Pub. 9 2019-2020 Issue 1

4 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S Chairman’s Message B anks consistently work to ad- dress challenges in recruiting and retaining women and mi- norities by broadening recruitment efforts, establishing relationships with student groups and professional orga- nizations, and providing training on unconscious bias. We do so because we know that, not only is diversity vital to a bank’s business, but that banks are only as strong as the communities they serve. And, we know that the most successful banks – and businesses – reflect their communities. Many banks have instituted com- prehensive programs to cultivate a diverse and inclusive environment for both employees and customers, as well as develop initiatives focused on recruiting and retaining diverse talent. A number of them also work to ensure the goods and services they purchase come from a wide range of suppliers. To build a strong pipeline, companies should nurture relationships with di- verse individuals throughout all levels of their careers and require a diverse slate of candidates for every opening, experts say. Banks are responding in-kind, by increasing opportunities to build digital skills, growing the ranks of women and minorities in positions of power. Today, 30 percent of management-level positions in banking are held by wom- en and statistics show that banking is becoming the career of choice for more women than ever. And, research shows that themore inclu- sivity anorganizationachieves, the better its financial outcomes. The International Monetary Fund in 2018 reported that bankswithhigher shares ofwomenboard members had higher capital buffers, a lower proportion of nonperforming loans and greater resistance to stress. The Peterson Institute for International Economics has reported that companies with women representing 30 percent of leadership earn 6 percent higher profits than those without female leadership. With that in mind, women will have an opportunity to share some of their ideas and successes in early August, by attending CBA’s second annual Women in Banking Conference, to be held in Beaver Creek. This daylong conference is a chance to gather information from fellow successful women bankers as well as to glean tips on how to grow in your career. I encourage you to register www.coloradobankers.org and take advantage of this top-notch program, as well as to share it with others whowould benefit from attendance. n BY JOANNE SHERWOOD, 2019-20 CBA CHAIRMAN PRESIDENT AND CEO, CITYWIDE BANKS