% 86% 81% Credit Union Operations Quiz 54% 70% Regulatory Environment Quiz 58% 76% Financial Literacy Quiz 62% 71% Financial Management Reporting Quiz 82%

4 69% Reading Financial Reports Quiz Ratios and Trends Quiz 79% 73% 80% 85% Audit and Compliance Quiz 47% 59% Governance and Ethics Quiz Leadership and Communication Quiz Strategic Planning Quiz Risk Mgmt - Assets and Liabilities Quiz Risk Mgmt - Capital Quiz Risk Mgmt - Liquidity and Credit Quiz 57% 70% 70% 72% 84% 85% 86% 84% 79% 73% 82% 78% AML for Directors Quiz 67% 74% AML and the Risk-Based Approach Quiz FATCA Quiz 90% 90% 79% 91%

5 CSEC for Directors Quiz 85% 85% Schemes, Scams and Spies Quiz 62% 84% Privacy Quiz 62% 85% CASL Quiz 87% 87% Health and Safety Quiz 84% 88% Workplace Violence and Harassment Quiz 79% 79% Accessibility Standards Quiz 60% 74% Collection Laws and Regulations Quiz 78% 81%

6 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR IAN BERRY 28% 79% 81% TRAINING SUMMARY FOR STEWART BUCKLAND 72% 70% 81% TRAINING SUMMARY FOR JAMES DAVIS 56% 68% 82% TRAINING SUMMARY FOR ANDREW BEST 20% 90% 90% TRAINING SUMMARY FOR JACOB DYER 78% 80% 78%

7 TRAINING SUMMARY FOR KYLIE EDMUNDS 19% 92% 100% TRAINING SUMMARY FOR AMANDA PETERS 41% 71% 77% TRAINING SUMMARY FOR LINDA RODGERS 90% 100% 96% TRAINING SUMMARY FOR ABIGAIL VADISON This board member has not yet logged into Board 360.

8 Copyright CU Training Inc. ONBOARDING DIR100: Welcome to Credit Unions Credit unions have a proud history. In this course, we'll introduce how credit unions came to be, with special emphasis on the important contribution Canadians have made to the credit union movement. We'll provide a snapshot of the credit union system in Canada, and we'll look into the unique cooperative structure of credit unions. DIR101: Credit Union Structure and the Board As a member of the Board of Directors, you have become part of a worldwide network of financial cooperatives. You might be surprised to learn about the many major organizations that are an integral part of the credit union system. DIR102: Board Evaluations and Performance Performance is how we do things. Formal evaluation of performance is measurable.this course will cover the fundamentals of evaluating board performance, and explore the concepts of evaluation, tools for analysis, and evaluations results. You'll explore your role as a Director in making this process effective and efficient. DIR103: Credit Union Operations The Board's role with respect to credit union operations encompasses setting or approving appropriate policies to cover all areas of the credit union operations. Operations is the integrated system of internal processes, organizational framework and daily management, and infrastructure of physical and technological service-delivery systems. DIR104: Regulatory Environment As a Director it is important to understand the regulatory environment that credit unions operate in. Compliance with legislation and knowing the regulatory agencies and standards that must be followed is critical to our success. In this program you will become aware that our organization operates in a heavily regulated world that extends well beyond the province.

9 Copyright CU Training Inc. FINANCIAL LITERACY DIR200: Financial Literacy Financial literacy and understanding profitability is an important role for members of the board. It is critical to be able to review the financial health of the credit union by monitoring its trends and growth, and/or the possible deterioration of key financial indicators. Understanding these fundamental factors will assist in making decisions that ensure the sustainability and growth of your credit union. DIR201: Financial Management Reporting Reports provided by management are critically important to understanding financial performance. Since the Board of Directors is not involved in daily management of the credit union, it must rely on reports to provide objective information about how well the credit union is performing with respect to key areas such as profitability, cost efficiency, financial stability and growth. DIR202: Reading Financial Reports Understanding the monthly financial condition of your credit union is a fundamental skill for any member of the Board of Directors. Managers will prepare the information, but it is your responsibility to review the reports. This will help you determine progress towards goals and identify any areas of concern. While you are taking this course, you might want to refer to your credit union's current financial statements. This will allow you to compare the reports to the ideas presented in this course. DIR203: Ratios and Trends As a Director, reading financial reports can offer a greater understanding of the financial health of your organization. Key ratios are generated from these reports. These ratios allow you to compare your credit union with other organizations, or look at changes in your own organization over time. After completing this course, you will be familiar with the common financial measures that are used in credit unions. DIR204: Audit and Compliance The Financial Institutions Act in Canada requires that each credit union have an Audit Committee and be audited by independent auditors. Credit unions are also subject to inspection by the Superintendent of Financial Institutions, an official (or an appointee) of the Financial Institutions Commission. This course details the roles and responsibilities of the Audit Committee, the structure of an Audit Committee and its working relationships.

10 Copyright CU Training Inc. LEADERSHIP AND RISK DIR300: Governance and Ethics Good governance is the cornerstone of any successful organization. It is the processes, strategic plans, policies, and goals which govern and guide the way organizations are directed, administered or controlled. DIR301: Leadership and Communications Leadership encompasses the ability to influence discussions while building consensual solutions. Effective leaders recognize the importance of all participants in deliberations and the importance of constructive discussion and debate. Leaders are effective communicators. Leadership involves approaching initiatives from a strategic perspective, championing new initiatives and working towards their achievement to deliver quality services to the members and improve the longer term viability of the credit union. DIR302: Strategic Planning Strategic planning is designed to yield a set of critical high-level decisions with respect to an organization's overall future direction or vision, the goals set to achieve the vision of the desired future, the specific objectives to accomplish to reach the goals and the strategies defining the course of action and the underlying conceptual framework of how goals and objectives will be realized. DIR303: Risk Mgmt - Assets and Liabilities Structural risk is the most complex of the financial risks, and entails interest rate risk and the management of this risk through Asset Liability Management (ALM). ALM evaluates the degree of risk based on balance sheet and interest rate projections for the future. It is essential for the Board to ensure that there is an ALM policy in place addressing limits on balance sheet mix, limits on exposure to interest rate fluctuations and foreign currency, as well as use of ALM consulting services, techniques and analytical tools. DIR304: Risk Management - Capital Capital risk is a critical measure as it represents the difference between assets and liabilities. It protects the credit union against losses, and can be a source of funding development or growth initiatives. Capital is a key indicator of financial strength. The Board should ensure that the credit union has capital and capital management policies in place. DIR305: Risk Mgmt - Liquidity and Credit Liquidity risk is the risk of not having sufficient cash or cashable investments to meet the needs of depositors and borrowers. Decisions on liquidity should be based on an analysis of cash flows, deposits and withdrawals, and the financial obligations of the credit union. Credit risk is one of the main risk areas within a credit union. Sound risk management include identifying the types of loans that are acceptable, the level of risk appetite that the board is willing to accept, limits on risk levels and risk areas, effective credit risk assessment tools, qualified management staff and strong training and education standards.

11 Copyright CU Training Inc. COMPLIANCE AND SECURITY DIR400: AML for Directors The Board and senior management play a vital role in maintaining an effective anti-money laundering/anti-terrorist financing compliance regime. By complying with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations, our organization plays a vital role in deterring money laundering, terrorist financing, and other illegal activities, and in protecting our nation's economy and security. The legislative requirements to deter, detect, and report money laundering and terrorist financing activities affect all areas of our operations. DIR401: AML and the Risk-Based Approach A risk-based approach analyzes risks inherent in our financial institution's operation, including our products and services, delivery channels, geographic locations, business relationships (with both accountholders and nonaccountholders) and any other relevant risks. Resources are then allocated appropriately to mitigate those risks. A risk-based approach is a process designed to identify high risks of money laundering and terrorist financing, and to develop strategies to mitigate them. DIR402: FATCA This course offers a background on the Foreign Account Tax Compliance Act (FATCA), the intergovernmental agreement (IGA) between Canada and the U.S. and the application of these to credit unions. The program provides Directors with the knowledge regarding our obligations and reporting requirements needed to adhere to the regulatory requirements. DIR403: CSEC for Directors The risk of cyber attacks against financial institutions has grown and become a serious threat to our legal, financial and reputational standing. It is critical that the Board of Directors and senior management are aware of the risks and their responsibility in protecting our financial institution. A comprehensive cyber security program requires staff expertise, dedicated resources, continuous assessment, and rapid response to critical incidents. DIR404: Schemes, Scams and Spies This module details the various types of cyber crime that continue to escalate. The growing frequency and sophistication of cyber attacks is changing rapidly. As a member of the board within our organization you are responsible for understanding the risks and being aware of the emerging techniques being used by criminals to gain access to private and confidential information and systems. Part of this responsibility includes staying on top of current threats and risks.

12 Copyright CU Training Inc. OPERATING LEGISLATION DIR500: Privacy Canada has passed legislation that makes all organizations accountable for the personal information they collect, use and disclose. All financial institutions that collect personal information from accountholders must take steps to protect their privacy. The legislation requires the implementation of privacy policies and practices, the appointment of a privacy officer, as well as openness and transparency of privacy policies and practices. DIR501: CASL Canada's Anti-Spam Legislation, CASL, came into effect July 1, The information covered in this program will ensure you have the required knowledge to be compliant with the legislation and support the credit union's antispam policies and procedures. DIR502: Health and Safety Directors need to understand the important role of occupational health and safety. Occupational Health and Safety policy and programs ensure our organization follows legislated regulations for health and safety and provides emergency and evacuation procedures for natural disasters. DIR503: Workplace Violence and Harassment Credit unions are workplaces governed by provincial legislation. As such, there are differences between the laws regulating credit unions from province to province. Some provinces have laws regulating both workplace violence and harassment; and some provinces/territories have one or the other. In any case it is important to understand the laws as well as the importance of providing a workplace that is free of violence and harassment. DIR504: Accessibility Standards Canada has committed to meet a number of human rights objectives to ensure people with disabilities receive equal treatment in all areas of their lives. As a member of the Board of Directors it is important that you understand the regulations and accessibility service standards that are an important part of the service we provide to our members. DIR505: Collection Laws and Regulations This course provides an overview of the federal and provincial laws that regulate debt collection practices and credit reporting activities for credit unions across Canada.

13 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR IAN BERRY Name Course d Score Welcome to Credit Unions 3/23/ % Credit Union Structure and the Board 3/23/ % Board Evaluations and Performance 7/27/ % Credit Union Operations 4/5/ % Regulatory Environment 4/3/ % Ratios and Trends 85% Audit and Compliance 42% Strategic Planning 7/27/ % Health and Safety 75% 28% 79% 81%

14 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR STEWART BUCKLAND Name Course d Score Welcome to Credit Unions 3/28/ % Credit Union Structure and the Board 3/28/ % Board Evaluations and Performance 3/28/ % Regulatory Environment 4/3/ % Financial Literacy 4/1/ % Financial Management Reporting 3/28/ % Reading Financial Reports 3/28/ % Ratios and Trends 3/28/ % Audit and Compliance 3/28/ % Governance and Ethics 3/28/ % Leadership and Communications 3/29/ % Risk Mgmt - Assets and Liabilities 3/28/ % Risk Management - Capital 3/29/ % Risk Mgmt - Liquidity and Credit 3/28/ % AML for Directors 3/28/ % AML and the Risk-Based Approach 3/28/ % CSEC for Directors 3/28/ % Schemes, Scams and Spies 3/28/ % Health and Safety 3/28/ % Workplace Violence and Harassment 3/28/ % Accessibility Standards 3/28/ % Collection Laws and Regulations 3/28/ % 72% 70% 81%

15 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR JAMES DAVIS Name Course d Score Welcome to Credit Unions 7/20/ % Credit Union Structure and the Board 3/24/ % Board Evaluations and Performance 7/26/ % Credit Union Operations 4/5/ % Financial Management Reporting 7/25/ % Reading Financial Reports 7/21/ % Ratios and Trends 7/18/ % Audit and Compliance 20% Governance and Ethics Leadership and Communications 3/29/ % Strategic Planning 7/27/ % Risk Management - Capital 3/29/ % Risk Mgmt - Liquidity and Credit 7/27/ % AML for Directors 26% AML and the Risk-Based Approach Health and Safety 7/27/ % Collection Laws and Regulations 7/27/ % 56% 68% 82%

16 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR ANDREW BEST Name Course d Score Welcome to Credit Unions 2/22/2016 Credit Union Structure and the Board 7/13/ % Board Evaluations and Performance Credit Union Operations 4/5/2016 Regulatory Environment 4/3/2016 Financial Literacy 4/1/2016 Financial Management Reporting Reading Financial Reports Ratios and Trends Audit and Compliance 7/13/2016 Governance and Ethics Leadership and Communications 3/29/2016 Strategic Planning Risk Mgmt - Assets and Liabilities Risk Management - Capital 3/29/2016 Risk Mgmt - Liquidity and Credit AML for Directors AML and the Risk-Based Approach FATCA CSEC for Directors Schemes, Scams and Spies Privacy 3/28/ % CASL Health and Safety Workplace Violence and Harassment Accessibility Standards Collection Laws and Regulations 20% 90% 90%

17 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR JACOB DYER Name Course d Score Welcome to Credit Unions 7/13/ % Credit Union Structure and the Board 56% Board Evaluations and Performance Credit Union Operations 4/5/ % Regulatory Environment 4/3/ % Financial Literacy 4/1/ % Financial Management Reporting 7/4/ % Reading Financial Reports 7/5/ % Ratios and Trends 7/25/ % Audit and Compliance 6/24/ % Governance and Ethics Leadership and Communications 3/29/ % Strategic Planning 7/27/ % Risk Mgmt - Assets and Liabilities 78% Risk Management - Capital 3/29/2016 Risk Mgmt - Liquidity and Credit 78% AML for Directors AML and the Risk-Based Approach FATCA 7/27/ % CSEC for Directors Schemes, Scams and Spies Privacy 62% CASL 7/26/ % Health and Safety 7/31/ % Workplace Violence and Harassment Accessibility Standards 7/27/ % Collection Laws and Regulations 62% 78% 80% 78%

18 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR KYLIE EDMUNDS Name Course d Score Welcome to Credit Unions 3/29/ % Credit Union Structure and the Board 3/29/ % Credit Union Operations 4/5/2016 Regulatory Environment 4/3/ % Financial Literacy 4/1/2016 Financial Management Reporting Reading Financial Reports Ratios and Trends Audit and Compliance Governance and Ethics Leadership and Communications 3/29/2016 Strategic Planning Risk Mgmt - Assets and Liabilities Risk Management - Capital 3/29/2016 Risk Mgmt - Liquidity and Credit AML for Directors AML and the Risk-Based Approach FATCA CSEC for Directors Schemes, Scams and Spies Privacy CASL Health and Safety Workplace Violence and Harassment Accessibility Standards Collection Laws and Regulations 19% 92% 100%

19 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR AMANDA PETERS Name Course d Score Welcome to Credit Unions 78% Credit Union Structure and the Board 86% Board Evaluations and Performance Credit Union Operations 4/5/ % Regulatory Environment 4/3/ % Financial Literacy 4/1/ % Ratios and Trends 85% Audit and Compliance 47% Governance and Ethics Leadership and Communications 3/29/ % Strategic Planning 86% Risk Mgmt - Assets and Liabilities 85% Risk Management - Capital 3/29/ % Risk Mgmt - Liquidity and Credit 75% Schemes, Scams and Spies Accessibility Standards 53% Collection Laws and Regulations 76% 41% 71% 77%

20 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR LINDA RODGERS Name Course d Score Welcome to Credit Unions 7/13/ % Credit Union Structure and the Board 6/8/ % Board Evaluations and Performance 3/23/ % Credit Union Operations 6/7/2016 0% Regulatory Environment 6/20/ % Financial Literacy 5/2/ % Financial Management Reporting 3/23/ % Reading Financial Reports 5/4/ % Ratios and Trends 73% Audit and Compliance 3/23/ % Governance and Ethics 4/26/ % Leadership and Communications 6/20/ % Strategic Planning 3/23/ % Risk Mgmt - Assets and Liabilities 6/20/ % Risk Management - Capital 6/20/ % Risk Mgmt - Liquidity and Credit 3/23/ % AML for Directors 3/23/ % AML and the Risk-Based Approach 3/23/ % FATCA 3/23/ % CSEC for Directors 7/1/ % Schemes, Scams and Spies 3/23/ % Privacy 3/23/ % CASL 83% Health and Safety 3/23/ % Workplace Violence and Harassment 3/23/ % Accessibility Standards 3/23/ % Collection Laws and Regulations 3/23/ % 90% 100% 96%

21 Report Date: 7/27/2016 Copyright CU Training Inc. TRAINING SUMMARY FOR ABIGAIL VADISON Name Course d Score This board member has not yet logged into Board 360.