The Daily Dividend: FMS Publications

News, notes and insights from around the industry

JUNE 18, 2019
FMS Perspectives: CECL Status Check
By Mark Loehrke, Editor, Financial Managers Society

Despite the fast-approaching effective dates for CECL (as early as Q1 2020 for public SEC filers), many financial institutions still don’t have the historical data in place to calculate life-of-loan losses as required by the new standard. More concerning still are those organizations that don’t even have a plan in place for how to go about getting that data – or what to do once they have it. 

So the time is clearly right for the new FMS Perspectives piece, CECL Status Check: How Prepared is Your Financial Institution?, wherein Rick Martin of Fiserv lays out seven key tasks that will not only help banks and credit unions ensure they have the right CECL data (and enough of it), but also offer the potential to save time and money down the road.
 

JUNE 4, 2019
Catch the Latest on FMStv
By Hilary Collins, Specialist, Publications and Research, Financial Managers Society

FMStv: The Importance of a CECL Implementation RoadmapWhile “Game of Thrones” may be officially over, never fear – FMStv is here with a new episode!

As regulatory volatility, economic change and intense competition require financial institutions to take a more holistic view of their balance sheets, Rita Bostick of MountainView Financial Solutions hosts an episode on Considerations to Proactively Address and Manage Balance Sheet Risk. Rita discusses some of the challenges and opportunities facing financial institutions today and strategies to proactively address that risk.

As summer gets underway, must-see TV continues – on FMStv!
 

JUNE 3, 2019
Looking Back at forward
By Mark Loehrke, Editor, Financial Managers Society

Money Talks: FMS forwardWhile hard at work on the July-August issue of FMS forward, we couldn’t help but notice some additional reading related to several of the topics we covered in the May-June issue floating around out there on the web. So if you’re looking to explore a few of those ideas in greater depth, here are a few recommendations to hold you over until our next issue drops.

We took a look at how more banks and credit unions are looking to build and strengthen customer relationships by offering wealth management services in our cover story Money Talks, but if your institution is still on the fence about jumping into this area maybe this will be push it needs – a few robo-advisory fintechs are now looking to offer banking services as well. In other words, they’re coming for your bread and butter – maybe it’s time to start thinking about getting some of theirs. Just make sure you give the people what they want.      
 
Hostile Takeover, our piece on the growing threat of identity theft and account fraud, included a number of tips for staving off scammers. Here’s another take on the cybersecurity challenge and how institutions should think about teaming up (Avengers-style) to fight and win this ongoing battle.  

On the Cutting Edge profiled a pair of credit unions that are trying to stay ahead of the times (and their peers) by building innovative digital solutions for their members. What can your institution do to keep pace with the technological needs of customers? There may be an attractive opportunity in the rapidly changing payments space.    

Our July-August issue is just around the corner – be sure to keep an eye out for it later this month, or be among the first to get your hands on it at the 2019 FMS Forum!
 

MAY 20, 2019
FMS White Paper: Pricing and Elasticity in Financial Institutions
By Mark Loehrke, Editor, Financial Managers Society

FMS White Paper: Pricing and Elasticity in Financial Institutions While the notion of price elasticity may be buried amid memories of some long-ago undergrad economics course for many people, it is a concept that banks and credit unions need to be seriously thinking about in the here and now.  

In his new FMS white paper, Pricing and Elasticity in Financial Institutions, Matthew Speed of Ceto and Associates takes a deep dive into the question of elasticity and what it can or should mean for the pricing strategy of a financial institution. In doing so, he reviews a number of common pricing strategies, assesses the impact the regulatory environment has had on pricing decisions and uses case studies to analyze the potential elasticity of several common bank and credit union services, including ATM surcharges and wire transfer fees. 

Have you reviewed your institution’s pricing strategy recently? How about your old economics lessons? Here’s a great excuse to do both.
 

MAY 7, 2019
FMS Perspectives: The Road to Higher Profits
By Mark Loehrke, Editor, Financial Managers Society

FMS Perspectives: The Road to Higher ProfitsWhile no two institutions may be exactly alike, most of them share the goal of greater profitability. So it certainly makes sense for bank and credit union leaders to take a look at some of the best performers in their industry and try to understand what those industry leaders are doing to get to the top – imitation being not only the sincerest form of flattery, but a great avenue to possibly joining those lofty ranks as well.

In his new FMS Perspectives piece, The Road to Higher Profits, Alec Hollis of ALM First Financial Advisors explores the notion of distinguishing characteristics among high-profit institutions, breaking down how the best performers employ a variety of asset-liability management strategies to be more efficient and increase profits by reducing risks that may adversely impact their profitability.
 

MAY 1, 2019
Money Talks: FMS forward
By Mark Loehrke, Editor, Financial Managers Society

Money Talks: FMS forwardWhether riding in on the wings of technological bells and whistles or hard-to-match rate specials, as more and more competitors enter the fray to lure business away from traditional banks and credit unions, the importance of strong customer relationships has never been more pronounced. 

And what are many of those institutions turning to help forge those bonds? In the new May-June issue of FMS forward, we take the pulse of the membership to get a feel for how wealth management has emerged as a long-term tie to the financial lives of their most valued customers. Elsewhere in this issue, we’re also looking at:

Rethinking Loyalty
A different way to consider customer loyalty, courtesy of FMS Forum keynote speaker James Kane

On the Cutting Edge
Two credit unions with FMS members are leading the charge of tech-forward innovation 

Hostile Takeover
The new accounts that no institution wants are the fraudulent ones
 
These are but a few of the timely stories we’ve pulled together for this issue, so be sure to check out the full print or digital copy. (Not a member? Join today!)

APRIL 22, 2019
FMS Perspectives: The Growing Push for Financial Literacy
By Mark Loehrke, Editor, Financial Managers Society

FMS Perspectives: The Growing Push for Financial LiteracyAmid a slew of new financial literacy initiatives unfolding across the country, one message is becoming clear – many consumers, especially younger consumers, probably don’t know as much about their finances as they should, but they’re eager to learn. What does this mean for banks and credit unions?   

In his new FMS Perspectives piece, The Growing Push for Financial Literacy, FMS board member Robert Segal of Atlantic Capital Strategies, Inc. explains how the financial knowledge gap offers institutions a great opportunity to step up and be active partners in helping their customers learn more and get on the right track – in the process making those relationships both stronger and more valuable going forward.
 



Contributors


Mark Loehrke
Editor and Director, Publications and Research
Email: mloehrke@FMSinc.org 



Danielle Holland
President/CEO
Email: dholland@FMSinc.org 




Hilary Collins
Specialist, Publications and Research
Email: hcollins@FMSinc.org