Credit Union Consultancy

The increased level of regulation within the movement is placing noticeable strain on boards and management. Our experienced consultants work with the Executive and Boards of Credit Unions to deal with this new reality.

We can provide an Overall Review of systems in a Credit Union, under some or all of the following headings:

Internal Control Review (Financial & Operational)

We concentrate on the key internal controls of the Credit Union. Existing controls are reviewed in detail, to ensure that they comply with best practice within the movement.

In particular, we would examine the existing cash controls within the Credit Union and Related Party transactions would be examined in detail.

IT Controls

We provide a comprehensive review of the Credit Union's IT system should be undertaken from an internal control and security perspective.

The review covers - at a minimum - operational controls (password, teller controls etc), up to formal contingency planning.

Governance Structures

The Regulator is placing increased emphasis on this subject matter. We would review the existing governance structure within the Credit Union.

Reporting, Learning & Development:

The reporting structure between management and the board will also be examined. The training and development policy of the Credit Union will also be reviewed in detail.

Strategic & Operational Planning

Assessment of the Credit Union's strategic and operational plans from an objective and independent viewpoint.

The above list is by no means exhaustive. Obviously, the Board of a Credit Union may have specific topics that may require our specific attention. A preliminary meeting with all concerned parties would be a necessary exercise before any formal review could commence.

Contact

Damian O'Neill FCA (oneill@professional.ie) or contact us at 021-4319010