Pub 12 2023 Issue 6

he Wichita Marriott Hotel was the location for the 2023 Economic Outlook & Risk Management Conference on November 8-9. With many CEOs, CFOs and investment bankers on hand, the program provided high-level and timely information for bank development and planning. KBA Chair-Elect Gene Dikeman, Bank of the Plains in Hutchinson, welcomed attendees, thanked conference sponsors and gave special recognitions before introducing the first keynote speaker, Sean Payant with Haberfeld. In his fast-paced and entertaining talk titled “Under Pressure: Cost of Funds Strategies in a Rising Rate Environment,” Payant shed light on the enduring significance of low-cost funding in the banking realm. He emphasized that even during periods of historically low interest rates, low-cost core deposits retained their value. As rates began to climb, the attention returned to the importance of low-cost funding. Payant's session provided practical strategies that can be implemented by teams today, irrespective of the financial climate. These strategies not only ensure success in the present but also pave the way for a secure future. “Navigating Economic Uncertainties,” presented by Dr. Chris Kuehl, posed the question, “Why, despite earlier predictions, has a recession remained elusive?” Delving into the factors at play, he examined whether inflation is truly under control, the intricacies of the supply chain and how the shortage of workers impacts remarkably low unemployment rates. Global trade and geopolitics also took center stage in Dr. Kuehl's analysis as he unraveled their implications. Perhaps most crucially, Dr. Kuehl shed light on how this intricate web of economic factors shapes the banking sector and the economy, particularly in the diverse state of Kansas. Following lunch, the conference had breakout sessions that included: Concurrent Session I • “Compliance Hot Topics” Dylan Serrault, Kansas Bankers Association • “Credit Reporting and Dashboarding to Solve Risk” Zach Langley, Abrigo • “Top 10 Cyber Threats and How to Mitigate Them” Brandon Gettert, Curated Cyber Concurrent Session II • “Compliance Hot Topics” Dylan Serrault, Kansas Bankers Association • “Fraud Risk Management Best Practices” John Meyer, Cornerstone Advisors • “Preparing for a Focus on Process and Efficiency” Brady Chianciola, PRI In the final session of the day, “Asset/ Liability Management in Today’s Environment,” Dale Sheller with The Baker Group explained that in early 2022, the Federal Funds Rate was close to zero, T Dr. Ed Seifried, a renowned expert, delivered the opening keynote on the conference’s final day. Based on his extensive market research, he asserted that we’ve hit peak rates after enduring the highest rate hikes in 22 years. His presentation decoded the economic complexities, offering strategic insights and prompting thoughtful reflection among attendees. 2023 Economic Outlook & Risk Management Conference KBA Chair-Elect Gene Dikeman of the Bank of the Plains in Hutchinson extended a warm welcome to all attendees, embracing the opportunity to kick off this year’s event with enthusiasm and appreciation. He acknowledged the invaluable support of our sponsors, whose commitment and generosity have played a pivotal role in making this event possible. 12