Our Board maintains Committees that represent an essential part of our governance structure. Board Committees consist of PSECU Directors with relevant talent, skills, and knowledge who deliberate, perform detailed analyses, and hold robust discussions on key issues. These Committees increase Board efficiency by enabling the Board to accomplish more in Committee meetings rather than deliberating and acting on all matters as a full Board.
The Executive Committee is comprised of the Board Chair, Vice Chair, Treasurer, and Secretary/Assistant Treasurer. The primary function of the Executive Committee is to meet and act if the Board is unavailable, review corporate governance processes, obtain agreement with the Board on matters of discipline, and act as a liaison between the Board and PSECU President & CEO on matters of performance and development.
Board Asset Liability Committee (ALCO)
The Board Asset Liability Committee (Board ALCO) is comprised of four Directors who are appointed annually by the Board Chair. The primary function of the Board ALCO is to: (1) provide high-level oversight of the ALCO process; (2) review parameters for balance sheet management; and (3) ensure that PSECU stays within the established parameters.
The Audit Committee is comprised of four Directors who are appointed annually by the Board Chair. The primary function of the Audit Committee is to assist the Board in fulfilling its oversight responsibilities related to the adequacy and effectiveness of PSECU’s systems of risk management, internal control, governance, and the process for monitoring compliance with laws, regulations, and the Code of Ethics.
The Nominating Committee is comprised of all Directors who are not up for election and/or serving as PSECU's Board Chair. The primary function of the Nominating Committee is to ensure that nominated candidates meet the established criteria and have the potential to contribute to PSECU’s Governance Program and the success of the credit union.
Enterprise Risk Management Committee
The Enterprise Risk Management Committee is comprised of four Directors who are appointed annually by the Board Chair. The primary function of the Enterprise Risk Management Committee is to assist the Board with its oversight of PSECU’s ERM practices by: (1) recommending the ERM framework for Board approval; (2) contributing to the establishment of the Board’s Enterprise Risk Appetite; (3) overseeing efforts to identify, measure, monitor, and mitigate enterprise-wide risks; and (4) recommending the division of the Board’s risk oversight between the Board and its Board Committees.
The Talent/Compensation Committee is comprised of four Directors who are appointed annually by the Board Chair. The primary function of the Talent/Compensation Committee is to assist the Board with its oversight responsibilities relating to: (1) PSECU’s compensation philosophy; (2) PSECU’s Officials’ and President & CEO succession planning; and (3) leadership development of PSECU’s Officials and President & CEO.