This is the 4th blog in a series about Artificial Intelligence (AI) in the context of credit union risk and compliance. This series is designed to provide auditors and compliance professionals with a clear understanding of how AI can be applied and managed within their operations.
When you’re protecting something important, you want to defend it well. The Institute for Internal Auditors developed a model that recommends 3 lines of defense:
This is the 3rd blog in a series about Artificial Intelligence (AI) in the context of credit union risk and compliance. This series is designed to provide auditors and compliance professionals with a clear understanding of how AI can be applied and managed within their operations.
Currently, there isn’t a wealth of regulatory guidance around AI. Furthermore, all credit unions will conduct their own AI risk assessments. AI truly is the wild west—the big frontier—when it comes to new credit union technology and best practices.
OnPath Federal Credit Union is a $625 million credit union based in Louisiana. As OnPath grew, its senior leadership recognized that audit and remediation inefficiencies were causing very real bottlenecks that stunted the credit union’s potential for continued growth.
This is the 2nd blog in a series about Artificial Intelligence (AI) in the context of credit union risk and compliance. This series is designed to provide auditors and compliance professionals with a clear understanding of how AI can be applied and managed within their operations.
In many cases, leadership sets the parameters of AI use at each credit union. Leadership may set policy for AI use in major “offense” or “defense” solutions:
This is the 1st blog in a series about Artificial Intelligence (AI) in the context of credit union risk and compliance. This series is designed to provide auditors and compliance professionals with a clear understanding of how AI can be applied and managed within their operations.
What do you think of when someone suggests using AI at your credit union? What role do you see AI playing?
In 2019, Boeing executives announced a plan to eliminate up to 900 quality control inspection jobs. Several years and two high-profile equipment failures later, Boeing is reversing course.
Credit union auditors can find a few takeaways from Boeing’s dramatic reversal.
Hawaii Community Federal Credit Union (HCFCU) is an $800 million credit union headquartered in Kailua Kona, Hawaii.
United Bay Community Credit Union (“Ubay”) is a state-chartered credit union headquartered in Bay City, Michigan. They operate 6 branches throughout the state and control just over $280 million in assets.
Credit Union of the Rockies, a Golden, Colorado-based institution, has built a solid reputation among its growing membership. With 3 branches and just over $120 million in assets, they’re on the smaller side, which allows them to maintain a strong community and member focus.
USALLIANCE Financial is a $2.7 billion credit union headquartered near New York City. They have a large and diverse membership that spans the nation and operate branches in New York, New Jersey, Connecticut, and Massachusetts.
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