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74 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Why do we advocate? |
If we don't advocate for the Credit Union movement, then who will? |
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What makes a good advocate? |
A good advocate is knowledgeable, involved, willing, and passionate. |
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What is the goal of advocacy? |
To revolutionize the environment for credit unions to serve their members through the removal of regulatory barriers and expansion of credit union powers and opportunities. |
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How do we advocate? |
The Member Activation program (MAP), Project Zip Code, and Hike the Hill. |
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A key point about advocacy |
Building relationships are key; may take longer than you want. |
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What are two ways succession occurs? |
Emergency & planned |
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What are two ways succession emergency / contingency can be completed? |
1. The organizations next steps without you i.e. Leadership develop that leads to your chair 2. Your next steps, without the organization. i.e. Financial, network/influence, resume, opportunity |
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Based on the Forbes article, what is the percentage & the path to CEO? |
32% of Fortune 100 CEOs held the post of CFO. The career path is finance. |
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What are the 8 factors for Advancement? |
1. Experience 2. EQ, Emotional Intelligence 3. FQ, Financial Knowledge 4. BQ, Business Acumen 5. Education 6. Involvement 7. Influence 8. Communicate/Advocate/Negotiate |
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What occurs when we feel judged or attacked? |
The Amygdala Hijack Our ability to apply reason & logic can drop by 75%. |
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What does the DISC model do? |
Provides a framework for understanding your natural behavior style patterns, communication preferences, and tendencies. Helps you better understand and relate to others, reduce conflict, connect and influence more effectively, and build better relationships based on an understanding of styles and needs. |
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According to Lencioni, what are the traits/behaviors of a cohesive & high performing team? |
Trust One Another Engage in Conflict around ideas (not people) Demonstrate Commitment Hold one another accountable Focus on achieving results. |
There are 5 |
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When we go up the ladder making assumptions, this is known as what? |
The Ladder of Inference |
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What is the FEDs dual mandate? |
1. Grow the economy to ensure maximum employment 2. Promote stable prices (manage inflation) |
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What is monetary policy? |
Economic growth influenced by changing the supply of money & changing interest rates. |
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What is Fiscal policy? |
Economic growth influenced by taxation and government spending. |
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What are murdered by the Federal Reserve? |
Economic expansions are murdered by the Federal Reserve. |
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Who conducts the Monetary policy? |
The Monetary policy in the U.S. is conducted by the Federal Reserve's Federal Open Market Committee (FOMC) |
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What percent of GDP is personal/consumption expenditure? |
70% of GDP is personal/consumption expenditure. |
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What do most U.S. policies aim to influence? |
Most policies aimed to influence U.S. economic results are aimed at changing consumer behavior because personal consumption activity accounts for over 2/3 of U.S. economic activity. |
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Why has the FED refrained from further interest rate increases? |
The FED has refrained from further interest rate increases due to the possible negative effects of government shutdown, a weak world economy, and the threat of trade war. |
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The culture, capabilities, and practices that organizations integrate with strategy-setting and apply when they carry out that strategy with a purpose of managing risk in creating, preserving, and realizing value is known as what? |
Enterprise Risk Management |
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What is the ultimate goal of ERM? |
Improved organization decision making and performance through better, more timely information. |
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What is inherent risk? |
Impact * Likelihood The exposure before responses The measure of the probability weight or expected annual exposure before considering the area's risk response. |
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What are the 7 NCUA defined Primary Risk categories? |
Strategic Operational/Transactional Credit Interest Rate Liquidity Compliance Reputation |
There are 7 |
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ERM is NOT what? |
ERM is not a one time project |
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In ERM, what is Impact? |
The potential effect, in the absence of the area's responses, of the risk exposure on net income |
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In ERM, what is Likelihood? |
The probability that an event may occur in a given time period, in the absence of responses. |
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In ERM, what are Responses? |
Responses are the actions the credit union takes to mitigate or manage the particular risk exposure |
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In ERM, what is Mitigation? |
The degree to which the organization's responses manage down the impact or likelihood. |
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What are the objectives of ERM? |
Identify and manage a broad array of threats, risks and opportunities surrounding the achievement of goals and objectives Establish a structure and process that engages personnel across the organization and creates space to identify, communicate and prioritize risks and opportunities Provide senior leadership with key information Develop & implement appropriate risk response plans Encourage responsibility of all personnel to incorporate a balanced risk-reward analysis in everyday activities Maximize opportunities Protect and foster a collaborative, entrepreneurial and innovative environment (value preservation and creation) |
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What is residual risk? |
Exposure after response Measure of the expected annual exposure to the risk event after considering risk responses |
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What is Risk appetite? |
The amount of risk, on a broad level, an entity is willing to accept in pursuit of value |
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What is the Board's role in ERM? |
Establish & oversee strategy to maximize organizational value in a prudent and financially sound manner Set risk culture and tone |
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What is Ransomware? |
Ransomware is an attack on the availability of your systems |
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What are the standards based operations from governance or compliance framework? |
GLBA, FFIEC, regulatory required PCI-DSS, contractual obligation CIS controls, NIST |
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What is 1 of the 6 basic CIS controls? |
Controlled use of Admistrative Privileges |
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Cybersecurity is NOT what? |
Cybersecurity is not a one time project |
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Where is the evidence? |
The evidence was in the audit logs |
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What are Covey's 4 zones of change? |
Status Quo Disruption Adoption Innovation |
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What is Intrapreneurship? |
A corporate employee who develops new enterprises within the corporation |
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What are the 9 building blocks of the Business Model Canvas (BMC)? |
Customer segments Value proposition Channels Customer Relationships Revenue Streams Key Resources Key Activities Key Partners Cost Structure |
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What is the Value Proposition Canvas? |
Customer Profile Value Map |
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A set of attitudes, skills and behaviors that can be trained is called what? |
The Entrepreneurial mindset |
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What is the Customer Profile? |
A way to evaluate a particular customer segment and it is made up of gains, pains and customer jobs |
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What is the Value Map? |
A way to test your value proposition and consists of products and services, gain creators and pain relievers |
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What is Customer Development? |
Consists of the Build, Measure, Learn, Feedback loop |
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What is a measure of reputation? |
The Net Promoter Score |
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What is the most trusted form of marketing? |
Word of mouth |
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What are 2 ways to target an audience? |
Demographics Physchographics |
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What is the brand filter? |
The one thing that keeps you different |
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What is the real definition of your brand? |
Your reputation |
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What are the 5 steps to become "tattoo worthy"? |
Target an audience, not a territory Listen to your target Know your competition for your target Make them irrelevant Be loyal to your target |
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What key ratios indicate your reputation may be suffering? |
Low loan-to-share Low loan approval ratio Average age of borrower Low delinquency ratio High fee income compared to total loan income Net membership growth Member satisfaction scores |
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What does research show leaders do? |
Leaders take risks, are self aware and are authentic |
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What does empathy involve? |
Empathy means deeply connecting with another's feelings to the point that we feel another's feelings in a non judgemental way |
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What does courageous leadership require? |
Courageous leadership requires us to wrestle with vulnerability |
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What does journaling do? |
Journaling enhances your overall health and well being , enables you to be more empathetic, increases your emotional Intelligence and reduces stress |
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How do you own it? |
Own your career, own your leadership. A key place to start is understanding the human you are |
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What is active listening? |
Active listening is proving your understanding of another's facts and feelings |
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What are the 3 characteristics of effective listening? |
Acceptance Genuineness Empathy |
AGE |
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What are 3 elements of the Confrontive I message? |
1. A specific, non blameful description of the other's behavior 2. The concrete, tangible effect of the behavior on you 3. Your real feelings about those effects |
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Why does praise fail? |
Praise fails because it lacks sincerity and specificity |
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What are the 3 components of burnout? |
Depersonalization Emotional exhaustion Lack of personal achievement |
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What is depersonalization? |
Depersonalization occurs when you stop seeing people as individuals |
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What is the Fundamental Attribution Error? |
The Fundamental Attribution Error is a hard wired bias and the #1 reason relationships break |
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What percentage of workers are disengaged? |
53% of workers are not engaged |
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What percent of employees do not fully understand the company's goals or what's expected of them to achieve the company goals? |
95% of employees |
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What is grit? |
Grit is the combination of passion and perserverence for an important goal and is the hallmark of high achievers in every domain |
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What do constraints cause? |
An organization to operate more efficiently and a manager to become more innovative, creative and resourceful |
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What is the root of happiness? |
Having rich social bonds and meaningful relationships |
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Who are allies? |
Allies are people who encourage, inspire, support, empower, hold accountable, provide good friction and test you to be the best version of yourself. |
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Who are thieves? |
Thieves are NOT people who encourage, inspire, support, empower. Hold accountable, provide good friction and test you to be the best version of yourself. |
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What is the Business Impact Analysis? |
The Business Impact Analysis defines priority for restoration and includes definition of recovery point objectives |
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