Risk Management Software Solutions for Credit Unions

Credit union enterprise risk management is a hot topic these days. To conduct business efficiently and protect their reputation, credit unions must assess and control credit risk, interest rate risk, liquidity risk, strategic risk, and much more. Staying on top of these vulnerabilities demands a powerful and flexible risk management program. Our software solutions are designed to meet the needs of your highly regulated industry.

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Former CRO of Corporate One Federal Credit Union speaks about how LogicManager helped his credit union weather the 2008 recession.

Transform How You Think About Credit Union Risk

LogicManager’s platform is designed to alleviate the pain points in your credit union risk management processes so that you can focus on aligning and achieving operational and strategic goals across your organization.

LogicManager’s software and expert advisory services provide a risk-based framework and methodology with which to accomplish all of your risk assessment and governance activities, while simultaneously revealing the connections between those activities and the goals they impact.

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Experience Customized Risk Management Software for Credit Unions

Our flexible, fully integrated enterprise risk management (ERM) and governance risk and compliance (GRC) software for credit unions will infuse a culture of risk management across your entire organization, allowing you to mitigate critical risks while reducing time spent on overlapping compliance activities.

  • Identify the most critical risks across your organization with standardized, intuitive risk assessments.

  • Maintain a holistic view of your risk by linking controls to the departments, resources, and procedures they impact.

  • Avoid the penalties of non-compliance by leveraging our comprehensive regulatory risk libraries.

  • Report on board-level corporate objectives with easy to use, customizable reports and dashboards.

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Experience a Customized Credit Union Risk Management Solution

We’ve built our credit union risk management software with you in mind. Check out some of the pre-built, industry-specific content that comes with LogicManager. We’ve created these custom solutions to enhance enterprise risk management for credit unions.

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“I like the versatility of LogicManager as a risk management tool. The support that I receive is the best I have experienced. I still have much to learn but I am confident that I will be able to use LogicManager more effectively as I gain working experience.”

Jack Delaney, Enterprise Risk Management | Apple Federal Credit Union

Some of Our Credit Union Customers

Frequently Asked Questions About Credit Union Risk

Are you interested in implementing risk management solutions for your credit union? Consider these frequently asked questions.

Risk management for credit unions involves board leaders installing and managing safeguards to protect their members’ investments. Since new and emerging risks can affect credit unions, risk management considers which factors can prevent the credit union from achieving its goals.

Assessing risk appetite, identifying risks and developing an effective process for risk management is crucial. The board, staff and executive management must agree on this approach to effectively manage risk and pursue strategic planning while meeting their objectives.

Credit unions face various types of risks, including:

  • Compliance risk
  • Liquidity risk
  • Strategic risk
  • Credit risk
  • Reputation risk
  • Interest rate risk
  • Transaction risk

Some of these risks are internal and credit unions can control if they materialize, but others are external. While credit unions cannot control if a particular external risk materializes, they can control the mitigation activities they have in place.

Understanding these risks is crucial for the risk management process. This knowledge enabled credit unions to monitor and mitigate the risks that could prevent them from providing the best service for their members.

Credit unions need ERMs with these features to manage their risk:

  • Reporting and dashboards
  • Customizable home screens
  • Profile and visibility rules for documents
  • Automated reminders, alerts and tasks
  • Real-time risk intelligence
  • Out-of-the-box risk assessments for critical risk identification
  • Risk libraries for detecting vulnerabilities and assigning controls
  • Seamless integration with third-party applications

Enterprise resource management allows credit unions to leverage strong governance and performance to anticipate risks and improve business performance. LogicManager’s ERM software uses automated tools to assist with risk identification, reporting and monitoring. As a result, credit unions can spend more time managing their risks and less time working on administrative tasks.

Another software option for credit unions looking to mitigate risks is GRC software. These solutions collect all risk management, compliance and governance activities to simplify compliance, ease adherence to regulations and promote good governance. LogicManager’s GRC platform includes several solutions to assist with risk management, including:

  • Application risk management
  • Evidence and document collecting
  • Compliance risk assessment
  • Emerging operational risks

Book a Free DemoLearn How LogicManager’s ERM Software Can Help Transform Your Risk Management Program

Speak with one of our risk specialists today and discover how you can empower your organization to uphold their reputation, anticipate what’s ahead, and improve business performance through strong governance.

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LogicManager True Risk Dashboard