6 Hoosier Banker June 2015 It has been over a year since I reported on the direction of the Indiana Bankers Association that resulted from our strategic planning process in late 2013. We are now just past the halfway point until we institute the process again for the next three-year period. It therefore seems appropriate to offer an update on progress made to date, and what remains to be accomplished. You may recall that we had five areas of focus: financial position, technology, products and services, leadership and association viability. Regarding financial position, we are focused on maintaining our strong financials and robust reserves. Due to efforts initiated years ago, we have built in growth that will position the IBA to be among the financially strongest associations in the country. As a result of the planning effort, we have created a five-year pro forma that factors in expected industry consolidation; reserve policy; and peer benchmarks, including staff size. We have also placed reserves with an investment manager, after having rewritten our investment policy, and have segregated the funds by company within the IBA family of companies. Those funds that are earned as a result of the efforts years ago ‒ primarily New Markets Tax Credit financing ‒ are accounted for separately, so that the IBA is measured on a traditional association operating basis. We continue to seek ways to further diversify our revenue streams. Expanding our use of technology, while supporting efforts for members to expand their use of technology, is also moving forward. We have drafted an IBA technology plan, which the board has approved. We have also increased our usage and focus of social media in an attempt to better connect with the next generation of bank and association leaders. This will likely be a never-ending effort. We have implemented and are fully utilizing a new database software management system and website. As with all software conversions, particularly when converting from a system that was over 30 years old, there were a few bumps in the road, but we are well past those now. We have also begun to build a library of training videos, as a result of videoconferencing some of our educational events. We will continually test this option as a long-term tool for our members. Additionally we are studying how we can help our member banks, particularly the smaller ones, with technology solutions that can be shared through strategic alliances and partnerships. In expanding our products and services to members, we conducted and tabulated a member needs assessment, which was adopted by the board of directors. It turned out to be a verification of what we thought those needs were, FEATURE President’s Ponderings S. Joe DeHaven, President & Chief Executive Officer, Indiana Bankers Association and we will continue to pursue solutions, particularly relating to the sharing of services by smaller banks. We have made some progress with compliance programs by expanding the Community Bankers for Compliance program of Young & Associates Inc. and by endorsing an automated system through Continuity. Additionally, we have expanded nationwide the property and casualty insurance company subsidiary pool concept that is of benefit to banks of $500 million or more in assets. We still have work left regarding the development of talent management and succession services for members. To proactively assist with the development of the next generation of bank leadership, we have added a Leadership Development Program to high acclaim, have increased membership in IBA’s Future Leadership Division and have inaugurated a “Bridging Bankers, Building Leaders” annual conference. These moves appear to be making a difference. We have much work left to do in examining whether to fund more Graduate School of Banking scholarships, and in determining next-generation priorities and work/life balance, plus the effect that has on IBA engagement. Reinventing the IBA for long-term association viability is more elusive than the other categories. While we continually explore new regional alliances to serve members and generate long-term, non-dues revenue opportunities, those alliances are hard to find. We also look toward the possibility of expanding membership to a broader financial services organization, under the assumption that consolidation will continue to decrease our membership, but again it is difficult to determine who to ally with, and when. Finally, the IBA board of directors continues to be involved in succession planning to enable a smooth transition of management within the next few years. I assure you that the board and staff are constantly evaluating our progress toward completion of the plan, which you helped formulate with your participation in surveys. We thank you your ongoing support. Follow Us onTwitter Follow the Indiana Bankers Association on Twitter @ IndianaBankers for late-breaking news about Association and advocacy issues. t
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