As part of its ongoing educational outreach efforts, Bankers’ Bank of the West held two security-focused interactive webinar sessions in September for community banks’ BIDS administrators. Some 60 bankers representing 47 banks participated in the classes, which were led by BBW Vice President–Cash Management Services Mary Brown.
Mary explained, among other things, where to pull reports and information often requested by examiners and auditors; how to assign user access and rights; the process of viewing and updating user permissions; and the use of biometric security. BBW SVP–Operations Debbie Wendt joined both webinar sessions, and together she and Mary Brown responded to additional questions from the participants.
Community bankers who took part in the seminar were later invited to complete a feedback survey. Among those who returned the survey, 89% said the information was valuable to them; the same number replied the session addressed what they had expected to learn. No fee was charged for the webinars, which BBW provides as a value-added service for BIDS customer banks.
The topic for the next round of BIDS webinars—to be scheduled in the fourth quarter—has not yet been chosen. Please email your topic suggestions to firstname.lastname@example.org.
Most community bankers agree that keeping pace with industry and regulatory changes is among the most taxing and time-consuming challenges they face.
Take vendor management, for instance—an increasingly intense area of focus for bank examiners. If your people have already created and activated an effective vendor management plan for your bank, congratulations!
But otherwise…could you use some help?
In November, a professional trainer with the WesPay payments association will hold two webinars on vendor management exclusively for Bankers’ Bank of the West account holders. This is high-quality, job-specific, convenient training your staff won’t need to leave the bank to attend. What’s more, there’s no limit to the number of employees who can participate from a single reserved connection, which lets you maximize your investment.
The courses remaining in the 2015 webinar series (presented by BBW and WesPay) are listed below; click here for content descriptions. Keep in mind that fees for these sessions is priced significantly lower than other programs of similar length.
Monday, October 5 ACH Risk for ODFIs
Thursday, November 5 Vendor Management—Part 1
Tuesday, November 10 Vendor Management—Part 2
Tuesday, December 8 Check Fraud Risk and Mitigation
All classes start at 1 pm Mountain time. To receive pricing information, email your request to email@example.com.
An October 2014 paper—2014 ICBA American Millennials and Banking Study—details surprising findings from a nationwide study by the Independent Community Bankers of America® and The Center for Generational Kinetics LLC. The survey results indicate, among other things, that as a group, Millennials are driven by entrepreneurial ambitions and eager for financial education.
The paper, which is accessible online to ICBA members, summarizes the study results. Further, it lays out strategies and action steps for community banks seeking to engage and serve Millennials. To download the paper, visit the Press Room at icba.org. Log in and click on News Releases. (The study was released October 15, 2014.)
As the older population in the U.S. continues to grow, so too have attempts to prey on the elderly. Efforts to inform the public of this reality as well as the tactics commonly used by would-be predators have been stepped up in recent years.
Many state and local government agencies have joined forces with nonprofit and advocacy groups to prevent financial crimes and assist victims. In addition, some states have enacted laws requiring people in designated professions to report suspected abuse or neglect of elders. Those mandates vary significantly from state to state.
Community bankers, in their role as trusted financial advisors, would be well-advised to determine whether any reporting requirements that pertain to them. Even if no requirements apply, you could proactively identify many effective no-cost sources of information that could someday prove helpful to your employees and your customers.
A good place to start is your state attorney general’s website or your local district attorney’s office. The National Center on Elder Abuse Administration on Aging website contains an interactive map that provides centralized access to state-specific catalogs on the prevention of elder abuse.
Elsewhere on the same site is a library of publications on many subtopics relating to the senior population—including financial abuse and durable power of attorney. There’s even an index of podcasts and webinars.
The Consumer Financial Protection Bureau website enables the downloading of easy-to-read printable booklets for people entrusted with managing others’ money. If you’d like to keep a supply of any of these “financial caregiver” booklets on hand at the bank, you can use a link on the same page to order free print copies.