Who in your community bank should be using planning specialty software? Accounting, the Board, the ALCO? You might be surprised as to how many various areas/departments and their respective managers should actively use and benefit from an automated planning system.
What are the various functional areas and departments that should be actively involved in planning at your community bank?
Lately I’ve talked to a lot of bankers who are actually looking forward to the inevitable rise in market interest rates. They believe that their institution’s net interest margin and profit will increase because that’s what their rate risk analysis is telling them.
If you are a parent, you use "what if" scenarios every day with your child. What if you get lost? What if you saved your allowance rather than spend it? What if your friends ask you to…? What if you study for that test? What if a stranger offers you a ride?
This past year, I sent my oldest off to college for the first time. Amid the tears (ours) and shouts of joy (hers) there was much hard work, paperwork and check writing involved to get her to this point. And while we want her to celebrate what she has already accomplished, we also want her to focus on the details needed to get her to the next milestone - College Graduation. Fortunately, she does have a mandatory Strategy 101 class that – among other things - requires her to map out her course schedule for the next four years. The focus is not to create a roadmap that she should not deviate from, but rather to get her thinking about how to build in nice-to-haves (study abroad), plan for some "what-ifs" (change of interests), and to regularly check back in to see if she is staying on course or needs to alter her path.