The Georgia Department of Banking and Finance referenced a quote from former President John F. Kennedy to remind credit union and bank boards of their responsibilities.
The agency is running a series titled Board Governance: The Essential Roles of Governance and Oversight in its monthly bulletin. The Kennedy quote reads "Leadership and learning are indispensible to each other." The Georgia DBF said the statement addresses "one of the essential elements of effective leadership: knowledge."
"In the context of leading a financial institution, not only are its leaders expected to establish tone at the top of the organization for high ethical standards and embody commitment to the service of communities and membership, but board members must fulfill the essential role of establishing a safe and sound governance framework and providing active oversight to their bank or credit union," the regulator said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
