Supervisory Committee Job Description
Supervisory Committee Job Description
Role Overview
The Supervisory Committee (“the Committee”) of Everwise Credit Union is established in accordance with Indiana state regulations and the Credit Union’s Bylaws. Its primary purpose is to provide independent oversight of the Credit Union’s financial reporting, internal controls, risk management, and compliance practices. The Committee acts on behalf of members to ensure safe, sound, ethical, and compliant operation of the Credit Union and to supervise the actions of the Board of Directors and officers.
Fiduciary and Governance Responsibilities
The Committee is responsible for fulfilling all oversight duties prescribed by state and federal law, regulation, and the Bylaws. These responsibilities include ensuring:
- Compliance with the Indiana Credit Union Act, Bylaws, and applicable regulatory requirements.
- Integrity and transparency of financial reporting and accounting practices.
- Adequacy and effectiveness of internal controls and risk-management systems.
- Protection of members’ assets and interests.
- Ethical conduct across the Credit Union, including whistleblower safeguards.
- Sound governance practices by the Board of Directors and officers, ensuring strategic alignment with the Credit Union’s mission and long-term vision.
The Committee has broad authority to access records, systems, employees, auditors, advisors, and regulators as needed to execute these fiduciary obligations.
Key Duties and Responsibilities
- Financial Reporting & Internal Control
- External Audit Oversight
- Risk Management
- Internal Audit Oversight
- Compliance
- Member Account Verification
- Ethical Conduct
- Oversight of Board of Directors and Officers
Knowledge, Skills, and Abilities
Members of the Supervisory Committee should possess or develop:
- Understanding of financial statements, accounting principles, and auditing concepts.
- Familiarity with internal control frameworks and risk-management practices.
- Knowledge of state and federal credit union regulations.
- Ability to analyze complex information and ask probing questions.
- Independence, sound judgment, and ethical integrity.
- Ability to collaborate effectively with auditors, management, and the Board.
- Commitment to confidentiality and impartial oversight.
- A Certified Public Accountant within the Supervisory Committee membership.
Prerequisites
- Must use Everwise Credit Union as an active financial institution
- Must be and remain as a member in good standing of the credit union.
- Must be bondable.
- Independence from Credit Union management and absence of conflicts of interest.
- Elected or appointed in accordance with the Credit Union’s Bylaws.
- Eligible to serve under the Indiana Credit Union Act and internal governance requirements.
- Advisory Members (if appointed) must meet independence requirements and serve defined terms.
- Members may be removed for absenteeism or failure to perform required duties.
Time Commitment
- 4–6 hours per quarter for Committee meetings and preparation.
- 8–10 hours per quarter for ongoing education (additional time for new Members).
- Additional time as required for committee work, periodic meetings with auditors, and participation in Board discussions when appropriate.
Resources
- Indiana Credit Union Act
- ICUL Resources
- NCUA Examiner’s Guide
- National Association of Corporate Directors
- Filene Research Institute
How to Apply
Interested candidates are encouraged to submit:
- A current resume
- Relevant background materials or supporting information
Submit applications via email: [email protected]
Submission Deadline: July 3, 2026.
Applications and inquiries will be handled confidentially.
Subject to membership eligibility requirements. Loans subject to credit approval. Borrower must be a resident of Indiana or Michigan, and for home loans property must be in Indiana or Michigan. All credit union programs, rates, terms, and conditions may change without notice.