The FMS Forum 2017 / Big Data: Practical Uses for Financial Institutions / Using Profitability to Incentivize the Right Behavior

By: Sharon J. Lorman
Jeffrey P. Marsico

Guests: Danielle Holland, President and CEO, Financial Managers Society (FMS) and John Westwood, Past Chairman of the Board, FMS and SVP and CFO, Mansfield Bank

Podcast Show Notes:

Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking news that happened this month. TMIB will be available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute or at your desk.

Topic 1: The FMS Forum 2017
Start time 2:15
This month we join hundreds of finance and accounting professionals from community banks, thrifts and credit unions from across the country at the 2017 Financial Managers Society (FMS) Forum in Las Vegas. Danielle Holland, President and CEO of FMS and John Westwood, Past Chairman of the Board of FMS and SVP and CFO of Mansfield Bank, join us to talk about the FMS Forum and all the new and exciting features that enhance membership in FMS. As the only event designed specifically for community financial institutions, The Forum offers opportunities to connect and build professional relationships with peers from community financial institutions. FMS Connect is the Financial Managers Society’s members-only networking community with discussion boards, resource libraries and networking opportunities. It provides members with a great way to interact and share what’s on their minds including challenges and opportunities in community banking. The panels discusses the top engagement topics this past year on FMS Connect.

Topic 2: Big Data: Practical Uses for Financial Institutions
Start time 11:37
Bryan Easley, VP from Haberfeld Holdings, presented Big Data: Practical Uses for Financial Institutions at the FMS Forum. He defined big data and spoke about financial institutions’ large untapped wellspring of data at their disposal. He highlighted the challenges, opportunities and potential value banks can gain from the data in technology systems and shares interesting findings from the analysis of millions of bank accounts.
What is this “Big Data” buzzword and does your financial institution mine “Big Data” to make better and more informed decisions?

Topic 3: Using Profitability to Incentivize the Right Behavior
Start time 22:04
Our own Jeff Marsico dazzled attendees at the FMS Forum with his presentation on creating the right incentives that balance the needs of customers, employees and the institution all while maintaining and/or growing profitability. He answers the question of how to use profit measurement and improvement at the business unit, officer and customer levels to help drive a culture that leads to positive behavior to increase franchise value.
What is our collective experience with incentive compensation systems and what has been effective?

Watch for episode 19 of This Month in Banking to be released on Wednesday, July 26, 2017 and a new episode on the last Wednesday of every month.

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