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Understanding the 3 Lines of Defense

November 30, 2021
11 am PT/ 12 pm MT/ 1 pm CT/ 2 pm ET

The Three Lines of Defense model provides a simple and effective way to enhance communications on risk management and control by clarifying essential roles and duties. This session will introduce and provide an overview of the three lines, how to effectively implement and integrate the lines throughout the organization, and how to successfully manage regulatory expectations as your credit union grows and increases in complexity. We will also discuss how to effectively communicate the functions of the lines and gain buy-in.  

This session is Council member-only.  Only register if you are a current CUNA Councils member.  

Meet Your Speakers:

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Scott Hood Scott Hood

Strategy, Risk and Assurance Partner

Rochdale

Scott Hood is a Strategy, Risk and Assurance Partner with Rochdale. He specializes in helping credit unions implement and improve their Enterprise Risk Management (ERM) processes. He has worked with the boards and management of credit unions of all sizes in identifying risk management objectives, tailoring processes to meet their needs, identifying and assessing exposures, developing reporting, implementing the organizational structures to support ERM, determining risk appetite, and taking actions to mitigate and capitalize on significant risk exposures and opportunities.

Scott also serves on the Farmers Insurance Board of Governors and Audit Committee. Prior to joining the Rochdale in 2008, Scott held senior positions with Ernst & Young, Swiss Re, and his own consulting firm. In addition to asset/liability and risk management, his background includes treasury management, financial operations, systems development and implementation, and consulting on a wide variety of financial and process improvement initiatives.

Scott holds a MBA in Finance and Accounting, as well as a BS in Mechanical Engineering, from the University of Kansas. 

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Preston Thompson Preston Thompson

Managing Director, FSO

Ernst & Young LLP

With almost 30 years of experience in the financial services industry, Preston brings perspective and experience as a banker, regulator and advisor. Currently Preston co-leads EY’s Credit Risk Management and coordinates all Risk related offerings across our South market segment. An industry leader with experience across credit risk management, stress testing including CCAR/DFAST, and risk management. Preston has an established track record of leading projects that cross business, risk, finance, and control functions and include efforts to build new capabilities or transform and optimize existing processes. Preston’s experience includes working with senior bank executives and boards of directors to understand firm goals and objectives and to design approaches to achieve near-term and strategic outcomes.

Preston joined EY in 2011 after more than 18 years within the Federal Reserve System. At the Fed he held a number of roles including System-wide leadership roles for large bank supervision and capital and stress testing implementation. Prior to that he held multiple roles at a large southeast regional bank including indirect lending and internal audit.

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