Rocky Credit Union - Board Committees

Responsible for governance, human resources, and board development.

To act on behalf of the board on all matters which need to be dealt with between board meetings.
To recommend board and committee member remuneration and expense reimbursement.
To review the CEO’s performance and compensation, and recommend action to the board.
To recommend the selection and terms of engagement of legal counsel and other external professionals which may be engaged by the board
To organize board planning processes and recommend director and volunteer development programs.
To review and recommend governance policies and procedures, expect those that are the responsibility of other committees of the board.
To carry out responsibilities delegated by the board in policies or at meetings of the board.

Responsible for oversight of audit, finance, and risk management.

To oversee internal and external audit, including appointment of auditors and review of audit reports.
To review budget proposals and financial reporting prior to board presentation.
To recommend policies and policy amendments relevant to the management of all components of financial risk.
To review the credit union’s enterprise risk management process.

Responsible for the oversight of credit risk management.

To delegate operational credit duties to the credit union’s operational credit committee.
To analyze reports from the operational credit committee within the provisions of legislation and policy.
To review lending procedures and recommend lending policies.
To make decisions on very large credit applications which exceed 20% of Rocky Credit Union’s capital.

Responsible for the legal, ethical and functional responsibilities of the board.

To ensure adequate governance policy development.
To provide recruitment strategies, training programs, and evaluation of board members' performance.
To monitor board activities.