MONTHLY “ADVISORY”

This engagement allows your credit union to retain the services of Michael Sacher on an ongoing basis.  Mike will be on premises for one day/month to meet with management to discuss issues of importance.  With over 30 years of credit union experience, Mike can offer input and advice on a variety of accounting, strategic, internal control and governance topics.

Although primarily focused on serving as a resource to management, Mike can also attend your monthly Supervisory Committee and/or Board of Director meetings, so you will have the added comfort of knowing that your credit union has the benefit of a true “financial expert.”

Possible Objectives (to be determined at start of engagement and revised as appropriate):

  • Spend one day each month at the credit union to review issues of significance.
  • Meet with management team members to assess status of critical issues, such as loan underwriting, Allowance for Loan Loss analysis, composition of the investment portfolio, ALM, new accounting standards, governance, internal control structure and audit related issues.
  • Provide direction and oversight of Internal Audit function.  Serve as a resource to Internal Audit in developing and prioritizing the audit plan.
  • Attend monthly Supervisory Committee and/or Board of Director meetings to provide independent perspective on important issues.
  • Provide ongoing education to Management (and as requested to the Supervisory Committee and the Board of Directors) on financial, internal control, governance and industry issues of importance.
  • Coordinate all efforts directly with Management to ensure that issues of significance are appropriately identified and prioritized.

Benefits to Credit Union:

  1. Supplement the financial expertise of the management team, by having Mike Sacher involved in important financial and governance matters on an ongoing, monthly basis.
  2. Provide a “financial expert” as a resource to Management, the Supervisory Committee and/or the Board of Directors.
  3. Improved integrity of decision making, strengthened governance process, better risk mitigation.

If you are interested in discussing the Monthly Advisory Service,  please contact me.