CUES Director member Norbert C West Jr speaks from experience. The key to getting interest-rate risk management right, he says, lies in the balance of technical expertise, which comes from staff and outside experts, and common sense, which comes from the board. Today that means careful due diligence in the selection of a computer model that tows how interest rate changes would affect a CU's income, expense and net interest margins. With the right model and the right data, a CU is now expected to run a variety of what-if scenarios to show what would happen if rates changed by different amounts. Credit unions can also get more help from examiners. It's a board's responsibility to make sure the right tools are available for measuring and managing interest-rate risk, says William J. McGuire, Ph.D., president/CEO of McGuire Performance Solutions Inc. Consultants and vendors also offer a board-level introduction to the concepts and techniques behind interest-rate risk management.