Every leadership team has a unique approach to risk. Some lean towards caution, while others embrace it head-on. This inherent "center of gravity" significantly influences how teams make decisions, especially in today's rapidly changing financial landscape. In this article, we'll explore the concept of risk profiles and how understanding your team's tendencies can lead to more effective risk management and ultimately, greater success. Two Sides of the Same Coin: "Wary" vs. "Composed" Imagine two teams facing the same challenge: transitioning to a digital-only banking model. Team Wary approaches the situation with caution, meticulously analyzing every potential risk and intricately planning each step. While this thoroughness can be an asset, it might also lead to indecision and missed opportunities. Team Composed exudes confidence and readily tackles the challenge head-on. Their optimism and decisiveness are valuable, but they might overlook c
In the fiercely competitive financial services landscape, credit unions face the ongoing challenge of not just surviving but thriving. Strategic planning, goal alignment, and performance measurement are more critical than ever. As a credit union CEO, you're tasked with steering your organization towards ambitious goals while ensuring a clear path to achieving them. This is where Objectives and Key Results (OKRs) can be your compass. OKRs offer a powerful framework for driving focus, fostering alignment, and enhancing accountability across the credit union. By integrating OKRs into your culture, you can unlock a new level of performance and gain a sharper competitive edge. Understanding OKRs Let's start with the basics. OKRs consist of two main components: Objectives: These are the overarching, qualitative descriptions of what your credit union aims to achieve. Think of them as your "north star" – ambitious, action-oriented, and aligned with your mission and vision. O