Credit Union Conduct Standards

Questions and Answers

What is the paramount principle that staff must maintain regarding confidential information?

Routine sharing

Public accessibility

Discretion (correct)

Transparency in communication

Who should staff consult for guidance on the interpretation of the Code?

Their peers

Supervisors or the Head of Risk & Compliance (correct)

The Executive Board of Directors

The Credit Union's members

What must staff do to maintain compliance with legal and regulatory standards?

Accept any outside employment without prior approval

Ignore minor violations if they are not detected

Only report issues that affect their immediate workgroup

Dedicate all activities to the Credit Union's service (correct)

What mechanism should staff use to report concerns regarding compliance?

Utilizing institutional channels like the Internal Complaints Policy Signup and view all the answers

Which of the following actions is explicitly discouraged for Credit Union staff?

Accepting unauthorized external employment Signup and view all the answers

What department is responsible for overseeing adherence to the Code?

Risk & Compliance Department Signup and view all the answers

Study Notes

Conduct Standards

Highest standards of conduct expected both inside and outside the workplace.
Adherence to laws, regulations, rules, and internal policies is mandatory.
Commitment to serving the Credit Union's interests in all working activities.

Conflict of Interest

Avoid any actions that could lead to conflicts of interest.
Declaration of potential conflicts is required.
External employment or functions must receive prior authorization.

Confidentiality

Maintain strict discretion regarding confidential information related to the Credit Union.

Core Principles for Staff

Integrity and Professionalism: Essential to act with honesty, impartiality, and diligence.
Judgment and Care: Sound judgment is crucial; consult supervisors for guidance when needed.

Reporting and Compliance

Utilize the Internal Complaints Policy for reporting concerns safely.
Risk & Compliance Department monitors adherence to the Code and associated policies.

Dispute Resolution

Disputes regarding compliance with the Code will be resolved by the Executive Board of Directors.

Description

This quiz evaluates your understanding of the conduct standards expected from staff at the Credit Union. You'll learn about compliance with laws, avoiding conflicts of interest, and maintaining professionalism both at work and beyond. Test your knowledge of the principles essential for upholding the Credit Union's values.