Hudson Valley Credit Union
Supervisory Committee
Hudson Valley Credit Union, Poughkeepsie, New York, United States, 12600
External Overview
The following provides information on the primary role and essential responsibilities/accountabilities you will have as a member of the Hudson Valley Credit Union Supervisory Committee. In addition, a list of desired skills, characteristics and competencies are included, along with a link to more information. We appreciate all of our members who are willing to donate their time and talent to enhance our financial cooperative.
Applications will close 5:00 pm ET Friday, June 13, 2025.
External Qualifications
Each candidate must be at least 18 years of age to hold office. Each candidate must be a member who has not caused a financial loss to HVCU and/or is not in denial of services. A member is defined as the primary owner of a primary savings account. Each candidate must have a satisfactory credit check, a background check, a bondablity check, and must not have been convicted of a felony or a crime involving dishonesty or breach of trust, nor have been determined to be guilty of a fraudulent act by a legally constituted body. Each candidate must state his or her willingness to serve if appointed. Candidates cannot have been an HVCU employee within a minimum of two years from the application received date. Each candidate is prohibited from engaging in any act which is, or could be, or could appear to be in conflict with their status as a volunteer. This includes the use of one's position with the credit union for personal profit or advantage.
External Responsibilities
Primary Role:
Responsible for ensuring that the board of directors and management of the credit union meet required financial reporting objectives and establish practices and procedures sufficient to safeguard members' assets. In a constructive partnership among the Supervisory Committee, Board, the Chief Executive Officer (CEO) and Senior Management, govern the credit union and ensure that policies, procedures, and internal controls are established, effectively maintained, and properly administered. Responsible for the annual external financial statements audit, the internal audit function, verification of members' accounts, ensuring the credit union meets its filing obligations with its regulators, and other responsibilities as defined by law to safeguard against error, conflict of interest, self-dealing and fraud.
Stewardship, Ethics & Financial Integrity Maintain, monitor and protect the safety and soundness of the Credit Union and its assets. Ensure the proper maintenance and security of all assets, accounts and written information entrusted to the credit union. Ensure that the credit union acts in accordance with all regulatory requirements and institutes all required changes to its accounting, financial and regulatory practices. Ensure that the credit union acts ethically and with genuine financial integrity, consistent with a cooperative, non-for-profit institution. Ensure ongoing monitoring and compliance with all laws, rules, and regulations applicable to the credit union and its activities. Governance and Leadership
Effectively help to govern and lead the Credit Union in constructive partnership with the Board, CEO and Senior Management. Maintain effective relationships with all elements of the credit union's governance structure (the full Board, and the CEO and Senior Management) while simultaneously maintaining an independent stance. Act at all times in good faith and in a manner that is in the best interests of all the credit union's members. Review and ensure that the credit union's critical accounting policies and practices are in place and effective, including a Code of Ethics. Ensure an effective, timely, coordinated, and accountable governance system. Risk Management
Effectively monitor and review the overall risk assessment and control framework for the credit union. Effectively monitor and review the overall risk profile for the credit union. Effectively monitor and review the risks identified by Management and Board. Effectively review summary of emerging risks and new significant risks identified by Management and Board. Internal Audit Function
Review and approve the annual internal audit plan, including the annual SC Work-plan, Terms of Reference and Internal Audit Charter. Review the effectiveness of the credit union's internal audit function and make recommendations to the Board to address any deficiencies. Review the internal and external third party audit reports and management action plans. External Auditors and Advisors
Retain independent auditors, accountants and legal or governance advisors as needed and in consultation with the Board. Review the annual audited financial statements, management letter and action plans. Review key matters that may have a "material impact on the financial statements." Review and approve the audited financial statements for the Annual Report. Financial Performance and Results
Understand applicable financial reporting and accounting practices. Help to ensure the reliability and integrity of the credit union's financial statements and reporting processes. Monitor the credit union's financial safety and soundness. Ask substantive questions and provide high-level feedback, recommended policy changes and suggestions to the CEO and Senior Management to enhance the credit union's financial performance and results. Credit Union Membership
Ensure that there is an effective system in place to receive, synthesize and review member complaints and concerns. Support and participate - when appropriate - in the credit union's community outreach efforts and activities. Strategic Thinking, Learning and Planning
Support and regularly participate in a leadership culture that regularly engages in effective strategic thinking, learning and dialogue. Support the vision, mission, and values of the credit union, and encourage a regularly updated set of strategic goals, objectives, risk profile and metrics of success. Demonstrate personal and sustained commitment to the credit union's cooperative and not-for-profit values. Desired Skills, Characteristics and Competencies
Internal Audit and Risk Management (minimum 10 years) Accounting/Financial Reporting (minimum 10 years) Operational Risk Management (minimum 5 years) Credit Risk Management (minimum 5 years) Cyber Security (minimum 3 years) A designation of CPA, CA, CISA, or CFA is a plus.
Additional Resources Material National Credit Union Administration's Rule 715 lists the responsibilities of Federally Insured Credit Union Supervisory Committees FAQ.
The following provides information on the primary role and essential responsibilities/accountabilities you will have as a member of the Hudson Valley Credit Union Supervisory Committee. In addition, a list of desired skills, characteristics and competencies are included, along with a link to more information. We appreciate all of our members who are willing to donate their time and talent to enhance our financial cooperative.
Applications will close 5:00 pm ET Friday, June 13, 2025.
External Qualifications
Each candidate must be at least 18 years of age to hold office. Each candidate must be a member who has not caused a financial loss to HVCU and/or is not in denial of services. A member is defined as the primary owner of a primary savings account. Each candidate must have a satisfactory credit check, a background check, a bondablity check, and must not have been convicted of a felony or a crime involving dishonesty or breach of trust, nor have been determined to be guilty of a fraudulent act by a legally constituted body. Each candidate must state his or her willingness to serve if appointed. Candidates cannot have been an HVCU employee within a minimum of two years from the application received date. Each candidate is prohibited from engaging in any act which is, or could be, or could appear to be in conflict with their status as a volunteer. This includes the use of one's position with the credit union for personal profit or advantage.
External Responsibilities
Primary Role:
Responsible for ensuring that the board of directors and management of the credit union meet required financial reporting objectives and establish practices and procedures sufficient to safeguard members' assets. In a constructive partnership among the Supervisory Committee, Board, the Chief Executive Officer (CEO) and Senior Management, govern the credit union and ensure that policies, procedures, and internal controls are established, effectively maintained, and properly administered. Responsible for the annual external financial statements audit, the internal audit function, verification of members' accounts, ensuring the credit union meets its filing obligations with its regulators, and other responsibilities as defined by law to safeguard against error, conflict of interest, self-dealing and fraud.
Stewardship, Ethics & Financial Integrity Maintain, monitor and protect the safety and soundness of the Credit Union and its assets. Ensure the proper maintenance and security of all assets, accounts and written information entrusted to the credit union. Ensure that the credit union acts in accordance with all regulatory requirements and institutes all required changes to its accounting, financial and regulatory practices. Ensure that the credit union acts ethically and with genuine financial integrity, consistent with a cooperative, non-for-profit institution. Ensure ongoing monitoring and compliance with all laws, rules, and regulations applicable to the credit union and its activities. Governance and Leadership
Effectively help to govern and lead the Credit Union in constructive partnership with the Board, CEO and Senior Management. Maintain effective relationships with all elements of the credit union's governance structure (the full Board, and the CEO and Senior Management) while simultaneously maintaining an independent stance. Act at all times in good faith and in a manner that is in the best interests of all the credit union's members. Review and ensure that the credit union's critical accounting policies and practices are in place and effective, including a Code of Ethics. Ensure an effective, timely, coordinated, and accountable governance system. Risk Management
Effectively monitor and review the overall risk assessment and control framework for the credit union. Effectively monitor and review the overall risk profile for the credit union. Effectively monitor and review the risks identified by Management and Board. Effectively review summary of emerging risks and new significant risks identified by Management and Board. Internal Audit Function
Review and approve the annual internal audit plan, including the annual SC Work-plan, Terms of Reference and Internal Audit Charter. Review the effectiveness of the credit union's internal audit function and make recommendations to the Board to address any deficiencies. Review the internal and external third party audit reports and management action plans. External Auditors and Advisors
Retain independent auditors, accountants and legal or governance advisors as needed and in consultation with the Board. Review the annual audited financial statements, management letter and action plans. Review key matters that may have a "material impact on the financial statements." Review and approve the audited financial statements for the Annual Report. Financial Performance and Results
Understand applicable financial reporting and accounting practices. Help to ensure the reliability and integrity of the credit union's financial statements and reporting processes. Monitor the credit union's financial safety and soundness. Ask substantive questions and provide high-level feedback, recommended policy changes and suggestions to the CEO and Senior Management to enhance the credit union's financial performance and results. Credit Union Membership
Ensure that there is an effective system in place to receive, synthesize and review member complaints and concerns. Support and participate - when appropriate - in the credit union's community outreach efforts and activities. Strategic Thinking, Learning and Planning
Support and regularly participate in a leadership culture that regularly engages in effective strategic thinking, learning and dialogue. Support the vision, mission, and values of the credit union, and encourage a regularly updated set of strategic goals, objectives, risk profile and metrics of success. Demonstrate personal and sustained commitment to the credit union's cooperative and not-for-profit values. Desired Skills, Characteristics and Competencies
Internal Audit and Risk Management (minimum 10 years) Accounting/Financial Reporting (minimum 10 years) Operational Risk Management (minimum 5 years) Credit Risk Management (minimum 5 years) Cyber Security (minimum 3 years) A designation of CPA, CA, CISA, or CFA is a plus.
Additional Resources Material National Credit Union Administration's Rule 715 lists the responsibilities of Federally Insured Credit Union Supervisory Committees FAQ.