October 2011

Director competencies and the new DICO Guideline have received input from the credit unions.  How this will affect change to the guideline is being reviewed by DICO.   Feedback that Level Five received regarding the guideline included issues such as timing, transition, costs, levels of competencies required, and variations of levels of competencies.

Enterprise Risk Management Ontario Group (ERM OG) is planning to start in November.  Its first meeting will establish the timelines and deliverables for implementation of ERM in 2012.  The ERM model is not only scalable to meet the various complexities of the various participants it is a model that will grow as the credit union grows in complexity.

Level Five and CU Training will be launching its online Director Training program in November.   This program is designed to provide focused director training for the Ontario credit union regulatory environment and will meet the competency requirements set by the DICO guideline.