The Strategy and Risk Committee (SRC) assists the Board of Directors in fulfilling its oversight responsibilities for strategic planning and the enterprise-wide risk management framework of the Association. The SRC is composed of the Board’s Vice Chair and at least two additional Board members. In addition, the Association CEO and at least two members of senior management shall attend every SRC meeting but shall not serve as members of the committee. On average, this committee holds four meetings annually. The SRC’s responsibilities include, but are not limited to, the following:

  • Collaborate with management on the development and periodic update of the Association’s overall strategy, business objectives, and strategic initiatives;
  • Discuss and present recommendations to the Board related to the Association’s mission, vision, risk appetite, and major programs;
  • Develop Association’s merger criteria and evaluate potential merger partners;
  • Oversee that management has identified and assessed the risks the Association faces;
  • Ensure risk is appropriately considered in strategy setting;
  • Coordinate the risk oversight activities of the various standing committees of the Board;
  • Coordinate with the Audit Committee to understand how the Association’s internal audit plan is aligned with its key risks; and
  • Recommend to the Board policies governing enterprise risk management.