Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

Amendments Nos. 88 and 90 reflect the changes in the functions of the board to include the appointment of a risk management officer and a compliance officer. The current wording provides that the manager of the credit union will carry out these functions. However, these functions are proper to the board so that is why they are being separated. These amendments delete the reference to the risk management officer or compliance officer having the necessary experience to manage the functions of the role. This does not need to be provided for here as these standards will be set out under the fitness and probity regime which will be agreed with the Commission on Credit Unions. These measures will be rolled out in credit unions over time and will take account of the nature, scale and complexity of a credit union.