Risk & Compliance

Effective risk management involves embracing uncertainty and seeking opportunity in areas where there are appropriate skills and resources to manage the risk to maturity.

At RBK, our outsourced risk management function can help your credit union to effectively manage those risks that might otherwise threaten financial stability and long-term viability. Our dedicated team works with the wider management team to proactively identify, assess and monitor risk through a formally documented and approved risk management plan and strategy.

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At RBK, we support and advise Credit Unions to strengthen and embed their risk management framework:

  • Benchmarking your risk management framework against current best practice and regulatory expectations
  • The development and implementation of a comprehensive risk register
  • Conducting detailed risk assessments
  • Review the adequacy and appropriateness of internal controls

We also provide a fully outsourced risk management function and deliver risk management training for both the Board of Directors and Management Team.

Risk management should be integrated into the daily operations and strategic decision-making of your credit union. Our team will help you ensure that your risk management strategy is practical, clearly documented and effectively communicated throughout your credit union.

Compliance

The compliance function plays a central role in supporting the Board to meet its regulatory obligations through ongoing monitoring of adherence to the Credit Union Act 1997 (as amended), associated regulations and other applicable legislation.

At RBK, we have developed a risk-based approach to the delivery of an effective compliance framework. Our team will work with you to develop a compliance monitoring plan that is delivered at regular intervals and which provides a practical approach to assessing compliance.

All Credit Unions are required to submit an annual compliance statement to the Central Bank setting out whether or not they are compliant with Part IV of The Credit Union Act 1997 (as amended).

As part of the outsourced function, we maintain a detailed breach register, which is updated quarterly to monitor areas of non-compliance.

We agree clear remediation timelines with the Board and escalate matters promptly where deadlines are not met. Our team then works alongside you to ensure corrective actions are implemented effectively and sustainably.

For further information or to discuss your Credit Union’s specific requirements, please contact a member of our team.

Team members

A woman with short, reddish-brown hair smiles at the camera. She is wearing a navy blue blouse and a gold chain necklace. The background is softly blurred in blue and grey tones. Michelle O’Donoghue

Governance, Risk and Assurance Partner

Tel: +353 90 6480600
A man with light brown hair, wearing black glasses, a grey suit, a blue striped shirt, and a red tie with white spots, stands in front of a blurred office background, smiling slightly at the camera. Ronan Kilbane

Audit & Business Advisory Partner

Tel: +353 1 6440100
A woman with straight, shoulder-length light brown hair and a green textured top smiles at the camera. The background is softly blurred with greenery and natural light. Yvonne Clarke

Head of HR Solutions

Tel: +353 90 6480600

Get in touch

At RBK, we provide our clients with high-quality technical and commercial solutions that are responsive, relevant and practical.

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