Risk Management Articles
Finding the Bright Spots & Creating More of Them
In their book, Switch: How to Change Things When Change is Hard, Chip and Dan Heath introduce readers to the story of Jerry Sternin. Sternin, who works for Save the Children, was sent to Vietnam in 1990 to open a new office and given six months to make a difference in the nutritional health of…
Santa & Credit Unions
By now I am sure that you are knee deep in the throes of the Holiday Season. As you know, Santa Claus has been busy making a list of naughty and nice children all year long. His team of elves has been busy making toys and by now is loading his sleigh for his whirlwind…
The Key to Great Analysis for Credit Unions
One of the roadblocks we often see with credit unions is that they do not have quality data that is necessary for the analysis process. The key is to incorporate data management strategies that ensure a credit union has quality data for analysis. Data management and analysis is not contained in a single job function. …
Increasing Loan Portfolio Profitability is About More Than Reducing Losses
In the book, “Seeing What Others Don’t: The Remarkable Ways We Gain Insights,” author Gary Klein points out that many organizations focus on reducing errors to increase performance, but few focus on new insights. His argument is that true performance improvement requires the opportunity for both. As consumer lending continues to be highly competitive for…
How Credit Score Migration Analysis Can Identify Opportunities, Mitigate Losses
Most credit unions use a credit score to decision and price loan applications. In fact, in many cases the credit score is used as the primary factor in credit and pricing decisions. Therefore, since the score is such an important factor, it stands to reason that we should have a good understanding of what it…