Credit Unions

BPS Resolver Inc, and experienced ERM consultants Directors Global have collaborated to provide Ontario Class 2 credit unions with an efficient and cost effective approach to meeting DICO’s Enterprise Risk Management (ERM) requirements.

This high quality but low cost solution enables Credit Unions to self-develop, implement, and self-manage their ERM programs. Directors Global consultants will guide participating credit unions through a specifically designed process, based on our in deep understanding of DICO’s objectives and documentation. Credit union staff will record all necessary information and carry out their work on BPS Resolver’s easy to use and secure web-based risk management software, avoiding inefficient and insecure spreadsheet approaches.

This package of expertise, workshops and software will enable any credit union to manage risk more effectively and meet DICO’s requirements efficiently in an affordable package. In addition, participation in the program enables credit unions to share their knowledge and experience with each other by working in a common approach and a common platform.

Program Details

Through face-to-face consultations, on-line training and a web-based software solution, Directors Global and BPS Resolver deliver a hands-on, comprehensive approach to achieving and maintaining compliance with DICO’s ERM mandate.

The program includes the following modules typically delivered over a 12 week period.

Delivered through two webinars and face-to-face discussions, with reading material also provided. Includes ERM and governing principles, building an ERM culture and the role of technology

Delivered through three webinars and individual consulting with your credit union. Includes the purpose, objectives of the ERM policy statement, risk appetite and tolerances

Delivered through webinars and ongoing customer support. Understanding how to use the BPS Resolver ERM software, including using the pre-built report and tracing and managing of issues and action plans. Incorporates software training and explanation of the effective modelling of your processes risks and controls

Delivered through three webinars, workshops and consulting. Covers corporate risk profiling, risk assessment and measurement and risk response and action planning

Delivered through a webinar and individualized consultation. Includes reviewing the effectiveness of the ERM framework, developing key risk indicators (KRIs), comparing risks against the credit unions risk appetite, adequacy of controls,and management response to risk issues.

Delivered through a webinar and individualized consultation. Creating and delivering reports generated through the software including the Quarterly Report to Board as defined in DICO’s Sample ERM Report Outline.

An opportunity to share non-proprietary information between credit unions, such as risk categorizations. All information will be “cleansed” before sharing with peers at other credit unions, but will provide an opportunity for benchmarking your institution against others.

For more information on this program, please view a recorded webinar on this offering, or contact us.