Electric co-op boards are operating in what may be one of the most challenging business environments any generation of directors has ever known. The array of risks ranges from financial, regulatory, cyber and economic to technology and changing member demographics. This course is designed to provide directors with the principles and tools to improve their processes for overseeing the cooperative’s risk management activities. Using co-op examples and real world case studies, this interactive course discusses the unique role of board and management to identify, manage and mitigate risk with processes that are appropriate to the characteristics of individual cooperatives.
- Defining the cooperative’s risk drivers and risk appetite
- Distinguishing the board’s role from management’s role in risk management
- Aligning strategy, risks and controls
- Working with management to identify the risk information the board needs
- Assessing the cooperative’s risk management process