ABA Banking Journal Podcast
Bank executive insights, unique business strategies, regulatory updates from D.C., and fun banking stories—all this and more on the ABA Banking Journal Podcast, brought to you weekly by the American Bankers Association's award-winning podcast team.
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Disrupting the Transaction Monitoring Landscape
05/24/2023
Disrupting the Transaction Monitoring Landscape
Take a deep dive into the evolving world of transaction monitoring with Ted Sausen, an Anti-Money Laundering (AML) expert from NICE Actimize. Ted provides expert insights into the shifting AML paradigm, shedding light on recent innovations and their implications for your financial institution. Are you ready for the future of AML detection? Discover which game-changing technologies are set to transform the fight against financial crime.
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The anatomy of a community bank ransomware attack
05/18/2023
The anatomy of a community bank ransomware attack
The features an unprecedentedly transparent look into what happens inside a financial institution during and after a ransomware attack. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Evan Sparks shares the true story of this anonymized bank and how it tackled what could have become a crippling ransomware attack. Sparks discusses: How hackers got in, the early moments after an attack happens and how the bank responded. The current ransomware threat environment for banks. How to execute on a cyber incident playbook and mobilize partners and vendors. Messages and services the bank provided to customers during the incident. Fatigue and other challenges facing the bank’s team during the hack. Lessons learned and post-mortem changes the bank made to prevent a future incident.
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Analyzing first-quarter earnings and 2023 annual meetings
05/12/2023
Analyzing first-quarter earnings and 2023 annual meetings
First quarter earnings reports are done, and bank shareholder meetings are currently going on — and rarely have these activities been in the public spotlight as now in the wake of three significant bank failures. On the latest episode of the ABA Banking Journal Podcast — sponsored by — ABA Banking Journal Contributing Editor Paul Davis discusses: The overall resilience seen in the banking sector’s first-quarter earnings reports. The disconnect between the health of the banking sector and financial market performance for certain bank stocks. What to expect from this season’s annual shareholder meetings, including anticipated activist activities. An update on M&A activity in 2023.
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A deep dive into the Section 1071 final rule
05/04/2023
A deep dive into the Section 1071 final rule
The CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act represents major change to how banks process and handle small business loans — taking what in many banks is a bespoke, tailored financial product and requiring a whole new way of doing business. On the latest episode of the ABA Banking Journal Podcast — sponsored by — ABA SVP Kitty Ryan discusses: An overview of the Section 1071 final rule. Implementation deadlines and partial wins in extending them from the narrow timeframes in the proposed rule. Other wins from , including on privacy and on racial and ethnic identification that aligns the final rule more closely with the statute. Software challenges banks will face as they implement the final rule. Despite a few improvements, why ABA continues to be in the final rule — with an for Congress to rescind the rule.
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Counting down to the FedNow launch
04/28/2023
Counting down to the FedNow launch
After years of being “FedSoon,” the Federal Reserve’s instant payment network FedNow is preparing to go live this summer. What do banks need to know in the final months before launch? On the latest episode of the ABA Banking Journal Podcast — sponsored by — ABA SVP and payments expert Steve Kenneally discusses: Key implementation deadlines for FedNow in 2023. How FedNow compares to existing instant payments services like RTP and Zelle. Lessons from the FedNow pilot experience. Business strategies that banks are employing in their FedNow rollout. Where to start with core providers on FedNow implementation. If you can’t see the audio player above, to listen to this week’s episode. .
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Designing and launching a special-purpose credit program
04/20/2023
Designing and launching a special-purpose credit program
For many small business owners, the first step on the credit ladder is the hardest, and they may miss opportunities to build business credit and grow their business while relying on personal credit instead. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Amegy Bank EVP Jevaughn Sterling talks about Zions Bancorporation’s Small Business Diversity Banking Program, organized as an “special-purpose credit program” under Equal Credit Opportunity Act. Sterling discusses: What defines an SPCP and how it is designed to improve access to capital by helping small business owners build business credit instead of relying on personal credit. How Zions designed the Diversity Banking Program to be tailored to the needs of disadvantaged small business borrowers. How loan terms may look similar and different for Diversity Banking Program participants. The nuts and bolts of designing, getting regulatory approval for, launching and marketing the Diversity Banking Program. Results seen, lessons learned and tips for other banks considering a special-purpose credit program. His own career journey as a commercial lender. .
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The just-do-it mindset in community bank innovation
04/13/2023
The just-do-it mindset in community bank innovation
How can community bank emerging leaders take initiative in innovation? The latest episode of the ABA Banking Journal Podcast — sponsored by — features a conversation with Tim Shangle, AVP for innovation and data analytics at ChoiceOne Bank in Sparta, Michigan. Shangle, who is also vice chair of ABA’s Emerging Leaders Council, advises bankers to take small steps and explore what new technologies — say, ChatGPT — can do. Shangle also discusses his own unusual career path from seminary training into banking and how he carved out a niche for himself as a go-to for innovation.
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Meet Anna Martin, a Texas banking pioneer
03/30/2023
Meet Anna Martin, a Texas banking pioneer
The ABA Banking Journal Podcast — sponsored by — wraps up Women’s History Month with a conversation on an early Texas banking pioneer: Anna Mebus Martin (1843–1925). Museum curator Diana Vela tells the story of Martin, a German immigrant who arrived in the Lone Star State at age 14 and settled in rural west-central Texas. At the age of 35, Martin was widowed and began a long and successful career as a postmaster, storekeeper, rancher, barbed-wire entrepreneur and, ultimately, a community bank founder and president. As Martin once put it in a surviving letter, “I heard men say, ‘She is only a woman,’ but I showed them what a woman could do.”
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Crisis response with the most vulnerable in mind
03/24/2023
Crisis response with the most vulnerable in mind
Revisit the critical days of March and April 2020 in Washington on the latest episode of the ABA Banking Journal Podcast. In this episode — sponsored by — former Federal Housing Finance Agency Director Mark Calabria discusses his new book . Calabria recounts the key decisions made in designing COVID-19 forbearance policies for Fannie Mae and Freddie Mac-owned mortgages and how he tried to avoid problems experienced during the post-financial crisis forbearance programs. Whereas many observers believed post-2008 relief was not well-targeted, Calabria said FHFA sought to target COVID forbearance to those who needed it most, including encouraging landlords to pass on relief to renters who otherwise cannot tap into homeowner forbearance. In the end, he says, 2 million Americans were helped and the relief was fully paid for by the GSEs. Calabria also discusses lessons for future crisis responses.
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A critical moment to hear from top banking policymakers
03/16/2023
A critical moment to hear from top banking policymakers
After the fallout from the Silicon Valley Bank failure, the is one of the most important events to hear from the banking policymakers shaping the response — including Treasury Secretary Janet Yellen and all “big four” in Congress: Senate Banking Committee Chairman Sherrod Brown (D-Ohio) and Ranking Member Tim Scott (R-S.C.) and House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and Ranking Member Maxine Waters (D-Calif.). On the latest episode of the podcast — sponsored by — ABA’s Rob Nichols and Kirsten Sutton preview the Summit program and why this is such a critical moment to share expertise with lawmakers and hear from those shaping the response to SVB and Signature Bank. “You’ll get the benefit of the latest thinking and what’s the path forward, and we have them all back to back in one day,” Nichols says.
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How a community bank boosted its consumer mortgage program
03/09/2023
How a community bank boosted its consumer mortgage program
How does a community bank whose bread and butter was mortgage lending make the business sustainable in a time when mortgages have increasingly moved to the nonbank sector? “We made a conscious decision,” says Benjamin Bochnowski, CEO of $2 billion-asset Peoples Bank in Munster, Indiana. “We had to modernize it and help it grow; it couldn’t exit as a small mortgage operation that only originating $40 million a year in mortgages.” On the latest episode of the podcast — sponsored by — Bochnowski, who is also president and CEO of Peoples’ parent company Finward, talks about how Peoples Bank built a residential mortgage operation that accounts for a third of its real estate lending portfolio and that originated about $80 million in mortgages last year for portfolio (with more sold in the secondary market). He also talks about how the bank deployed new underwriting and servicing platforms to improve operational efficiency and enhance customer experience. Bochnowski also discusses how Peoples Bank seeks to embody its mutual heritage even after its stock conversion, the bank‘s organic growth strategy and opportunities for M&A deals, and his own career journey in community banking.
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Building banker skills with cross-generational learning
03/01/2023
Building banker skills with cross-generational learning
As a bank leader, Alicia Wade notes that we’re at a unique moment that won’t recur for many years: having four generations, from Baby Boomers to Gen Z, working alongside each other. “Being able to have four generations in the workplace and understand what each of them values and what we can learn from each other” allows not just for top-down mentorship but for cross-generational learning and inspiration, she notes. “I have mentors in each age demographic.” On the latest episode of the podcast — sponsored by — Wade talks about the community bank workforce and career opportunities and traces her own “accidental” her career path from teller to becoming president and COO of $560 million Valliance Bank in Oklahoma City. Wade talks about the broad range of careers in banking. She also discusses what she’s most excited about in the community bank customer service experience. Finally, as a member of the Oklahoma Bankers Association’s Government Relations Council, Wade discusses several issues on the radar in the Sooner State, including ESG issues and cannabis banking. On March 7, Oklahomans will vote on legalizing recreational marijuana, and the state already has one of of the loosest frameworks for medicinal marijuana regulation, making the state the “wild wild West of marijuana,” Wade says, highlighting the importance of getting legislation like the SAFE Banking Act passed.
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A classic love story gets its start in a D.C. bank branch
02/13/2023
A classic love story gets its start in a D.C. bank branch
For Valentine’s Day, the ABA Banking Journal Podcast — sponsored by — brings you a classic boy-meets-girl love story. Virginia Rollins had moved to Washington, D.C., as a young woman in the 1950s and got a job as a teller at , a Black bank still operating in the nation’s capital. A young bank customer named Ben Ali came in to make a deposit, but he was smitten with Virginia and left his phone number too. To make a long story short, Virginia and Ben founded one of Washington’s most legendary dining establishments, in the heart of “Black Broadway” on U Street. Virginia reflects on her early career in banking, how the connections she made at the bank helped her and Ben grow their business and the importance of minority depository institutions today. She also shares stories of hosting Martin Luther King Jr. during the Civil Rights Movement, surviving the 1968 D.C. riots and the long years of urban renewal and how Ben’s has grown today.
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Black History Month: Maggie L. Walker’s Historic Mission of Financial Empowerment
02/03/2023
Black History Month: Maggie L. Walker’s Historic Mission of Financial Empowerment
In 1903, Maggie Lena Walker became the first Black woman to charter a U.S. bank when she opened the St. Luke Penny Savings Bank in Richmond, Virginia, as the bank’s first president. In a classic replay episode of the ABA Banking Journal Podcast — sponsored by — historian Shennette Garrett-Scott tells the story of Walker and her mission to help Black women find financial empowerment and professional career opportunities. Garrett-Scott, the author of , discusses: How Walker countered impressions that Black women were uniquely risky bank clients. The broader context of African-American banks and what set Walker’s St. Luke Bank apart. The relationships between Black banks and mutual aid societies and fraternal organizations like the Independent Order of St. Luke. How newly professionalized Progressive Era financial regulators threw up hurdles to Black-owned banks and insurers. The St. Luke Bank’s relationships with white-owned banks in Richmond and elsewhere.
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Why recession odds for 2023 are fifty-fifty
01/26/2023
Why recession odds for 2023 are fifty-fifty
As the Federal Reserve continues its efforts to drive inflation lower this year and next, the ABA Economic Advisory Committee expects stalling economic growth in 2023, followed by a modest recovery in 2024. On the latest episode of the podcast — sponsored by — EAC Chair Simona Mocuta shares the committee’s . The chief economist at State Street Global Advisors also discusses the committee’s 50/50 recession odds for 2023, their surprising forecast for a rate cut by the end of the year (signaling their confidence in the Fed’s ability to bring down inflation), how the economic outlook may affect loan demand and credit quality.
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Top bank tech and innovation trends for 2023
01/19/2023
Top bank tech and innovation trends for 2023
What’s on the horizon for bank innovation and fintech in 2023? In this episode of the ABA Banking Journal Podcast — sponsored by — ABA’s Office of Innovation team explores top tech trends for the year ahead. Among other topics, they discuss the growing role of investment in foundational infrastructure like core processing, how APIs and are helping banks innovate, declining consumer interest in crypto (although digital assets broadly remain an area of focus), what new AI tools like ChatGPT may mean for banking, the importance of in fraud prevention, and how banks are changing their strategies internally to promote innovation.
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How CDFI status helps one community bank stay independent
01/17/2023
How CDFI status helps one community bank stay independent
“We’re a small bank, and it gets more expensive all the time to run a small community bank,” says Andy Anderson, president and CEO of Bank of Anguilla in Anguilla, Mississippi. “As long as we can do this profitably and remain in our community, that’s what we want to do. [CDFI] designation has helped us tremendously over the last few years to remain here and serve our community.” In this episode of the ABA Banking Journal Podcast — sponsored by — Anderson discusses why Bank of Anguilla became a community development financial institution. The bank was already doing CDFI work in its rural Mississippi Delta market in two of Mississippi’s poorest countries, and Anderson discusses how certification has helped the bank pursue its mission and remain independent. Awards from the CDFI Fund — such as the Bank Enterprise Award — “have become a valuable source of income for Bank of Anguilla,” Anderson notes. Anderson will discuss the role of CDFIs, including banks, in advancing economic inclusion at the , Feb. 12-14 in Orlando.
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What’s on banks’ policy agenda for 2023?
12/20/2022
What’s on banks’ policy agenda for 2023?
What’s on the banking industry’s policy radar for 2023? ABA’s Government Relations Council recently met in Washington, D.C., and GRC Chair Cathy Owen joins the podcast — sponsored by — to recap the topics of consideration as the association prepares its banker-led for the coming year. Highlights include driving a healthy and inclusive economy, supporting a dynamic and innovative banking industry and protecting consumers with consistent regulation. Owen, who is chairman and CEO of State Holding Company in Little Rock, Arkansas, also discusses her own career background in community banking, her message on advocacy, challenges her bank is facing with hiring and talent and what she’s doing to elevate women in leadership in Arkansas’ banking sector.
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The community bank M&A outlook for 2023
11/21/2022
The community bank M&A outlook for 2023
As the end of the year draws near, banking journalist and analyst Paul Davis joins the ABA Banking Journal Podcast, sponsored by , to discuss the bank mergers and acquisitions outlook for 2023. Among other topics, Davis discusses: Factors driving lower M&A rates in 2022 Why interest rate trends may make banks more attractive to investors and less attractive for acquisitions by banks The trend of investment groups purchasing bank charters How depressed valuations in the fintech sector may affect bank M&A and de novo activity
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Something old, something new in payments fraud
11/16/2022
Something old, something new in payments fraud
Something old, something new: In 2022, check fraud remains a focus of bank risk professionals, while instant P2P payments are an increasingly popular platform for scammers seeking to take advantage of consumers. With respect to the latter, consumers need to realize that “this stuff behaves like cash,” says Peter Tapling on the latest episode of the ABA Banking Journal Podcast, sponsored by . That immediacy is why these platforms are attractive to both consumers and fraudsters. On this episode, Tapling and ABA’s Paul Benda discuss: The persistence of check fraud and check washing scams in 2022. How banks are tackling fraud that employs P2P instant payment platforms. Liability for transactions authorized by a customer that are later claimed to be fraudulent. The importance of consumer education campaigns like and “.” Controls banks can put in place to limit fraud attempts without slowing down all instant payments across the board. Tapling and Benda will discuss this topic in greater depth at , Feb. 12-14, 2023, in Orlando.
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What corporate CFOs can tell us about the direction of the economy
11/07/2022
What corporate CFOs can tell us about the direction of the economy
For U.S. businesses, lagging indicators may be at odds with leading indicators like business sentiment. “The headlines we see in the market can sometimes be inconsistent with what we see on the ground,” says Stephen Philipson, head of commercial products at U.S. Bank. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Philipson discusses findings from U.S. Bank’s , among them: CFOs’ transition from growth mode to risk management mode in 2022. How large and middle-market firms are balancing the pressures of inflation and talent recruitment and retention. Why corporates are stepping back to re-evaluate the role of environmental factors in ESG activities. How banks can design products to address corporates’ concerns on talent, inflation, digital transformation and more.
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Fueling innovation through a venture strategy
10/27/2022
Fueling innovation through a venture strategy
Banks of all sizes access the innovation ecosystem through in-house development, fintech partnerships, acquisitions and venture investment. Huntington Bank does all four. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Huntington Bank CFO Zach Wasserman talks about the $100 million Huntington Corporate Ventures initiative to expose the bank to cutting-edge tech and fuel its digital transformation. In this episode, Wasserman discusses: How Huntington decides when to acquire, partner, invest or some combination of the three. Business lines where HCV is looking to invest: payments, business banking, wealth and consumer mortgage. Details about Huntington’s partnerships with companies like Blend Labs and InvestCloud. How banks can provide value to fintech startups as investors and partners. What banks can learn about the role of due diligence and risk management in venture investing. What’s ahead for Huntington Corporate Ventures, which was launched in 2020 and is now expanding.
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Trends and tips for preventing grandparent scams
10/20/2022
Trends and tips for preventing grandparent scams
Grandparent scams are a particularly pernicious fraud — one that preys on seniors’ love, care and concern for their family members. How can banks recognize these scams and work with law enforcement to protect clients? On the latest episode of the ABA Banking Journal Podcast — sponsored by — Jackie Blaesi-Freed and Lauren Elfner of the Justice Department’s Consumer Protection Branch discuss: DOJ’s expanded to tackle elder fraud attempts that usually come from overseas. Recent DOJ enforcement actions relating to grandparent scams, including . Current trends and typologies in grandparent scams, including how they intersect with impostor scams. Red flags for bank employees when they might encounter a grandparent scam in progress. SAR filing, relationship-building and other partnerships between banks and law enforcement. Learn more: Access resources to protect seniors through the ABA Foundation’s program.
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Practices to accelerate a bank’s DEI journey
10/13/2022
Practices to accelerate a bank’s DEI journey
“Diverse teams who have cohered at a team — this means they’ve done some work — outperform homogenous teams,” says ABA SVP Naomi Mercer. “Diverse teams who haven’t done that work of inclusion underperform homogenous teams.” On the latest episode of the ABA Banking Journal Podcast — sponsored by — Mercer goes beyond diversity to explore how banks and other businesses can apply intersecting practices of diversity, equity and inclusion. Distilling insights from her new book, , Mercer discusses: How to learn from mistakes in DEI practices. The importance of moving unconscious biases into the conscious environment where they can better be addressed. The usefulness of DEI self-assessments and audits in building DEI strategies. How banks of all sizes are seeking to be more diverse, equitable and inclusive. Learn more:
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Inspiring rising leaders to be part of something bigger
10/05/2022
Inspiring rising leaders to be part of something bigger
As a leader in selecting and developing potential Chick-fil-A restaurant operators for many years, André Kennebrew conducted around 8,500 talent interviews. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Kennebrew talks about what he learned about talent from one of America’s fastest-growing and top-rated consumer brands. He also discusses: The difference between hiring and selection and why it matters for recruiting Gen Z and millennial talent The role of nature and nurture in leadership capability His favorite interview questions What he learned about leadership and talent from his pre-Chick-fil-A career as a bank executive and administrative pastor Learn more: Kennebrew will speak on these topics at the s, Feb. 12-14 in Orlando.
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How middleware can accelerate community bank innovation
09/22/2022
How middleware can accelerate community bank innovation
Christian Ruppe co-founded a when he was in college — and later he brought his experience in-house in the community banking space. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Ruppe talks about Colony Bank’s strategy to build middleware that will enable more rapid innovation. “Were not asking people to integrate with this vendor or that vendor,” says Ruppe. “We’re giving them our documentation and asking them to integrate with us.” On the podcast, Ruppe also discusses: Why an API-based middleware will help accelerate innovation and product launches. The changing role of in a middleware environment. How his experience as a fintech co-founder affects his outlook as a community banker. How community banks can build cultures of integrated innovation.
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How can federal mutuals and thrifts benefit from HOLA flexibility?
09/14/2022
How can federal mutuals and thrifts benefit from HOLA flexibility?
After a long legislative and regulatory advocacy effort, federal thrifts can finally elect “covered savings association” status, allowing them to exercise national bank powers without having to change their charters, holding companies or cultural identities as savings institutions. On the latest episode of the ABA Banking Journal Podcast — sponsored by — two experts walk through why eligible federal savings associations may wish to approach this election. Luse Gorman attorney Larry Spaccasi and ABA SVP Joseph Pigg discuss ABA’s role in under the and its to ensure institutions can benefit from the election at the holding company level, as well as the factors that thrift leaders can consider when deciding to make the election to become a CSA. Spaccasi and Pigg will be joined by a bank CEO to elaborate on these topics in greater detail at ABA’s , Oct. 2-4 in Austin.
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How #BanksNeverAskThat helps protect bank clients against fraud
09/07/2022
How #BanksNeverAskThat helps protect bank clients against fraud
The latest incarnation of ABA’s award-winning anti-phishing campaign returns in October. On the season premiere of the ABA Banking Journal Podcast — sponsored by — ABA Chair Scott Anderson talks about how Zions Bank has been involved in #BanksNeverAskThat in the past and why Zions is excited about the refreshed campaign for 2022. Offering a couple sneak previews of the new creative elements, ABA’s Peter Cook also discusses how the campaign has been updated to educate consumers about how to protect themselves from scams using mobile payment apps, as well as the results bankers have seen from #BanksNeverAskThat participation. “I hope banks everywhere will take advantage of #BanksNeverAskThat,” Anderson says. . If you can’t see the audio player above, to listen to this week’s episode. This episode is sponsored by .
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Engineering a framework for enterprise risk
07/28/2022
Engineering a framework for enterprise risk
As a former engineer, Jennifer Schmidt brings an understanding of systems and integration to her work as a community bank chief compliance officer. On the latest episode of the ABA Banking Journal Podcast — sponsored by — Schmidt discusses the development of an integrated enterprise risk management framework, which encompasses her work overseeing compliance, Bank Secrecy Act oversight, exam management, internal audit oversight and risk assessment facilitation. This model, developed by Schmidt for her capstone project, keeps risks owned by the the business leaders but ensures awareness of risk connectivity and collaboration by managers across the bank — in a flexible way that works for an individual bank. Schmidt also discusses her background as an engineer and consultant before joining the financial services sector to manage acquired bank integrations in a fast-growing organization, as well as her experience as a Stonier student.
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Making the move from a stock bank to a mutual
07/27/2022
Making the move from a stock bank to a mutual
After spending more than a quarter century in de novo commercial banks, Dave Hanrahan made a career move to a mutual savings bank, and he hasn’t looked back. On the latest episode of the the ABA Banking Journal Podcast, sponsored by , Hanrahan talks about the transition to mutual banking as president of Century Savings Bank in Vineland, New Jersey. Hanrahan discusses the key differences and how his bank tackles the traditional challenges mutuals face in capital for growth. Hanrahan also discusses the commercial real estate market and how bankers can respond to the first rising rate environment in a generation. And as a member of the ABA Foundation board of directors, Hanrahan provides an update on the foundation’s and the role banks play in community engagement.
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