Holistic financial services to create deeper banking relationships

Transcription

DECEMBER 2014
WISCONSIN BANKERS ASSOCIATION
Harness the Silver
Lining of
Compliance
By Amber Seitz
The recent Bank Director
2014 Growth Strategy
Survey by BankDirector,
released in October,
surveyed 145 independent
directors and senior
executives at banks of
all sizes across the
country to explore banks’
approaches to growth
FOUNDED 1892
and profitability. The survey
found, unsurprisingly, that
regulatory compliance
remains the greatest
business concern for most
executive level bankers. In
fact, 68 percent of survey
respondents indicated
compliance as one of
their primary pain-points.
However, banks that
choose to use regulatory
compliance pressure
to their advantage are able
to reduce employee stress
levels while increasing
customer satisfaction.
How do they do it? By
adopting a different mindset
toward compliance.
(continued on p. 25)
Mindset, communication both key to making regulatory pressure work for you
Holistic financial services to create deeper banking relationships
By Amber Seitz
Wealth management is
a large, complex field,
but – distilled to its core
– it could be described
as experts using their
own financial acumen
to help their customers
achieve their financial
goals. That customer
service motivation aligns
itself very well with the
mission of the banking
industry in general.
“Banks have been doing
wealth management for
a very long time because
it’s a natural extension
of what bankers already
do,” said Mark Fedenia,
associated professor
and director of the
Wealth Management
and Financial Planning
program at the Wisconsin
School of Business at
UW-Madison.
More than just
another source of
management should
consider several potential
drawbacks before
introducing or expanding
wealth management
and financial planning
GEAR UP
Your Bank’s Wealth
Management
Services
noninterest
income, a
successful
wealth management
services program can
set a bank apart from
the competition and
increase its customer
base over time.
However, bank
services as part of
the bank’s repertoire.
Decision makers must
identify and account
for potential benefits
and risks in order
to accurately weigh
whether or not wealth
management is a good
fit for the institution.
Benefits of Wealth
Management
Services
Technological
advances and changing
consumer behaviors
over the past decade
have led to the increasing
commoditization of
banking products. Until
relatively recently,
customers expected to
maintain a relationship
with their banker
in order to open an
account, make deposits
and withdrawals, and
obtain credit. Today,
these and other banking
products and services are
delivered to consumers
online in a much less
personal manner,
which places the bank
in the role of product
provider rather than
trusted advisor. Wealth
management products
have, because of their
complex nature, avoided
that commoditization.
> IN JANUARY <
Economic
Outlook from
Industry Experts
Banking as an
economic sector has
been in a state of
flux in recent years.
Worldwide economic
uncertainty, developing
technologies and
changing consumer
habits have all impacted
the industry. And
Wisconsin’s banking
industry isn’t the only
sector experiencing
change. It’s critical that
bankers understand
how shifts in other
sectors – including
real estate, agriculture,
health care, technology
and manufacturing –
impact their institutions.
Experts from each
of those sectors have
contributed their
insight to the WBA
Wisconsin Economic
Report, which will be
included in the January
edition of Wisconsin
Banker as a special
insert. The report will
also be available as
a standalone digital
publication.
UMS
Madison, WI 53718
4721 South Biltmore Lane
Wisconsin Bankers Association
PAID
U.S. POSTAGE
PRSRT STD
2
DECEMBER 2014
Find the Silver Lining
By Robert J. Cera
It’s that time of year again. It’s
dark, there’s snow everywhere,
and year-end financials are due
for many of us. However, it’s
also the holiday season where
we spend time with family and
friends. The old saying goes,
“For every dark cloud, there is
a silver lining.” That is true of
many things in banking as well
as in life. One area where bankers
often have difficulty finding the
silver lining is compliance.
It’s no surprise that compliance causes stress. Banks must
adhere to thousands of pages
of laws and regulations and
undergo intense scrutiny during
exams. However, this crucible
also gives banks that are
willing to look for the silver
lining a competitive advantage.
When management and
compliance personnel take
the time to explain to all bank
employees that compliance
rules and procedures are meant
Message from
the Chair
Robert J. Cera
to help the bank succeed, it
can become a motivational tool
for staff and strengthen the
compliance culture of the bank.
Knowing that their actions impact
the entire institution encourages
every employee to take greater
ownership of their role.
When bank employees
understand their role in
regulatory compliance they can
provide their customers with
a better experience, too. For
example, rather than focusing
on the added paperwork of new
mortgage regulations, use the
changes as an opportunity to
educate your customers
about their financing options.
Situations where mortgage
bankers more proactively
engage and interact with their
customers result in a higher
level of customer confidence,
often leading to greater trust,
a deeper relationship and a
better overall experience for
the customer.
Another area of the bank
that is often impacted by
compliance is in the development, marketing and launch of
new technology products and
services. Whether your bank
is launching a mobile banking
app or starting to engage in
online account opening, there
are a host of disclosures, privacy
notices and other regulatory
requirements to consider. Again,
you can find the silver lining
by using the opportunity to more
fully engage employees and
customers. Encourage employees
to use the new product as a
customer, which in turn will
help them better understand the
customer experience.
Technology is one area
of banking that will change
dramatically over the next 10
to 15 years. Data collection
and analysis, economics and
consumer lifestyles will also
change. To better appreciate
what banking may look like in
20 years, and to better ensure
your bank is ready to succeed
in that new environment,
consider joining me at the
2015 WBA Bank Executives
Conference. The conference
will be held Feb. 2-4 at The
Pfister Hotel in Milwaukee,
and will feature several expert
speakers. You can read a preview
of one session with Futurist
Jack Uldrich on page 11 of this
issue. For more information
about the conference, or to
register, please visit www.
wisbank.com/BEC.
Cera is president and CEO of
Baylake Bank, Sturgeon Bay and
the 2014-2015 WBA Chair.
DECEMBER 2014 3
4
DECEMBER 2014
What November’s Election Results Mean for Banks
By Mike Semmann
and Jay Risch
L EGISLATIVE U PDATE
On the State Level:
Governor Scott Walker
defeated Democrat Mary
Burke by both a margin and
vote total quite similar to his
initial 2010 and 2012 recall
election victories. Republican
Brad Schimel defeated
Democrat Susan Happ in the
race for Attorney General.
Republicans strengthened
their majorities in both
houses of the Wisconsin
Legislature. An 18-15 GOP
majority in the Senate has
grown to 19-14. A 60-39
Republican majority has
ballooned to 63-36 in the
Assembly. One of those
Mike Semmann
Jay Risch
new members in the State
Assembly is Terry Katsma
(R-Oostburg), a career
community banker.
On the Federal Level:
Republicans won more
than enough seats to take away
the majority in the U.S. Senate
from Democrats (neither of
Wisconsin’s U.S. Senate
seats was up in 2014). Each
incumbent in Wisconsin’s
congressional delegation was
reelected handily and State
Senator Glenn Grothman
(R-West Bend) defeated
Democrat Mark Harris in
the race for the open 6th
Congressional District. Republicans also gained seats in the
U.S. House of Representatives
and now enjoy their largest
majority there since 1928.
What Does it All Mean for
Wisconsin Banks?
On the state level, a
pro-banking Governor and
pro-banking legislature means
WBA’s legislative priorities
have a good chance of
moving in Madison. Just as
importantly, the odds of many
bad, anti-banking bills getting
significant traction for the next
two years are now low.
WBA has every reason to
believe Rep. Dave Craig
(R-Big Bend) will again chair
the Assembly Committee on
Financial Institutions in the
2015-2016 state legislative
session. 2013-2014 Senate
Committee on Financial
Institutions chairman Sen. Dale
Schultz (R-Richland Center)
did not run for reelection, so
that committee will have a new
chairman for sure next term.
It is no secret that Gov.
Walker is exploring a possible
run for President in 2016. Will
Lt. Gov. Rebecca Kleefisch
(continued on p. 7)
Lots of New
Faces in the State
Legislature
High turnover has been the norm in the last several election cycles and 2014 was no exception.
That means bankers must start the process of educating these lawmakers-to-be now. Don’t just
assume your new legislator understands the current regulatory burden on the industry or the
positive impact your bank has on the economy in your community. These are things we must tell
them. Now is a great time to write a quick congratulatory letter to your new elected officials and
invite them into your bank! Contact WBA Director of Government Relations Jay Risch if you want
help participating in WBA’s Take Your Legislator to Work program.
 The 25 new faces in the 99-member State Assembly:
Dist.
Rep.
Party/Home
County/Area
1 Joel Kitchens
R-Sturgeon Bay Door/Kewaunee
4 David Steffen
R-Howard
Green Bay area
10 David Bowen D-MilwaukeeMilwaukee
19 Jonathan BrostoffD-Milwaukee Milwaukee
22 Janel Brantjen
R-Menom. Falls Menom. Falls area
26 Terry Katsma
R-Oostburg
Sheboygan area
27 Tyler Vorpagel
R-Plymouth
Parts of Manitowoc/
Sheboygan
28 Adam Jarchow
R-St Croix Falls Northwest Wisc.
33 Cody Horlacher
R-Mukwonago Southeastern Wisc.
45 Mark Spreitzer
D-Beloit
Parts of Green/Rock
51 Todd Novak
R-Dodgeville
Southwestern Wisc.
55 Mike Rohrkaste
R-Neenah
Neenah area
57 Amanda StuckD-Appleton Appleton/Menasha
58 Bob Gannon
R-West Bend
West Bend area
59 Jesse Kremer R-KewaskumHartford/north
rural parts
60 Rob Brooks
R-Saukville
Port Washington/
Cedarburg area
70 Nancy Vandermeer R-Sparta
Central Wisconsin
74 Beth Meyers
D-Bayfield
Northwoods area
75 Romaine Quinn
R-Rice Lake
Northwestern Wisc.
State Assembly: (continued)
Dist.
78
81
85
87
88
97
Rep.
Lisa Subeck
David Considine
Dave Heaton
James Edming
John Macco
Scott Allen
Party/Home
County/Area
D-MadisonMadison
D- Portage
Baraboo area
R-Wausau
Wausau area
R-Glen Flora
Northwestern Wisc.
R-Green Bay
Green Bay area
R-Waukesha
Waukesha area
 In the State Senate, the turnover was even more pronounced.
Even though only 17 of the body’s 33 seats were up for election
last month, there will be 7 new Senators sworn in January 2015.
Plus, because of Sen. Grothman’s election to Congress, there will
probably be a special election early in 2015 to fill the vacancy in
the 20th Senate District. The newly elected state senators are:
Dist.
Rep.
Party/Home
9 Devin LeMahieuR-Oostburg
11 Steve Nass
R-Whitewater
15 Janis Ringhand
D-Evansville
17 Howard Marklein R-Spring Green
19 Roger Roth
R-Appleton
21 Van Wanggaard
R-Racine
25 Janet Bewley
D-Ashland
County/Area
Manitowoc/
Sheboygan area
Walworth County
South Central Wisc.
Southwestern Wisc.
Fox River Valley area
Racine/Kenosha area
Northern Wisc.
DECEMBER 2014 5
WE’VE DEDICATED
$150 MILLION
TO WORKER TRAINING.
IN WISCONSIN® OUR WORKFORCE IS READY
TO WORK AS HARD AS YOU DO.
We’re doing more than training our workforce, we’re preparing highly technical workers to be experts in
their fields. That way, you can be the best in yours. With $150 million invested in workforce training, we’re
making sure our next generation of workers is qualified and ready to jump in where you need them. Because
a state invested in its workforce is a state invested in its businesses and their growth. To learn more
about customized training programs and statewide workforce development, call 855-INWIBIZ (toll free)
or visit Skilled.InWisconsin.com.
SK
IL L E D
®
In Wisconsin® is a registered trademark of Wisconsin Economic Development Corporation.
6
DECEMBER 2014
DECEMBER 2014 7
Legislative Update
(continued from p. 4)
assume a bigger role in his
Administration going forward?
Also, usually right after an
election a game of musical
chairs happens in the Governor’s
cabinet, so we will be closely
monitoring any changes in
state agency leadership.
On the federal level, the
likelihood banks will see some
modest reform to Dodd-Frank
in the next two years has
increased. Over the past four
years, the House has passed
several bipartisan proposals
only to watch them die in the
Senate Banking Committee.
Don’t expect major changes,
which would need to be signed
by Pres. Barack Obama,
but some reforms around the
margins to Dodd-Frank are
now possible.
WBA will continue to work
with the next Congress on
priority items including: CFPB,
GSE and tax reform; Credit
Unions and Farm Credit; the
regulatory burden in general;
and data breaches.
Don’t expect much action
in a lame duck session of
Congress. House Republicans
will likely want to wait until
their Republican counterparts
officially take over in the
Senate before they try to strike
any deals on outstanding
issues. However, hopefully
some of the aforementioned,
noncontroversial regulatory
reform bills bottled up in the
Senate will get through.
Bankers’ Bucks Made
an Impact
In 2014, WBA bankers
contributed generously to
the industry’s political action
funds - the Alliance of Bankers
conduit and Wisbankpac.
Thank you to all of you who
helped get so many probanking officials into office!
Semmann is WBA senior vice
president and chief operations
officer. Risch is WBA director –
government relations.
Scholarships Available for Wisconsin Bankers
Educating Professionals, Creating Leaders
The Wisconsin Bankers Association is pleased to offer scholarship opportunities to its member
bankers through the Herbert V. Prochnow Educational Foundation, a supporting organization to
the Graduate School of Banking at the University of Wisconsin – Madison. The GSB Prochnow
Foundation offers nearly one quarter million dollars in scholarships every year to bankers
who want to improve their careers and organizations through education. Scholarships are
distributed through the WBA for the Graduate School of Banking and the GSB Human Resource
Management School. Apply today for a scholarship to attend a program at the nation’s leading
and most progressive banking school.
For details, contact WBA’s Nick Loppnow at 608/441-1208 or [email protected].
8
DECEMBER 2014
Reg P Annual Privacy Notice Changes
Have there been changes
to the annual privacy
notice requirement under
Regulation P?
Q
A
Answer: Yes. The Consumer
Financial Protection Bureau
(CFPB) has issued a final rule
to amend the requirement to
provide an annual privacy
notice under Regulation P,
which implements the privacy
provisions of the GrammLeach-Bliley Act (GLBA).
In addition to providing
a customer with a notice
describing the institution’s
privacy practices when a
customer relationship is
established, Regulation P
also previously required that
financial institutions send
annual privacy notices to
customers. The notices must
describe whether and how the
financial institution shares
consumers’ nonpublic personal
information. If the institution
shares information with an
unaffiliated third party, the
notices must also inform consumers of their right to opt out
of sharing and how to opt out.
Compliance
Q&A
Jennifer Torbeck
Final Rule:
• www.gpo.gov/fdsys/pkg/
FR-2014-10-28/pdf/201425299.pdf
Under the final rule,
the initial privacy notice
requirement remains
unchanged, but institutions
may post their privacy notices
online in lieu of mailing a
paper notice annually, if certain
conditions are met: (1) there
must not have been changes to
the institution’s privacy policy
since the last notice was sent;
(2) the institution must not
share information in a way that
triggers consumers’ opt out
rights; (3) the institution must
notify consumers annually
about the availability of the
notice online; and (4) the
WBA Opposes FinCEN
Customer Due Diligence Proposal
Summary of recent
comment letter below
In a comment letter submitted
last week to FinCEN, WBA
expressed its strong opposition
to the proposal to require
financial institutions to collect
information on the beneficial
ownership of legal entity
customers when an account
is opened. WBA commented
that a state agency or the IRS
would be a more appropriate
organization to collect the
information, either when an
entity is created or within an
application for an Employer
Identification Number. The
purported benefits of the
proposed rule would be greatly
The WBA Legal Department
advocates for the industry by
writing comment letters to
federal and state regulators
on proposals affecting the
industry and by filing friendof-the-court briefs at the
request of WBA members
and per approval by the WBA
Board of Directors.
outweighed by the cost the
requirement would impose on
financial institutions.
For copies of this or other
WBA comment letters, please
contact the WBA Legal
Department at 608/441-1200
or visit www.wisbank.com/
CommentLetters.
To learn more about Reg P
and other compliance issues,
visit www.wisbank.com/
ComplianceJournal.
institution must use the model
disclosure form for the notice
provided in Regulation P.
The annual notice
informing customers that
the privacy notice is posted
online may be included on
another regular customer
communication, such as a
monthly billing statement for
a credit card. The notice must
state that the annual privacy
notice is available online
and that a paper copy will be
provided upon request.
Institutions may choose
not to use the new disclosure
method allowed by the final
rule, and may continue to send
the annual privacy notice to
customers by mail.
The final rule became
effective upon its publication
in the Federal Register on Oct.
28, 2014. The final rule may
be found here: www.gpo.gov/
fdsys/pkg/FR-2014-10-28/
pdf/2014-25299.pdf.
Torbeck is WBA assistant director
– legal. For legal questions, please
email [email protected].
Note: The above information is not
intended to provide legal advice;
rather, it is intended to provide
general information about banking
issues. Consult your institution’s
attorney for specific legal advice
or assistance.
WBA Submits Amicus Brief
in D&O Liability Case
One way the WBA Legal
Department represents the
industry is by acting as
amicus curiae for select legal
issues being litigated at an
appellate level. Amicus briefs
offer information to assist
a court in deciding a matter
before it. WBA becomes
involved in such legal issues
at the direction of the Board
of Directors.
When WBA’s Board
approves an amicus request,
the legal department
coordinates with its outside
counsel, who prepares the
briefs and, in some instances,
presents oral argument
when permitted by the court.
Over the years, WBA has
appeared as an amicus
in many cases, several of
which have been influential
in court decisions impacting
the industry, such as drag net
clauses in loan documents
and various guaranty issues
just to name a few.
In late October, WBA
submitted an amicus brief in
a case that has the potential
to impact certain types of
Directors and Officers liability.
Oral arguments occured in
October, but a decision from
the court is not expected until
next year. Watch for more
information in future editions
of Wisconsin Banker.
Staff Change? Address Change? Let WBA Know
Getting information to the right person quickly is critical in
these challenging times. Has there been a personnel change at
your bank, or are WBA’s mailings targeted to the wrong staff?
Send your address corrections and/or additions to our
database administrator, WBA’s Assistant Director – IT Randy
Molepske, at 608/441-1212 or [email protected].
DECEMBER 2014 9
Will Your Bank Be A Top
Performing Bank In 2015?
More top performing banks improve their efficiency ratio by using cloud computing
than ever before.
BankOnIT’s Bankers Private Cloud eliminates the need to buy servers and hire technical
staff, helping bankers get the most return possible out of every technology dollar spent.
Ask us about our clients that are among the nation’s top performing banks.
Discover extraordinary results for yourself at www.bankonitusa.com.
(800) 498-8877
BankOnITUSA®
Entirely supported and hosted in the USA.
bankonitusa.com
10 DECEMBER 2014
Being visionary starts by seeing
what’s right in front of you.
The biggest
opportunities are
sometimes the hardest to see.
Baker Tilly’s industry specialists have
the experience to help you leverage resources
and maximize opportunities. And we won’t just tell
you what you want to hear, but exactly what’s needed.
Want a more visionary advisor?
The choice is right in front of you.
bakertilly.com l 800 362 7301
Christine Fenske x5415
Mary Clare Miske x5320
Kevin Schalk x5428
Baker Tilly refers to Baker Tilly Virchow Krause, LLP, an independently owned and managed member of Baker Tilly International. © 2014 Baker Tilly Virchow Krause, LLP
DECEMBER 2014 11
Awareness, Humility and Action: The Big AHA!
2015 WBA Bank
Executives Conference
session preview
There’s no denying that the
world of science and technology is changing at a drastic pace.
Exponential growth may be a
very good thing for retirement
accounts, but its implications
for the way consumers live
and behave are both thrilling
and daunting.
Futurist Jack
Uldrich, one
of the expert
speakers to be
Uldrich
featured at the
2015 WBA Bank Executives
Conference in February, points
out in his presentations that
science and technology are
doubling in capacity every five
years. What does that mean?
The developed world will see
more change in the next 20
years than during the past 100.
Think about what consumer
life (and banking) was like in
1915. There were fewer than
20,000 cars in the world. Life
expectancy averaged around
47 years. Half the population
of the United States lived and
worked on farms. The Federal
Reserve was brand-new, and
the Federal Deposit Insurance
Corporation wouldn’t exist
for another 18 years.
The only way to
deposit, withdraw or
transfer funds through a
bank was to physically
go to the bank and
speak with a banker.
In his presentation, “Foresight 20/20:
Ten Trends Transforming Tomorrow,” Uldrich
Register at www.wisbank.com/BEC
will expose attendees
by Dec. 15 and save $20!
to new ways of thinking
about the near future and
what they should be doing to
leaders, need to take the time
set their bank up for success.
to focus on tomorrow. “One of
One example he gives of how
the big problems with business
the industry has already been
leaders, even at successful
impacted by rapid changes
companies, is that they’re so
in technology is the story
focused on today that they don’t
of a small startup done by
do a good enough job to step
teenagers. Two years ago,
away from the daily grind,” he
they raised $1 million on
said. “Step away from the dayKickstarter to develop a
to-day and reflect on how the
prototype of wearable virtual
world is changing and where
reality goggles. Venture
your industry is going.” Attending
capitalists then invested a
conferences like Bank Execs is
further $25 million to advance
one of many ways to do that.
the product. Facebook
Another reflection strategy
purchased the company for
Uldrich recommends is for
$2 billion this past summer.
bank management to conduct
“All of that was done outside
a “pre-mortem” for their bank.
of the banking industry and in
At the conference he will
18 months,” Uldrich said. “The explain more, but generally a
world is changing very quickly pre-mortem is what it sounds
and bankers need to be aware
like: the opposite of a postof these trends. How will you
mortem. A post-mortem is the
adapt to prosper in the future?” study of what went wrong after
Uldrich proposes that bank
a company goes bankrupt, so a
leaders, like any other business pre-mortem projects five years
into the future and posits that
the company has gone out of
business. Management then
asks what went wrong. What
did they not see coming? What
were they unprepared for? In
five years, if your bank is not
around anymore, why will that
have happened, and what can
you do to avoid that scenario?
It’s a tough conversation,
according to Uldrich, but it can
help management determine
how to mitigate potential
threats and think differently
about emerging opportunities.
“Be prepared to think
differently and perhaps act
unconventionally,” he said.
Join Uldrich and many other
expert speakers in Milwaukee
for the WBA Bank Executives
Conference and get a glimpse
of the technology and consumer
trends that will impact your
bank in the near future. “The
world is changing fast,” Uldrich
said. “What served us well
yesterday may not be sufficient
moving forward.” No matter
what the details of 2020 end
up being, success will depend
on bank executives’ awareness
of trends, humility to accept
different ways of doing things,
and ability to act on those ideas.
To find out more or to
register online, please visit
www.wisbank.com/BEC.
Congratulations, WBA Bank Operations School Graduates!
Bank employees involved with
operations, sales, lending, customer service and data processing
gathered in Wisconsin Dells,
Sept. 29 – Oct. 1, to expand
their skills at the WBA Bank
Operations School. The school’s
curriculum provided attendees
with an understanding of key
operational principles and bank
profitability. Topics covered
included: compliance, negotiable
instruments, supervisory skills,
fraud protection, risk management, and bank profitability,
management and measurement.
Congratulations to all
WBA Bank Operations School graduates gather for a photo.
these graduates: Rosemarie
Baumann, Grand Marsh State
Bank; Jeremy Carlsrud, The
First Bank of Baldwin; Fred
Caya Park Bank, Holmen;
Sherry Gallaghar, Waldo State
Bank; Megan Genteman,
Forward Financial Bank, Marshfield; Leanne Hemmer, Waukesha State Bank; Deanna Krultz,
Heritage Bank, Spencer; Val
Kusse, Capitol Bank, Madison;
Larry Lukasavage, Johnson
Bank, Racine; Amber Manke,
Coulee Bank, La Crosse; Linda
Okonek, Shell Lake State Bank;
Ayla Schaefer, Citizens Community Federal, Altoona; Lori
Schutz, Forward Financial
Bank, Marshfield; and Thomas
Vos, Johnson Bank, Racine.
12 DECEMBER 2014
Economic Sneak Peek: Outlook From Industry Experts
Bankers, businesspersons, community leaders look forward at forecast luncheon
Mark your calendars! The 2015
Wisconsin Economic Forecast
Luncheon, presented by the
in conjunction with the
Wisconsin Realtors Association,
will be held on Jan. 8, 2015 at
the Alliant Energy Center in
Madison. Bankers are encouraged to bring their business
clients to this event, where
expert speakers will provide
insight into what 2015 holds
for Wisconsin’s economy. The
event will begin at 12:15 p.m.
with introductory remarks from
January 8, 2015
Noon to 2 p.m.
Keynote Speaker:
Eric S. Rosengren
Federal Reserve Bank
of Boston
Alliant Energy Center  1919 Alliant Energy Center Way  Madison
Ignite your career
Budget Now for GSB
Education
Sparks
Advancement
Budget Now!
When you make a 2015 program from
the Graduate School of Banking at the
University of Wisconsin part of your
Upcoming Classes
Graduate School of Banking - August 2-14, 2015
Bank Technology Management School - April 12-17, 2015
Bank Technology Security School - October 11-16, 2015
Human Resource Management School - April 19-24, 2015
Financial Managers School - September 13-18, 2015
Bank Management Forums - Ongoing Throughout the Year
Online Seminar Series - Ongoing Throughout the Year
professional development, you’ll fire
up your career with industry-leading
knowledge from outstanding faculty
and exceptional networking with your
peers—and, you’ll join a bright group
of in-the-know alumni who are the
hottest performers in our industry.
Take advantage of GSB’s exceptional
residential and online educational
offerings to master the essential
elements of bank profitability and
hone your skills in the real world.
“Simply put, GSB-Madison offers the finest
bank management education anywhere.
From its highly-respected Graduate School
of Banking to regional topic-specific
leadership development workshops, senior
management forums and online seminars
to in-bank training resources and leadingedge industry research, I consistently look to GSB to provide
the quality, relevant information necessary for today’s most
proactive banking leaders.”
- Donna Hoppenjan
President and CEO, Mound City Bank, Platteville, Wis.
GSB Class of 1998, Senior Management Seminar 2006,
Financial Managers School 2007
Visit gsb.org to request a catalog or
for information on curriculum, student
profiles, scholarships and more. Ignite
your career … budget now for GSB!
Educating Professionals, Creating Leaders
GSB_FallAd_WiscBA_6x7.5_1014.indd 1
GSB.org
10/12/14 9:16 PM
Jeff Mayers, WisPolitics.com
and WisBusiness.com.
Attendees will hear from
Eric S. Rosengren, president
and CEO of the Federal Reserve
Bank of Boston. Rosengren has
been in this position since July
2007. Previously he headed the
Bank’s supervision, regulation,
and credit group, and was active
in domestic and international
regulatory policy. Rosengren
joined the Bank in 1985 as
an economist in the research
department, with a B.A. from
Colby College and an M.S.
and Ph.D. from the University
of Wisconsin – Madison. He
has written extensively on
macroeconomics, international
banking, bank supervision and
risk management, including
articles in leading economics
and finance journals. Much
of his recent research has
focused on how problems in the
financial sector impact the real
economy. Rosengren is also a
member of advisory boards at
Colby College and the University
of Wisconsin.
An invitation to speak
at the luncheon has also
been extended to Governor
Scott Walker.
For more information or
to register for the Luncheon,
please visit www.wisbank.com/
EconomicForecast. If you have
any questions about the event,
please contact WBA’s Patty
Rogers at 608/441-1209 or
[email protected].
WBA would also like to thank
the event sponsors:
• Associated Bank
• Bankers’ Bank
• Boardman & Clark LLP
• Lins Business
Consulting, LLC
• Madison Gas
and Electric
• McGladrey
• WIBA 1310 AM
• WisBusiness.com
• Wisconsin Business
Development
• Wisconsin State Journal
DECEMBER 2014 13
Calendar of Events
Visit www.wisbank.com/education to find out more about these
programs, register or browse a full list of WBA Education events.
Please direct questions to WBA’s Nick Loppnow
at 608/441-1208 or [email protected].
December 2014 – March 2015
Conference
WBA Bank Executives
Conference
Feb. 2-4 | Milwaukee
(See article on p. 11.)
xecutive Briefing
WBA Executive Briefing
Topic: Crowdfunding
Webinar | Dec. 2
FI PCO Events
Compliance Forum
WBA Compliance Forums
Forum Three:
Feb. 24 | Stevens Point
Feb. 25 | Wisconsin Dells
Feb. 26 | Pewaukee
Luncheon
FIPCO IT Round Table
Dec. 11 | Madison
(Visit www.fipco.com/events.)
Seminar
WBA Internal Audit Seminar
Dec. 2 | Wisconsin Dells
Webinars (online training)
Wisconsin Economic Forecast
Luncheon
Jan. 8 | Madison
(See article on p. 12.)
WBA Managing Levies,
Garnishments and Other Legal
Process in Wisconsin
Webinar | Dec. 4
WBA Home Ownership and
Equity Protection Act (HOEPA)
Webinar | Jan. 14
Schools
WBA Commercial Lending School
Feb. 15-20 | Wisconsin Dells
(See WBA Featured Events,
top right.)
WBA Advertising Law Series:
Deposit Product Advertising
(Session One)
Webinar | Jan. 22
WBA Residential Mortgage
Lending School
March 2-6 | Wisconsin Dells
at right.)
WBA Advertising Law Series:
Loan Product Advertising
(Session Two)
Webinar | Feb. 12
WBA Real Estate
Compliance School
March 23-27 | Wisconsin Dells
bottom right.)
WBA Advanced IRA Workshop
March 18 | Wausau
March 19 | Madison
WBA’s social media efforts focus on communication, advocacy:
Wisconsin Bankers
Association –
www.facebook.
com/wisbank
> Follow Us
@wisbank –
www.twitter.
com/wisbank
> Join Us
Wisconsin Bankers
www.linkedin.com/
company/wisconsinbankers-association
Upcoming Lending, Compliance Schools
WBA Commercial Lending School
Feb. 15-20 | Wintergreen Resort and
Conference Center, Wisconsin Dells
Financial institution employees who want to improve their existing
understanding of credit and financial analysis and commercial
lenders who desire to expand and refine their commercial
lending skills and learn how to apply this knowledge in profitable
commercial lending situations will both benefit from attending
the WBA Commercial Lending School. The curriculum includes
in-depth, hands-on training in all facets of commercial lending
with an emphasis on cash flow, financial analysis and structure.
Topics include loan structure, establishing credit discipline,
effective relationship management and identifying and managing problem loans. This is not an introductory course.
WBA Residential Mortgage Lending School
March 2-6 | Wintergreen Resort and
Are you new to mortgage lending or considering a move to
become a mortgage lender? This is the school for you! Students
will gain the knowledge and tools needed to be successful in
this complex and highly competitive field. School attendees
will learn from seasoned professionals the concepts needed to
reach that success and also learn from fellow students through
case study work as bankers and their team members collaborate
on assignments. The school curriculum covers essential topics
such as finance basics, compliance for residential mortgage
lenders, product knowledge, underwriting, title insurance, closing
documentation and pricing considerations. It is recommended
that potential students have less than two years of experience
in the residential mortgage lending area of the bank.
WBA Real Estate Compliance School
Workshop
> Register online for WBA events at www.wisbank.com/education.
> Register online for FIPCO events at www.fipco.com/events.
> Like Us
WBA Featured Events
> Watch Us
Wisconsin Bankers
www.youtube.
com/Wisconsin
Bankers
March 23-27 | Wintergreen Resort and
This school was designed to provide attendees with a strong
foundation on federal and state real estate lending laws. It will
also address many regulations, including the CFPB rules to
implement the new integrated disclosures that are effective
Aug. 1, 2015. Attendees will cover topics including Truth in
Lending (Reg Z), advertising rules for real estate secured
loans, Real Estate Settlement Procedures Act (RESPA, Reg X),
Fair Housing Act, HMDA (Reg C), real estate appraisal rules
and variable rate real estate lending. Compliance officers, loan
officers, loan operations staff and audit personnel at the bank
will all benefit from this course.
Please direct any questions about upcoming WBA
education programs to WBA’s Nick Loppnow at
608/441-1208 or [email protected].
14 DECEMBER 2014
Bulletin Board
News about people working in Wisconsin’s financial institutions
Promotions and New Hires
Elroy
Jeff Gruetzmacher (pictured)
has been hired as vice
president at Royal Bank’s
Cassville location.
Madison
First Business Financial
Services, Inc. has promoted
Joni Ciula (pictured) to
treasury manager, Melissa
Colby (pictured) to senior
financial accountant, and
Brian Spielmann (pictured)
to financial reporting
manager. The bank has hired
Paul Farrelly (pictured) as
hired Eric C. Muggenburg
(pictured) as a commercial/
residential lender at the
Belleville location.
Gruetzmacher
Ciula
Colby
Spielmann
Farrelly
Janssen
Van Handel
Weekley
Muggenburg
Brogan
vice president – business
development, Jerimiah
Janssen (pictured) as assistant
vice president – business
development, and
Have good news? To submit a notice, please email
[email protected]. Or mail entries to WBA Bulletin
Board, 4721 South Biltmore Lane, Madison, WI 53718. Send
photos as JPEG files. Questions? Contact WBA’s Amber Seitz
at 608/441-1237 or [email protected].
Chad Van Handel (pictured)
as vice president – business
development.
Milwaukee
Bank Mutual has hired
Kimberlie Weekley (pictured)
as senior vice president/
director of retail banking
and sales.
New Glarus
The Bank of New Glarus
and Sugar River Bank has
Oconomowoc
First Bank Financial Centre
has hired Dave Brogan
(pictured) and Karen O’Brien
(pictured) as mortgage
lenders, and Tyson Goecks
(pictured) as SBA specialist.
The bank also promoted
Aaron Pearson (pictured)
to the role of commercial
loan specialist.
Pewaukee
Foundations Bank recently
promoted Berenice Bruwer
(pictured) to assistant vice
president, human resources
manager and Catherine
Kolton (pictured) to vice
president, retail banking.
Community State Bank Encourages
Creativity in the Local Community
Art students from Union Grove High School recently painted a very
creative fall mural at Community State Bank’s Motorbank facility
in Union Grove. Pictured (left to right): U.G.H.S. Students Sydney
Rasmussen, Jessica Anderson and Anna Peterson proudly display their
festive fall mural.
"I view each of my
client's needs as
unique. There is
no cookie cutter
solution. Each
engagement is
tailored to your
financial institution's
objectives."
Debra R. Lins, MBA
E11575 County Road Z
Prairie du Sac, WI 53578
608.963.2673
www.linsbusinessconsulting.com
DECEMBER 2014 15
Bulletin Board
News about people working in Wisconsin’s financial institutions
Promotions and New Hires
Sun Prairie
The Bank of Sun Prairie
has announced that Jimmy
Kauffman will serve as the
new Bank President and CEO
following the retirement of
Alice Hensen, who has held
that role for the past eight of
her 48 years at the bank.
Sturgeon Bay
Baylake Investment Services,
located at Baylake
Bank, has hired
Walker
Alison Walker
(pictured) as a financial advisor.
O’Brien
Goecks
Pearson
Kolton
signed a letter of intent to
Wautoma
acquire Allied Data Solutions,
Jody Jansen
a company specializing in
(pictured) has
joined Hometown Bank as
Jansen
senior vice
president – commercial lending.
Forward Financial Supports Athletes
Associate Member News
Wausau
RMM Solutions, a leader in
technology solutions, has
Peoples State Bank Marks 100 Years
Congratulations to
Peoples State Bank,
Prairie du Chien,
for reaching their
100th year serving
their Wisconsin
customers. The
bank hosted
an open house
in October to
celebrate the
milestone. WBA’s
Rose Oswald Poels
(right) presented
a commemorative plaque to Peoples State Bank’s Tom Farrell
(middle, left), chairman of the board, and Mark Forsythe (middle,
right), president. Also pictured, Daryll Lund (left) representing the
Community Bankers of Wisconsin.
www.
bsrecruiters.com
Bruwer
design and installation of low
voltage cabling solutions,
physical security and access
controls. The acquisition will
bring employee expertise and
key services to further expand
RMM Solutions current
Wausau, Eau Claire and
Rhinelander offices.
B$ Recruiters is an
executive search firm
providing staffing services
to banks in the Wisconsin
marketplace seeking
top-caliber talent.
Erick Gorecki
Del Garcia
We have successfully fulfilled assignments for our clients since our
beginning in 1993. The keys to our long success is our industry experience,
personal commitment, and the professionalism of our recruiters. We enjoy
long-term relationships with the great majority of our clients because of
our personal commitment to provide them with the highest level of service.
B$ Recruiters is independently owned executive search and recruitment
firm. We offer commitment and dedication to our searches.
B$ Recruiters | 155 East Capitol Drive, Suite #5, Hartland, Wisconsin 53029
Office: (262) 369-8109 | Cell: (414) 491-3157 | www.bsrecruiters.com
Forward Financial
Bank has spent
the 2014 high
school football
season at their local
community games
promoting a $10,000
field goal kick
challenge at each
game. The goal was
to encourage more
fans in the stands to
support area student
athletes. Pictured (above): A fan attempts the 45-yard field goal to win
$2,500 for the school and $7,500 for himself at a game in Medford.
PROTECTING
Your Most Important Assets
Let EBC show
you how:
608.441.1200
www.wisbankins.com
• Group Health
• Group Life Insurance
• Group Disability
• Dental
• Vision
• And Much More!
16 DECEMBER 2014
Your Customers Have Something to Say, Are You Listening?
By Ellen Rock-Reineck
Marketing agencies have been
selling the importance of focus
group research for years. They
may call it something different
now like a “voice of the customer” study and require dozens
of people to be a part of it so
results are solid. They also will
conduct the focus groups for you.
Invite the customers to participate, interview them with
industry specific questions to
see if there are any trends or
opportunities that will benefit
your future marketing plans.
These types of studies are great
for data gathering and many
times will give you more than
you could ever use. But where
are you in the conversation?
Community banking is all
about relationship building,
and I’m a firm believer that
customer feedback should be
gathered in a way that helps
develop that relationship.
For the past three years,
I have conducted Business
Strategic
Connections
Ellen
Rock-Reineck
Business Advisory
Council Toolkit:
» 10-15 members
» 2 markets
» 1 note taker (consultant)
» 1 moderator (marketing director)
» 11/2 hour quarterly breakfast
meetings
» Agenda/invite emailed two
weeks before each meeting
Advisory Council (BAC)
boards with some of our small
business customers. These
groups are about 10-15 people
in size and meet once a quarter
for breakfast. During these
meetings I have specific things
I want to learn from them
about how the bank is doing
in regard to fulfilling their
customer service expectations.
I also ask them their opinion
on bank services and initiatives
before we roll them out to the
entire company. Each year I
have held these meetings in
two different markets in order
to gauge trends.
The meetings are transcribed
by a third party, allowing me
to be fully engaged in the
conversation with our customers.
The transcriptions are then
shared with our entire company
as a transparent way to share
customer feedback. I also make
sure to circle back with the
BAC members each meeting to
let them know how their
feedback has affected decisions
we have made for the betterment
of the company. Without
question, these conversations
have been the most fulfilling
thing I have done for myself
and the organization.
Conducting BACs also is
a great public relations strategy.
The members become ambass-
adors for your brand. They feel
intimately involved in the growth
of the company because they
have been a part of behind-thescenes decision making.
Finally, these discussions
have also helped to grow
the number of accounts and
services the BAC members
themselves have with the bank.
Many times the customers are
actually selling the products to
each other, which is really fun
to watch!
In conclusion, do not
be afraid to get into the
conversation with your
customers. They love to give
their opinion and enjoy it even
more when you take their
advice. Start small, keep it
simple and you too will see
how rewarding this relationship
building research can become!
Rock-Reineck is marketing and
public relations director at
River Valley Bank, Wausau, and
a member of the 2014-2015 WBA
Marketing Committee.
Bankers Get a Handle on Commercial Lending
WBA school provides introduction to key concepts, principles
From Sept. 15-17 at St. Norbert
College in De Pere, 29 bankers
worked to enhance their understanding of commercial lending.
These bankers attending
the WBA Introduction to
Commercial Lending School
studied curriculum designed to
provide a basic understanding
of the principles and concepts
of commercial lending. They
covered topics including
the structure of the typical
business, cash flow, loan
structuring and investigation,
lending decisions, and
commercial lending laws, to
name a few. Congratulations to
all the school graduates!
Addison Altmann, West
Pointe Bank, Oshkosh; Brian
Anderson, BMO Harris Bank,
N.A., Janesville; Tyler
Anderson, Farmers &
WBA Introduction to
Commercial Lending
School graduates pose
for a photo.
Merchants Bank, Tomah;
James Bastien, The
Stephenson National Bank
and Trust, Marinette; George
Brewe, Security Financial
Bank, Bloomer; Brian
Donnelly, River Valley Bank,
Houghton, Mich.; Aaron
Ewing, Community First Bank,
Richland Center; Chad Haried,
McFarland State Bank; Justine
Hellenbrand, Farmers &
Merchants State Bank, Waterloo;
John Kaprelian, Forward
Financial Bank, Marshfield;
Marcia Krieser, Mayville
Savings Bank; Curry Kuehl,
Bank First National, Oshkosh;
Mai Lao, Community
Bank & Trust, Sheboygan;
Andrew Lombard, Settlers
Bank, Windsor; Matthew
Muzynoski, River Valley
Bank, Wausau; Miranda
O’Connell, Waukesha State
Bank; Paul Picucci, River
Valley Bank, Wausau; Rob
Posteluk, Pioneer Bank,
Auburndale; Steve Printz,
United Bank, Osseo; Bill
Rehn, Bank First National,
Green Bay; Danice Rietbruck,
Community Bank & Trust,
Sheboygan; Eric Rogness,
United Bank, Osseo; Steve
Schahczenski, Nicolet National
Bank, Marinette; Carl Scheunemann, Tri City National Bank,
Oak Creek; Katelyn Secora,
The Business Bank, Appleton;
Ben Swanson, State Bank of
Cross Plains; Kevin Volker,
Bankers’ Bank, Madison; Eric
Waite, Johnson Bank, Madison;
and Mark Woodward, The
Bank of Brodhead.
DECEMBER 2014 17
Power comes from being understood.SM
The banking landscape is continually changing; we identify how these changes affect
your institution and suggest the most efficient and effective plan of action based on our
knowledge of your institution and the banking industry. We serve thousands of financial
institutions nationwide and understand the challenges and complexities of banking.
That’s what you can expect from McGladrey. That’s the power of being understood.
Experience the power.
Go to www.mcgladrey.com or call 800.274.3978
McGladrey LLP is the U.S. member firm of RSM International, a global network of independent accounting, tax and consulting firms.
MCG-1213TB
18 DECEMBER 2014
Asset/Liability Management and Balance Sheet Dynamics
By Jeffrey F. Caughron
The Banking Environment
It is no surprise that
community banks have seen
their net interest margin fall
in recent years. We know
that funding costs hit bottom
some time ago, while yields
on earning assets continued to
whittle lower. Older loans and
bonds paid off or matured and
were replaced by newer and
much lower yielding assets.
As noted by the FDIC, margin
compression is especially
problematic for smaller
institutions since three-quarters
of their net operating revenue
comes from net interest
income. Clearly, community
banks have a great incentive
to focus on their asset/liability
management processes.
Dynamic Analysis
Bank financial performance
is the result of dynamic
processes. Balance sheets
are constantly changing as
the volumes of different
assets and liabilities, the rates
paid (or earned) on those
balances, and the cash flows
moving into and out of those
accounts are fluctuating and
unpredictable. What we need
to know is, given the mix of
assets and liabilities and the
rates associated with them,
how can we expect margins
and earnings to perform under
different rate environments
as the re-pricing assets and
liabilities filter through the
balance sheet over time?
In order to do this analysis,
we must have tools that allow
WHAT is our
WHEDA
ADvAnTAgE®?
The WHEDA
Tax Advantage.
The WHEDA Tax Advantage is an exclusive
program that provides a special tax credit
to qualified home buyers that saves money
and makes home ownership more
affordable. This special tax credit reduces a
first-time home buyer’s federal income tax
liability over the life of the mortgage. To
learn about the WHEDA Tax Advantage and
all the advantages WHEDA has to offer, visit
www.wheda.com/TheChallenge.
Income and purchase price limits apply and
home buyer education is required.
800.334.6873
n
www.wheda.com
us to make assumptions about
rate changes, options risk,
curve shifts, prepayments,
and sensitivities or betas. The
ultimate point of the exercise
is to determine how the bank is
positioned, and what changes,
if any, the bank may wish
to make in order to shore up
exposures to interest rate risk.
Every Balance Sheet
is Different
Each community bank
has unique characteristics and
ways of doing business that
reflect the economic landscape
of the market that they serve.
The one thing they all have in
common is the fact that they
operate in the same interest
rate environment at any given
point in time. Every bank must
assess its exposure to interest
rate risk and the interplay of
three subcategories of risk: repricing risk, yield curve risk
and options risk.
Re-pricing Risk: Re-pricing
risk results from differences
in the timing of rate changes
and the timing of cash flows
that are built into the pricing
and maturity structure of a
bank’s balance sheet. For most
banks, re-pricing risk is the
most visible source of interest
rate risk, and is measured by
comparing the volume of a
bank’s assets that mature or
re-price within a given time
period with the volume of
liabilities that do so. Rate
differentials are then applied to
the re-pricing balances so that
income and expense changes
can be projected.
Yield Curve Risk: The
nature of banking is such that
banks borrow short and lend
(or invest) long. The shape of
the yield curve is dictated by
the relationship between shortterm rates and long-term rates.
From the bank’s perspective,
it’s the difference between
funding cost and earning asset
yield. Relative rate changes
cause the yield curve to flatten,
DECEMBER 2014 19
Midwest Bankers Insurance Services (MBIS)
25 Basic Questions Bankers Should be Asking Their D&O Liability Carrier
By Jeff Otteson
Financial institutions and
their directors and officers are
targets for claims brought forth
by customers, employees and
third parties. Having a properly structured Director’s and
Officer’s Liability policy has
never been more important
as regulators and examiners
are paying special attention to
these policies.
Keep in mind that each
insurance carrier’s policy is
negotiable, so working with
an agency and agent that
understands these lines is
crucial when designing and
implementing a properly
structured D&O Liability
policy. Below are 25 basic
questions that should be asked
when negotiating a D&O
Liability policy.
1) What defines a claim?
2) Are the limits and
retentions in place above, below
or at peer group based on assets
and risk tolerance?
3) What is the annual
aggregate limit of the policy?
4) What endorsements
to the D&O policy cover the
directors and officers and what
endorsements cover the entity?
5) Does the policy provide
coverage for prior acts with no
retro dates?
6) What is the Insured and
Employee definition and how
long is coverage extended after
the individual leaves the Board
or Bank?
7) What are the notice
requirements when an insured
becomes aware of a fact,
circumstance or event that could
give rise to a claim?
8) Based on which
individual’s knowledge of such a
fact, circumstance or event does
the requirement to report a claim
begin (Chairman, CEO, General
Counsel, HR, etc.)?
9) Who controls defense in
claim matters, insurer or insured?
coverage for defense, settlements
or judgments for claims brought
forth by regulators or examiners
against a director, officer or entity?
Insurance
Insights
Jeff Otteson
MBIS
Sales Director
11) Will the policy defend
a Civil Money Penalty against a
director, officer or entity?
12) If two endorsements of
the policy are triggered by one
claim how are limits allocated?
13) Does the policy contain
a consent to settle provision
(hammer clause)? If so, how
does this provision apply if the
insured decides not to settle
a claim after the insurer has
offered settlement?
14) Will a paid claim against
an entity erode the limit for
potential future claims against
the directors and officers?
15) What are the Insured
versus Insured (IVI) carve
backs? Make sure the policy
contains an IVI carve back for
receiver in post failure matters,
per FDIC.
16) Is the policy or at least
“Side A” rescindable for any
reasons except for nonpayment?
If so what are the reasons?
17) Is there a separate “Side
A” limit or is the “Side A” limit
combined with the “Side B”
limit?
18) When a multiyear
policy is offered that contains
a multiyear rider, under what
circumstances can the insurer
change the terms, conditions or
pricing?
19) What are the extended
reporting options and under
what circumstances can it be
triggered?
20) What professional
services are included or
excluded from the Bankers
Professional Liability and
Company Professional Liability
endorsements?
21) What exclusions could
prevent a claim from being paid?
22) A loss is the amount
that an insured person or entity
is legally obligated to pay. What
does a loss not include?
coverage for the directors,
officers and entities for claims
brought forth by shareholders?
24) If during the policy
period the insured acquires
another organization, assumes
assets or liabilities of an
organization or creates a
subsidiary, what asset increase
percentage will trigger the
insurer to review policy and
potentially make changes
(limits, retentions, premium,
and policy language)?
25) Are the directors and
officers covered for cyber
liability claims on the D&O
Liability form or the Cyber
Liability form?
It is important that directors
and officers understand the
protections provided to them
under a D&O Liability policy
as their personal assets are
at risk. Make sure the D&O
Liability insurance consultant
meets with the board of
directors (record the review
in the board minutes) every
two to four years. This review
should include all the above
questions along with claim
examples and peer group
surveys showing appropriate
limit structure and retentions.
Education is key; you don’t
want to find out what you
purchased after a claim has
been made.
If you are interested in
finding out more about MBIS
or the products available,
please contact Jeff at 608/2175219 or [email protected].
Otteson is sales director for
Midwest Bankers Insurance
Services LLC (MBIS). MBIS, a
joint venture by the Minnesota
and Wisconsin Bankers Associations, is an insurance agency that
only serves the financial industry
so its products are specifically
tailored to the complex insurance
needs of financial institutions.
20 DECEMBER 2014
Wealth Management
“Being able to deliver
your services in an advisory
capacity is really the value of
the business, beyond the ability
to grow revenue,” said William
Bohn, J.D., executive vice
president – Head of Private
Client & Institutional Services
at Associated Bank, Green
Bay. “It allows banks to build
a business and relationships
with key stakeholders,
especially business owners
and more affluent individuals
in the community,” he
explained. “The big benefit
of incorporating wealth
management into the bank’s
service line is retention of that
client relationship,” Fedenia
agreed. “With the scope of the
financial planning process,
once a client has a good
relationship with a banker,
he or she is not likely to move
to a new banker for a few
extra basis points.”
GEAR UP
Your Bank’s Wealth
Management
Providing
Services
consumers with
wealth management
services is a
working business
model on its own, but it can
be a powerful driver when
integrated into the financial
institution model. “Looking
at it from an enterprise level,
wealth management helps
to grow the business from a
top line perspective,” said
Kristin Reilly, president of
wealth management services
at Prairie Financial Group,
a division of Waukesha State
Bank, and chair of the 20142015 WBA Trust Section
Board. Offering wealth
management and financial
planning services to customers
allows the bank to redefine the
customer relationship,
in addition
to being a
channel of
diversified
revenue.
Reilly went
on to explain that wealth
management “extends
the horizons of bank
relationships,” in part because
it is a long-term customer need.
Starting or Expanding
Wealth Management
However, even
though it offers banks
a way to increase their
noninterest income and
extend or expand client
relationships and retention
rates, launching or growing
wealth management services
is a difficult, expensive
endeavor. “The biggest hurdle
is the intense competition for
relationships,” said Fedenia.
“There’s a lot of competition
out there, which means you
have to have seasoned experts
in a wide variety of areas on
board.” To operate a full-scale
wealth management operation
requires experts in insurance,
investments, tax filing,
accounting, and estate planning
among others. Many of these
areas also require special
licenses. “It can be difficult to
get a qualified staff together
under one roof,” Fedenia said.
Another barrier is the
investment required in the
infrastructure. “It takes a
considerable investment by the
organization in order to start
or grow a wealth management
presence,” said Reilly. “You
need technical experts and
you need investment in the
infrastructure.” Managing the
{Trusted resource.}
Our experienced team can serve your audit,
tax, regulatory compliance, loan review, IT audit,
and security assurance needs, delivering
a higher return on experience.
Brady Nitchman, Chris Ritter, Steve Schick, Kyle Manny, Mike Stearns, Elizabeth Snyder, Joe Oleksak
Call for a complimentary consultation 312.602.3510.
banks.plantemoran.com
DECEMBER 2014 Wealth Management
number of client relationships
needed to have a profitable
operation is labor intensive
even with the right technology.
A formal compliance
process is also essential,
because wealth management
is just as highly regulated as
any other area of banking.
“The rules have changed and
will continue to change,” said
Reilly. “The organization
has to adopt a philosophy
that puts the customer
first.” Bank management
cannot overlook compliance
when investing in wealth
management infrastructure.
“It’s very important to have
the right people and right risk
management and compliance
processes in place,” said Bohn.
“It’s very easy for a misstep
to cause a disproportionate
amount of trouble, so be
careful and be diligent.”
Despite these challenges,
many banks find wealth
management is an excellent
complement to their organization. One way to test the waters
and see if wealth management
is a good fit for your bank is
through referral relationships.
“If the bank isn’t fully committed,
start with a partnership and
see how the bank fares in the
industry,” Reilly suggested.
“Their customers will be better
served by partnering than
by having nothing.” Fedenia
agreed, saying, “You don’t
have to have all the experts
in-house, just have a stable of
experts to recommend.”
The depth and complexity
of those partnerships will vary
from institution to institution.
“Strategic partnerships
can range from creating a
mutual referral relationship
to contractually providing
services on a private label
basis to outright acquisition,”
said Bohn. “It depends on the
scope of what you’re trying to
accomplish.” Bohn also noted
that this type of relationship
becomes less common in the
21
fiduciary services business.
These options also vary in
cost, with mutual referrals
being the least costly for the
bank and acquisition often
being prohibitively expensive.
“In the wealth management
space, acquisition can be a
very expensive growth option,”
Bohn concluded.
The Keys to Success
So, what does a
financial institution
need to have in order to
support a successful wealth
management program?
Similar to many other business
endeavors, the foundation for a
profitable service line includes
a solid value proposition,
staff expertise, a starting
client base and a strategy for
growth. “It sounds a bit cliché,
but it’s really about the value
proposition,” said Fedenia. “In
order to have success you need
to offer clients a valued service
that sets you apart from the
competition.” Bohn echoed that
statement but added the need
to use that value position in
marketing to potential clients.
“You have to start with having
a solid value proposition, one
that you can not only articulate
clearly, but that you can back
up with real results,” he said.
“You want to be very targeted
in your efforts and find clients
that are a good fit for the value
proposition that you deliver,
and be specific about why you
are a good fit.”
When it comes to finding
a client base, banks have the
advantage of drawing on their
current customer base. The
best way to access those clients
is through internal referrals,
which work best when the
entire organization works as a
unit. “Set aside internal silos
in the business,” Reilly said.
“Make sure that you’re able
to share customer data and/or
life events or challenges and
awareness of the marketplace.”
However, the bank shouldn’t
hesitate to look beyond its
current customers for wealth
management clients. “Don’t be
reliant solely on customers who
are already embedded in your
organization,” said Reilly. “The
bank is a great foundation, but
at the same time we can reach
beyond the current geography
of the bank.”
Growth strategies for
wealth management programs
vary widely between institutions,
but many banks with wealth
management programs tend
to shy away from cultivating
smaller accounts due to cost
considerations. Fedenia recommends a different approach. “A
good strategy would be to hire
some younger professionals
that are really interested in
doing wealth management, and
turn them loose on the existing
small account clients to
cultivate those relationships,”
he said. “Those smaller
accounts will eventually
grow into large, profitable
relationships for the bank.”
Careful Consideration
Before engaging in
efforts to launch or expand
their wealth management
services program, bank
management should carefully
weigh their options and assess
the bank’s current capacity
to service that type of client.
The bank also cannot assume
immediate return on investment
with a new program. “Your
whole business model has
to evolve to support wealth
management,” Bohn explained.
“It won’t provide an immediate
payback. It’s a long term
investment.” That is partially
due to the unique nature of
wealth management. “It’s
really critical to understand
that this is a highly specialized,
highly technical field and very
different from other aspects of
banking,” said Bohn. However,
due to its strong client
retention rates, banks that are
able to fully leverage their
wealth management programs
often reap the rewards for
generations.
Seitz is WBA Communications
Coordinator.
Asset/Liability Management
steepen, or become negatively
sloped (inverted) during the
course of an interest rate cycle.
Yield curve variation can
exacerbate the risk of a bank’s
position by magnifying the
effect of maturity mismatches.
To further complicate things,
these maturity mismatches are
often uncertain and difficult to
predict due to options risk.
Options Risk: Options risk
has to do with the uncertainty
of cash flows due to various
types of options that are
attached to or embedded within
some financial instruments.
These options may alter the
level and timing of cash flows
and create an unpredictable
liquidity situation for the bank.
Unscheduled paydowns of
principal, for example, or call
options attached to bonds are
common reasons for sudden
shifts in balance sheet cash flows.
Summary
Sound management
decisions require an
understanding of the unique
dynamics of the balance sheet.
We must model the expected
behavior of re-pricing balances,
changes in rate structure, and
uncertain cash flows under
different market conditions and
yield curve scenarios. Asset/
liability managers must make
reasonable assumptions that
makes sense for the particular
type of business they do and
the customer base they serve.
Importantly, this requires the
right tools and the right way of
thinking about interest rate risk
and performance.
Caughron is Associate Partner at
The Banker Group LP. For more
information, contact him at The
Baker Group: 800/937-2257,
www.GoBaker.com, or email
[email protected].
22 DECEMBER 2014
Compliance Resources for Wisconsin’s Banking Industry
Three FIPCO products/
services working
together to help banks
stay compliant
Today’s banking industry
faces unparalleled regulatory
scrutiny, compounded by new
regulations that make staying
compliant more complex
than ever. FIPCO offers three
products and services that
are tailor-made to help your
bank meet – and exceed –
regulator expectations.
IT Audit and Security Services
FIPCO’s IT Audit and
Security Services helps
banks to identify control
improvements in the
information security programs
by working with the bank
to identify concerns and
deficiencies before they are
identified by examiners, or
worse, by criminals who would
actionable
exploit those
remediation
vulnerto the
abilities. The
financial
FIPCO IT
www.fipco.com │ [email protected]
institution.
audit and risk
800.722.3498
management program’s
Compliance Services
proactive approach to
FIPCO’s Compliance
risk management offers
Services team helps their
each financial institution
clients with their Compliance
professional expertise in
Management Systems by
several key areas, including:
analyzing and enhancing
IT Risk Assessment;
current systems or by impleInformation Security Program
menting new systems entirely.
IT Operations and General
Additionally, Risk Assessments
Controls Audits; technical
as well as Compliance
vulnerability/penetration
Consulting and Coaching
assessments; and even Human
offer actual recommendations
Firewall Testing. With FIPCO
for improvement rather than
you receive a risk-focused
just a list of problems. The
strategy, along with the
ultimate goal of FIPCO
expertise, understanding and
Compliance Services is
resources for improving your
to deliver the results your
bank’s controls in order to
institution needs without
best mitigate potential areas
muddying the waters with
of risk. What sets this service
apart from many other IT audit extraneous add-ons that
you don’t.
services, is the delivery of
L O AN
™
| M O RTG A GE
Compliance Concierge
FIPCO’s software suite,
Compliance Concierge, is a
modular loan origination and
deposit account opening suite,
capable of integrating distinct
lines of products, including
the loan, mortgage and deposit
modules. It is the only deposit
account opening and loan
origination software that has
the trusted WBA forms at its
core. Accepted as standard
by bank regulatory agencies,
attorneys and the Wisconsin
judiciary, the WBA Forms
help banks ensure they
remain compliant in a volatile
regulatory environment.
These three services come
with the customer service and
support that gives FIPCO its
strong user-friendly reputation.
To find out more, please
contact the FIPCO sales office
at [email protected] or
visit www.fipco.com.
| D E P O SIT
FIPCO's Compliance Concierge™ is a loan origination and account opening system that anticipates your
every need and facilitates your every move. Perhaps best of all, FIPCO is an owner of the Compliance
Concierge™ software, empowering us to facilitate timely enhancements based on user need and feedback.
™
www.fipco.com/concierge
DECEMBER 2014 23
Midwest Bankers Leverage Mortgage & Loan Technology Tools
FIPCO user conference
offered software insights,
compliance updates
The 2014 FIPCO Compliance
& Software Forum, Loan +
Mortgage took place in Stevens Point on November 5-6.
Formerly known as the FIPCO
User Conference, this highly
engaging event offered an
excellent opportunity to gain
valuable insight into getting the
most out of FIPCO software,
like Compliance Concierge,
and successfully handling the
issues currently facing today’s
banking industry.
Event attendees participated
in discussions and heard from
expert speakers on a variety of
topics that centered on the loan
and mortgage products and
services that affect bankers the
most today. Every banker at the
conference gained actionable
information that they could
take back and use immediately.
The first day of the
conference featured six
breakout sessions. One
covered Compliance
Concierge consumer database
and applications, which
taught attendees about the
consumer database and how
to enter assets and liabilities
for individuals. Two other
popular breakouts were
the Compliance Concierge
commercial/ag database and
basic loans session and the
mortgage renewal breakout,
which demonstrated how to
renew a mortgage loan in 10
minutes. Another popular
breakout showed attendees
how to generate mortgage
documents and the data that
prints on them. The capstone
general session of the first
day of the conference covered
Compliance Concierge admin
parameters. Attendees learned
what is available within the
software’s system parameters
so that the software can run
efficiently for all users.
The second day of the
conference kicked off with a
regulatory spotlight session
led by the WBA Legal
Department, which covered
various regulatory changes that
have occurred recently or are
to be implemented soon. Day
two also featured four breakout
sessions, including an in-depth
session covering how entries
made in Compliance Concierge
affect the GFE and HUD.
Day two of the conference
also featured an open forum
peer group discussion where
attendees were able to bounce
ideas and questions off of
their peers. This valuable
networking opportunity was
also incredibly educational for
bankers who attended. Finally,
the conference wrapped up
with the always-popular WBA
Legal Compliance Q&A,
where members of the WBA
Legal Department answered
audience questions submitted
on their registration forms and
at the conference.
What made this conference
unique, however, wasn’t
the informative sessions
or industry experts. It was
the attendees. They are the
key components in making
this event a successful and
worthwhile experience.
Thanks to their enthusiastic
participation, everyone gained
valuable and useful tips
for increasing productivity
and profitability, as well as
improving efficiency in daily
operations at the bank.
Thank you to all attendees
and our three sponsors: the
Federal Home Loan Bank of
Chicago, Kroll Factual Data,
and Merchants Bank.
™
COMPLIANCE CONSULTING
A service to help you navigate the complex compliance landscape.
6
6
6
The
Challenge
The
Solution
Spending less
staff time “being
in compliance”
and more staff time
making loans or
opening deposit
accounts.
Specific
Services
We’re proud to introduce FIPCO
Compliance Services™. We deliver
practical, step-by-step process
improvements, actionable recommendations and comprehensive staff
training through consulting, coaching
and customized regulation reviews.
> Compliance Consulting and
Coaching – specific, in-depth
customizable coaching.
> Customized Regulation Reviews –
specialized assistance covering
specific regulations.
6
Compliance
Qualifications
FIPCO® Director – Compliance
Services Ruth Updike, has over
20 years of experience in bank
management and as a compliance
officer. She knows how to apply
practical solutions to the many
compliance challenges financial
institutions must overcome.
► Getting Started – Contact FIPCO to schedule a complimentary initial consultation to discuss
how we can help ease the stress on your financial institution due to the regulatory burden.
4721 South Biltmore Lane | Madison, WI 53718
P: 800.722.3498 | F: 608.661.9382 | [email protected]
www.fipco.com
Please contact Ruth Updike directly at [email protected] or
by calling 800.722.3498, ext. 255.
24 DECEMBER 2014
Commemorating Service to Generations of Customers
WBA member banks
celebrate milestone
anniversaries
The banking industry has a
long and storied history in
Wisconsin. From being an outlawed practice in the 1840s to
today’s diverse industry, banks
have been helping Wisconsin
consumers buy their first
homes, finance their vehicles
and achieve their business
dreams. Remarkably, nearly
half of Wisconsin’s banks have
been serving their communities
for over a century!
2014 Anniversaries
Congratulations to the
following banks, which
celebrated 100-year anniversaries in 2014:
4 Collins State Bank
4 The First National Bank
of Park Falls
4 Laona State Bank
4 Peoples State Bank,
Prairie du Chien
4 Securant Bank & Trust,
Menomonee Falls
4 Unity Bank, Augusta
4 Waumandee State Bank
2015 Anniversaries
Four Wisconsin banks
will celebrate milestone
anniversaries in 2015:
Celebrating 100 Years:
4 Grand Marsh State Bank
4 Mound City Bank,
Platteville
4 Woodford State Bank
125-Year Anniversary:
4 Mid-Wisconsin Bank,
Medford
Congratulations to all
four banks celebrating
over 100 years of service to
their communities!
Is Your Bank Celebrating a
Milestone Anniversary Soon?
Let WBA know how you plan
to commemorate your bank’s
success! Let us know when
you’re celebrating so we can
join you in commemorating
your success.
A representative from WBA
would be honored to attend
the festivities and present a
commemorative plaque to
banks celebrating 100, 125 or
150-year anniversaries. Or,
email photos and press releases
of your institution’s events to
[email protected]
and let the industry join in
the celebration!
ANNIVERSARIES
Bank
Your Business Is Our Business.
It’s a challenging time for community banks. But you don’t have to meet those challenges alone. The banking-industry
experts at BOSC can help you address today’s most-pressing issues, while identifying opportunities for profitability.
Backed by decades of experience and a wealth of resources, we’ll craft strategies to help you:
• Improve margins
• Boost earnings
• Generate operating efficiencies
• Maintain regulatory compliance
• Manage interest rate risk
Your local BOSC team understands your industry and your market. With a combination of banking expertise and
top-notch service, we’ll help you overcome today’s challenges.
Asset/Liability Modeling and Model Review | Institutional Fixed Income | Portfolio Accounting and Safekeeping
Municipal Credit Analysis | Municipal and Agency Debt Underwriting | CD Underwriting
Milwaukee, Wisconsin | 866.440.6515 | www.boscinc.com
© 2014 BOSC, Inc. Securities offered by BOSC, Inc., member FINRA/SIPC and a subsidiary of BOK Financial Corporation. Asset liability modeling and model review, CD underwriting, portfolio accounting and safekeeping services are provided by BOKF, NA, an affiliate of BOSC, Inc. Investments and insurance
are not insured by the FDIC; are not deposits or other obligations of, and are not guaranteed by, any bank or bank affiliate.
DECEMBER 2014 Harness Compliance
Mindset Matters
The most important
factor in a bank’s approach
to regulatory compliance is
whether they craft policies
and procedures with a “glass
half empty” or a “glass half
full” mentality, according to
Ken Johnson, Principal, Ken
Johnson Consulting. “The
mindset really matters,” he
said. “Presenting compliance
as a positive, supportive
and helpful component of a
bank organization makes a
huge difference.” Employees
should feel supported by
the compliance department,
rather than policed by it. That
removes internal tensions
which reduce the effectiveness
of the bank’s overall compliance
management program.
Ami Dregne, compliance
officer with Citizens First
Bank, Viroqua, pointed
25
out that attitude can also
impact the bank’s ratings
during examinations. “When
compliance is approached
with a ‘glass half empty’
attitude, banks could miss
out on an opportunity to
increase their rating with
examiners,” said Dregne.
“Compliance should be at
the top of everyone’s list in
one way or another.” When
bank staff demonstrates a
positive, proactive approach
to compliance during an
examination, it can indicate to
the examiners that the bank has
sound processes in place and is
invested in compliance success.
Another tactic bank
executives can use to create a
positive compliance mindset is
to hire compliance staff who
share that attitude. It’s critical
that management then provides
compliance personnel with
the right tools to do their jobs
efficiently. “When you do that,
compliance gets a whole lot
less onerous,” said Johnson.
Work From the Top Down
The best way to ensure
that compliance is top of mind
for every employee without
creating a negative atmosphere
around it is for management
to take a strong interest in
encouraging and facilitating a
constructive approach. “Upper
management are the ones that
need to set the stage for this
mindset,” Johnson explained.
“Compliance should be part of
the strategic process.” Establish
(in writing) that the bank’s
approach to compliance will be
proactive. Write policies that
encourage employees to ask
questions and give everyone
the opportunity to voice
compliance concerns.
“The CEO and the board
need to communicate to the
functional management that
compliance is something
we all have to be concerned
about, and that we want it to
help you, not be a burden,”
Johnson said. Communicating
with staff about compliance
is key to establishing a sound
compliance management
strategy, according to Dregne.
“The best way to have a strategic
approach to compliance
management is to have all
lines of communication open
with your management team,”
Dregne said.
Communication is Key
In addition to keeping lines
of communication open with
staff, the bank’s compliance
policies and procedures
should encourage staff to
communicate openly with
customers. “The compliance
person involved in any
interactions you have with
customers – whether it’s
mortgage loans or account
26 DECEMBER 2014
WBA Perspective
Industry briefings for Wisconsin bankers
There’s certainly no shortage of information channels in this day and age. You
Rose Oswald Poels is WBA president and CEO
[email protected] | 608/441-1200
can find out news from around the globe in newspapers, online and even on your
Twitter: @RoseOswaldPoels
smartphone. If you don’t have time to sift through hundreds of articles and news bytes,
here’s what you need to know about what’s going on in the banking industry this month:
Industry News
Milwaukee Council Overrides Veto
of Home Loan Program
Security
Obama Signs Chip-and-PIN Order
for Federal Payment Cards
The Milwaukee Common Council has voted
to override Mayor Tom Barrett’s veto of an
interest-free home improvement loan program
for moderate-income families. Barrett had
vetoed the Housing Stock Improvement Program because it would not require repayment
of a loan if the owner continued living in the residence for 10
years. In this program, loans of $1,000 to $25,000 would be available to owners of single-family homes and residential buildings
with up to four units. Households with incomes up to 200 percent
of the median county income would be eligible to apply. More
information on the Housing Stock Improvement Program is available online at http://media.jrn.com/documents/housingtext.pdf.
President Barack Obama signed an executive order in October mandating that federal
government-issued credit and debit cards use
chip-and-PIN technology beginning Jan. 1,
2015. This will include electronic benefits and
affect an estimated 5.5 million individuals
who receive federal benefits this way. Federal agencies will
also be required to upgrade their equipment to accept EMV
cards. The White House Fact Sheet is available online here:
www.whitehouse.gov/the-press-office/2014/10/17/fact-sheetsafeguarding-consumers-financial-security.
Harness Compliance
opening – need to talk about
the customer experience and
how to make it better,” said
Johnson. He emphasized the
need for bank personnel to
explain why certain forms are
required or transactions are
delayed due to compliance
reasons in a quick and simple
manner. The process must be
transparent for the customer,
no matter how aggravating
it might be for the banker.
“Compliance guidelines are
meant to help banks avoid
problems,” Johnson pointed
out. “Be positive and try to
make it easy on the consumer.”
One area where this is
particularly vital is when
introducing new technology
products/services such as
mobile banking. “Really talk
to your customers before they
sign up for these products
and inform them of the risks
of security they are taking,”
Dregne advised. “That will
help the customer to better
protect themselves as well
as the bank.” Compliance
guidelines might simply
require the customer to opt-in
or sign some paperwork, but
when the bank takes the time
to explain the full scenario
customers feel taken care of.
The WBA staff raised over $7,000 for United
Way during a week-long fundraiser boasting a
variety of activities for staff participation.
“I am very proud of the significant dollars
this staff personally donates each year for
United Way. It is great to be able to say to
our members and to the community that the WBA staff understands the importance of giving back to their community and
proves that through the generous donation of their hard-earned
dollars,” explained WBA’s Rose Oswald Poels.
S
LE
G
AD IS
VO LA
CA TIV
CY E
WBA thanks House Representatives Sean
Duffy, Ron Kind and Reid Ribble for signing
a letter calling on the prudential bank
regulators to take additional steps to resolve
a provision in the Basel III capital standards
that disadvantages the 2,000 community
banks organized as Subchapter S corporations. A copy of the
letter may be found here: www.aba.com/Advocacy/Grassroots/
WINNDocs/LuetkemeyerSubSLetter20141021.pdf.
WBA News
WBA Staff Raises Over $7,000 for Charity
NE
W
Regulatory Advocacy
WI Delegates Sign Basel III Letter
Of course, not all customer
service staff feel comfortable
discussing the ins and outs
of regulations with consumers.
That’s why training is essential.
Dregne described how Citizens
First Bank, Viroqua conducts
regular meetings between
compliance personnel and
CSRs, with the goal being
to allow the CSRs to ask
questions about compliance
and get answers as to why
things are done a certain way.
“The more CSRs understand
about the compliance
procedures, the more
comfortable they are when
face to face with a customer,”
Dregne explained.
Conclusion
Banks can incorporate a
positive mentality and good
internal and external communication into their compliance
programs in order to make them
more effective and less stressful.
Overall, taking the stance that
regulations are designed to help
both the bank and its customers
has a number of positive outcomes. “Having a ‘glass half
full’ approach to compliance can
lead to better communication
internally and also with bank
examiners,” Dregne concluded.
“You also feel more prepared
for the upcoming changes.”
Seitz is WBA Communications
Coordinator.
DECEMBER 2014 27
Bankers Marketplace
H E L P WA N T E D
Retail Banking Supervisor
Bank of Lake Mills is seeking a Retail Banking
Supervisor. This individual will coordinate and
supervise activities of the Personal Bankers
and Tellers in the Lake Mills office to ensure
accurate, efficient, and courteous customer
service. Principal Duties: Develops and
articulates a sales and service philosophy;
Supervised employees, schedules and assigns
work, develops performance standards, etc.;
Holds regular meetings with staff; Ensures the
continuous training of employees and overall
staff development; Expected to perform the
duties of a personal banker and teller when
needed; Ensures continuous compliance
with deposit regulations; Works with the BSA
Administrator to ensure CIP and other BSA/
AML requirements are met; Assists in the overall
marketing efforts of the Bank; Work closely
with Senior Management to select and retain
highly engaged employees. Attributes: Strong
communication skills; Positive attitude and team
leadership; Hard working. Please contact ty@
bankoflakemills.com for more information. All
qualified applicants will receive consideration
for employment without regard to race, color,
religion, sex, national origin, disability status, or
protected veteran status.
Commercial Lender
Bank of Luxemburg, a locally owned and
independent bank voted “Best Place to Work in
Kewaunee County”, is seeking a Commercial
Loan Sales Officer for the Luxemburg Office.
This individual will be responsible to develop
and maintain business relationships with
new and existing commercial borrowers and
deposit customers; Services a wide variety of
businesses and individuals loans, both secured
and unsecured. The ideal candidate will possess
a bachelor’s degree in finance or related field
along with a minimum of three years lending
experience. Advanced training, knowledge and
experience in commercial lending, strong time
management, sales, business development,
computer and analyzing financial statements
required. Must be self-motivated, sales oriented
and possess excellent communication skills.
To view more information about this position
including additional responsibilities and
requirements and to complete the online
application, please visit our website at http://
www.bankofluxemburg.com/other-services/
employment.htm. Bank of Luxemburg. EOEMinorities/Females/Disabled/Vets
Mortgage Loan Officer
Calumet County Bank is a local independent
community bank committed to delivering high
quality services that meet the financial needs
of our community. We are seeking a full time
Mortgage Loan Officer with knowledge of
consumer loan products. The Mortgage Loan
Officer will be responsible for generating
in house and secondary market residential
loans, by actively soliciting new and current
customers, realtors and builders. He or she
will conduct pre-qualification interviews and
explain and recommend the most appropriate
available loan programs, receive residential
mortgage loan applications, quote the rate,
working with Loan Assistants to process the
loan, (and then close the loan). The position
helps define the banks residential mortgage
loan products, services and procedures as well
as establish quality standards and goals. The
candidate should possess an Associate’s or
Bachelor’s Degree and/or three to five years of
relevant mortgage lending experience. Calumet
County Bank is looking for a self-motivated
goal-orientated candidate that pays attention to
detail and has the ability to work independently
and within a team setting. Community
involvement is also a plus. Applicants seeking a
Want to See More Ads?
Visit www.wisbank.com to view a
full listing of job postings or for more
information on placing or responding
to an ad.
challenging, rewarding position while providing
excellent customer service to their clients
should submit their resume to: Calumet County
Bank, Attn: Kim Buboltz, 103 N. Main Street,
P.O. Box 39, Brillion, WI 54110. kbuboltz@
calumetcountybank.com. EOE. Member FDIC
President/CEO
Our client, First State Bank, located in New
London, WI, is a well-established, independent,
full-service community bank with $260 million
in assets. The bank is seeking an experienced
banking professional to succeed the retiring
President and CEO. Reporting to and working
proactively with the Board of Directors, the
President/CEO will provide visionary leadership,
lead the development and implementation of
key strategic initiatives, challenge and motivate
staff, develop and sustain an effective sales
culture, achieve short- and long-term financial
objectives, ensure compliance to mitigate risk,
anticipate industry trends, and participate in
civic and community activities. Ideal candidates
will possess a bachelor’s degree complemented
by 10-15 years of bank management experience
in at least two major areas. A passion and
aptitude for community banking is essential.
Residence within the New London area is
strongly desired. Please send resume, cover
letter and salary requirements in confidence to:
Wipfli LLP, [email protected], Attention:
FSB-President/CEO. Candidates and recruiters
should not contact the Bank. First State Bank
is an Equal Opportunity Employer of women,
minorities, protected veterans and individuals
with disabilities.
Commercial Banker
Janesville, WI. Position Purpose and
Objectives: This position is responsible for
identifying, managing and growing the Bank’s
commercial business relationships. Essential
Job Functions: Develops new relationships
through various networking sources. Manages
existing relationships. Investigates, analyzes
and underwrites borrowers’ loan requests and
prepares proposals and recommendations
for appropriate approval. Cross sells all bank
products. Monitors a business portfolio to assure
loan quality. Maintains awareness of trends in
numerous industries to support our business
development goals. Makes recommendations
for lending/business development processes.
Complies with federal, state, and local legal
requirements by studying existing and new
legislation; enforces adherence to requirements;
advises management on needed actions.
Updates job knowledge by participating
in educational opportunities and reading
professional publications. Enhances compliance
department and organization reputation by
accepting ownership for accomplishing new
and different requests; exploring opportunities
to add value to job accomplishments. All
other duties as assigned. Knowledge, Skills,
and Abilities: College degree required; Prior
experience as a commercial lender/business
development officer required. Strong networking
ability; Self-motivating sales abilities; Ability
to interface with prospects, customers and
vendors in a professional manner; Knowledge
of State and Federal laws; Good communication
(written, oral, and reading) and analytical
skills; Familiarity with computers, Internet, and
financial calculators; Proficiency with Microsoft
Office for Windows (Outlook, Word, and Excel)
is required.; Ability to function in a fast-paced
environment. Please send application materials
to Wisconsin Bankers Association, Attn: Blind
Box H109, 4721 South Biltmore Lane, Madison,
WI 53718 or email to BankersMarketplace@
wisbank.com, subject: Blind Box H109.
Commercial Lender/Vice President
Capitol Bank, with offices in Madison and
Verona Wisconsin, is looking for a Vice
President of Commercial Lending. This
individual will be actively involved in business
development, analyzing and evaluating
credit worthiness, underwriting, assessing
client needs and cross selling Bank products
and services while delivering exceptional
customer service. This individual will report
to the Senior Vice President of Lending and
will be responsible for following all Bank and
regulatory policies. Requirements include a
minimum of 5 years of commercial lending
experience. The ideal candidate would possess
strong business development skills, solid
credit and underwriting competences, sound
communication skills and would be detail
oriented. Familiarity with accounting principles,
commercial loan documentation, banking
laws, regulations and best lending practices
is essential. A Bachelor’s degree in finance,
accounting or economics is preferred. Capitol
Bank, a Madison based community bank with
$300 million is assets, has a strong track record
of growth, profitability and performing loan
portfolio. To learn more about Capitol Bank
visit www.capitolbank.com. Send cover letter
and resume to Gene Bembenek, Capitol Bank,
710 N. High Point Road, Madison WI 53717 or
email [email protected].
Commercial Loan Officer
The Baraboo National Bank, an independent
community bank located in south-central
Wisconsin, is seeking a Commercial Loan
Officer for our Portage National Bank branch
location. The candidate should possess a
bachelor’s degree in accounting, finance,
or a related field and have a minimum of 5
years relevant lending experience including
commercial and consumer lending, business
development and formal credit analysis
complimented by a strong interest in community
banking, excellent people skills, awareness of
products and services desired by customers and
a proven track record of financial performance
and success. Please forward a resume and salary
requirements to The Baraboo National Bank,
Attn: Cheryl Fenske, P.O. Box 50, Baraboo, WI
53913 or email to: [email protected].
An Equal Opportunity Employer
Vice President / Chief Credit Officer
Fox Valley Savings Bank, located in Fond du
Lac, Wis., a well-established mutual savings
bank with over $310 million in assets, is seeking
an experienced lending and credit professional
to fill the position of Chief Credit Officer.
Reporting to the Bank President, the Chief
Credit Officer will provide hands-on leadership
to our existing team of Business Bankers and
Retail Lending Managers. In addition, they
will oversee all aspects of the bank’s credit
administration, ensure compliance with
loan policy and regulations, nurture a credit
culture consistent with Board standards and
expectations, oversee credit analysis and quality
control systems, prepare monthly Board reports,
and be responsible for business development
efforts including direct participation in civic and
community responsibilities. Ideal candidates
will possess a bachelor’s degree in business
administration and/or finance complemented
by 10 years of lending, credit administration
and loan review and management experience.
Residence within the Fond du Lac geographic
area is required. Send resume, cover letter and
salary requirements in confidence to: Fox Valley
Savings Bank, 51 E. First Street, WI or by email
to: [email protected]. Equal Opportunity
Employer of Minorities, Females, Protected
Veterans and Individuals with Disabilities
W ISC ONSIN
BANK ER
Association Officers:
Robert J. Cera (Chair), President and CEO, Baylake Bank, Sturgeon Bay
Peter J. Prickett (Chair-Elect), President/CEO, First National Bank – Fox Valley, Neenah
Cynthia Erdman (Vice Chair), President, First Bank, Tomah
Thomas J. Pamperin (Past Chair), President/CEO, Premier Community Bank, Marion
Rose Oswald Poels, President/CEO, Wisconsin Bankers Association, Madison
Association Board of Directors:
James F. Mayo, President/CEO
Paul C. Adamski, President/CEO
Security Financial Bank, Durand
The Pineries Bank, Stevens Point
Mark Meloy, President/CEO
John Drace, President/CEO
First Business Bank, Madison
Jackson County Bank, Black River Falls
Charles D. Schmalz, President/CEO
Joe Fazio, Chairman/CEO/Co-Founder
East Wisconsin Savings Bank, Kaukauna
Commerce State Bank, West Bend
David L. Schuelke, President/CEO
Mark W. Forsythe, President
Spring Bank, Brookfield
Peoples State Bank, Prairie du Chien
David P. Werner, President/CEO
Daniel Frazier, President – Madison Market
Park Bank, Milwaukee
US Bank, Madison
Jeffrey J. Whitrock, President/CEO
Peter Knitt, President/CEO
Pioneer Bank, Auburndale
Peoples State Bank, Wausau
Wisconsin Banker is published by Wisconsin Bankers Association, 4721 South Biltmore Lane,
Madison, WI 53718; Telephone: 608/441-1200; Fax: 608/661-9381; www.wisbank.com.
Eric Skrum, Editor
(608) 441-1216
[email protected]
Joe Schwartz, Advertising Director
(608) 441-1220
[email protected]
To report a change of address, email us at [email protected].
The publication of advertisements does not necessarily represent endorsement of those products
or services by the Wisconsin Bankers Association. The editor reserves the right to reject any
advertising or editorial copy deemed unsuitable for publication for any reason. Copy deadline is
eight business days before publication date.
Disclaimer: With the exception of official announcements, the Wisconsin Bankers Association
disclaims all responsibility for opinions expressed and statements made in printed articles and
advertisements in the Wisconsin Banker. This publication is designed to provide accurate and
authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting or other professional
services. If legal or accounting advice or expert assistance is required, the services of a qualified
professional should be sought.
28 DECEMBER 2014
Earning your business
one handshake
at a time.
Community banking is all about building and maintaining strong
relationships, starting with a commitment to personal service.
That same commitment is what sets Bankers’ Bank apart. We
enjoy every opportunity to meet with you, to learn more about
your goals and how we can help you best serve your customers.
Always your partner, never your competitor.™
www.BankersBankUSA.com
Matt Kajewski
715.271.0937
Madison, WI • Des Moines, IA • Indianapolis, IN • Springfield, IL
Jeff Niesen
608.577.8081
Rob Shetter
815.441.2656

Holistic financial services to create deeper banking relationships

Transcription

Similar documents

Reshaping the Industry - Wisconsin Bankers Association

Manny Pacquiao Floyd Mayweather

WBA Sports Workshop Heads To The Kohl Center

Fall - IRCO Community Federal Credit Union

In This Issue

Last Chance - Wisconsin Broadcasters Association

Western Wisconsin Tour

Pom Pon Entry Information - Wisconsin State Fair Park

New DFI Secretary Supports Guidance Based on Best Practices

PFC_Qualify_Brochure_English Website - Revised - NEW

CUneXus Improves Loan ROI for Credit Union in 90 days

Fifteen Minutes of Fame with David Bohn

MoneyViewandMoneyDesktop!

Winter 2009 - Gathering Waters

1 Transcending Socialization: A Nine-Year