Bank Board Letter October 2014 : Page 2

specific P2P service, or bank at a certain financial institution. Many services, including the Fiserv’s Popmoney personal pay-ment service, ensure this ubiquity by offering websites where payment recipients can go to claim money, even if their financial institution does not offer the service. Another way to grow the reach of P2P services while stream-lining the user experience is through improved interconnectiv-ity between strategic P2P providers. An open network approach in which P2P providers connect to each other, not just to their specific targeted group of consumers, would speed consumer adoption, eliminate confusion and increase usage of person-to-person payment services. 20 percent higher adoption rate if a real-time, competitively priced P2P payment option is offered in addition to three-day and next-day delivery options. Consumers have shown that they are willing to pay a reasonable fee for the added convenience of having a payment transmitted instantly. As payment times speed up and recipients have the same im-mediate satisfaction as having cash in their hand, digital P2P payments have the opportunity to replace more of today’s cash-based transactions. Moving to MainStreaM While the transition from cash and checks to digital social payments will not happen overnight, adoption is accelerating as the services mature and consumers grow more familiar with the benefits. Financial institutions and P2P service providers have the opportunity to accelerate this process by educating consumers and promoting the benefits of these services, pursu-ing greater ubiquity and interconnectivity and well as offering faster payment options. Tom Roberts is senior vice president of marketing and electronic payments for Fiserv. For more information, visit www.Fiserv.com. More Speed Consumers increasingly expect to be able to make next-day, same-day and real-time payments. They want to choose the option that best meets their needs and the requirements of a specific transaction. A “real-time first” mentality, which assumes that real-time is the ultimate standard of delivery, makes sense for digital payments. While this level of speed may not always be necessary, it is important to have faster payment options. Fiserv research indicates that financial institutions should see a RecRuiting Quality leadeRship bReeds success By Mark aBernathy a s the president for one of Georgia’s most well capitalized banks, Community & Southern Bank, I have come to real-ize one of the prerequisites for success is building a strong team of trusted leaders Ð from executives to branch man-agers. This is especially crucial for institutions operating in the mergers and acquisitions model. CSB’s continued growth and success of reaching $3.4 billion in assets and nearly 600 employ-ees since 2010 is due in large part to the excellent leaders who have joined us over the past four years. Quality financial leader-ship not only boosts your bottom line Ð it strengthens your rep-utation as a bank and as a trusted advisor opposed to a depository. Due to the high caliber of business clients and communities we serve, our leaders inevitably become partners in our customers’ financial decisions, which range from helping businesses custom-ize their treasury management tools while optimizing cash flow to providing sound advice on multi-family construction loans and mortgages to safe deposit boxes and mobile banking. With banks being held to a higher standard more now than ever before, it is crucial to seek out talented, customer-focused individuals who possess integrity when seeking new hires. Here are a few strategies for growing banks to help navigate the recruitment process: UnderStand yoUr needS before condUcting interviewS Before recruiting begins, sit down with your existing leaders and make sure you understand what the team needs to increase productivity. Understanding your leaders’ strengths and the challenges their teams are facing is the starting point to success. Get their perspective on what tools and resources are needed and what Ð if any Ð improvements are necessary as a prelude to a new hire. Listening to your team members’ and senior managers’ points of view will help shape and/or confirm the qualities and skills you are looking to add to your institution. Learning the ins and outs of your lines of business not only provides a more refined search as you look for your next candidates, but will also build the trust between you and your team that is essential for growth. pinpoint thoSe who continUally raiSe the bar Senior-level candidates will always present a robust resume that boasts several successful project completions and plenty of management background experience; however, the asset that makes a candidate truly stand out is his ability to raise the bar for your bank. Review the following questions when considering a new leader in your organization, regardless of level. Does the candidate have a vision for his or her department and the bank? Will he or she represent your company’s values Next moNth: Commercial Lending Goes high-tech the Perks of SeRPs

RECRUITING QUALITY LEADERSHIP BREEDS SUCCESS

Mark Abernathy


As the president for one of Georgia’s most well capitalized banks, Community & Southern Bank, I have come to realize one of the prerequisites for success is building a strong team of trusted leaders Ð from executives to branch managers. This is especially crucial for institutions operating in the mergers and acquisitions model. CSB’s continued growth and success of reaching $3.4 billion in assets and nearly 600 employees since 2010 is due in large part to the excellent leaders who have joined us over the past four years. Quality financial leadership not only boosts your bottom line Ð it strengthens your reputation as a bank and as a trusted advisor opposed to a depository.

Due to the high caliber of business clients and communities we serve, our leaders inevitably become partners in our customers’ financial decisions, which range from helping businesses customize their treasury management tools while optimizing cash flow to providing sound advice on multi-family construction loans and mortgages to safe deposit boxes and mobile banking.

With banks being held to a higher standard more now than ever before, it is crucial to seek out talented, customer-focused individuals who possess integrity when seeking new hires.

Here are a few strategies for growing banks to help navigate the recruitment process:
UNDERSTAND YOUR NEEDS BEFORE CONDUCTING INTERVIEWS
Before recruiting begins, sit down with your existing leaders and make sure you understand what the team needs to increase productivity. Understanding your leaders’ strengths and the challenges their teams are facing is the starting point to success. Get their perspective on what tools and resources are needed and what Ð if any Ð improvements are necessary as a prelude to a new hire.

Listening to your team members’ and senior managers’ points of view will help shape and/or confirm the qualities and skills you are looking to add to your institution. Learning the ins and outs of your lines of business not only provides a more refined search as you look for your next candidates, but will also build the trust between you and your team that is essential for growth.

PINPOINT THOSE WHO CONTINUALLY RAISE THE BAR
Senior-level candidates will always present a robust resume that boasts several successful project completions and plenty of management background experience; however, the asset that makes a candidate truly stand out is his ability to raise the bar for your bank. Review the following questions when considering a new leader in your organization, regardless of level.

Does the candidate have a vision for his or her department and the bank? Will he or she represent your company’s values well? Does he or she communicate well? Is the candidate a leader? These intangible skills are critically important when evaluating prospective executives, because they will be directly responsible for entire departments Ð meaning they will play a pivotal role in shaping your company’s future. If the answer to any of the above questions is no, you should remove the candidate from consideration.

CONFIRM DECISIONS WITH DATA
Financial institutions run on numbers and data. The hiring process is no different. Be familiar with the talent demand of your market Ð with specific consideration toward what is motivating candidates to move to or from your bank. Have a complex understanding of market conditions and trends, and make that part of the interview discussion, because in today’s competitive financial marketplace, you need your leaders to be industry experts.

Knowledge and understanding of data provides insight into where your potential growth opportunities are. Effective department leaders transform information and data into strategies that put your bank in the position to achieve targeted objectives.

CONTINUING THE RELATIONSHIP AFTER HIRE
Relationships do not end after an offer is signed. Before your new team member’s start date, personally keep in contact with him or her. This will help lay the foundation of your working relationship as your new team member learns what it means to represent your institution. Maintaining communication throughout the hiring process shows you are not merely looking to match a face with a job title, but you are building a relationship of trust and open dialogue Ð two essential qualities for a strong leadership team.

Mark Abernathy is president of Community & Southern Bank in Atlanta. For more information, visit www.mycsbonline.com.

Read the full article at http://omagdigital.com/article/RECRUITING+QUALITY+LEADERSHIP+BREEDS+SUCCESS/1837508/229317/article.html.

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