How to Manage Overdraft with a Fairness First Approach l Velocity Solutions 2024

The CU Lab with NAFCU Services

#Business #Credit Union #NAFCU Services

28:39

For centuries, members of the B’doul Bedouin tribe lived in the caves around the ancient city of Petra, Jordan. Then, in the 1980s, the government forced the tribe to move in the name of preserving the geological site for tourists. But if the residents are forced to leave, and if their heritage has been permanently changed, then what exactly is being preserved? SHOW NOTES: Meet The Man Living in The Lost City Carved in Stone Jordan: Petra's tourism authority cracks down on Bedouin cave dwellers The tribes paying the brutal price of conservation “There is no future for Umm Sayhoun” Jordan’s Young Bedouins Are Documenting Their Traditions on TikTok Check out Sami's company Jordan Inspiration Tours Learn about your ad choices: dovetail.prx.org/ad-choices…

大约1年之前 23:31

MP3•单集首页

Join Velocity Solutions expert Christopher Leonard for an informative session to explore: CFPB’s overdraft rule, what most credit unions will do in response, using alternative data to assess creditworthiness in providing overdraft limits and small-dollar, short-term loan amounts, components of a fair overdraft program, what other products and services credit unions should be offering as part of a complete consumer liquidity program, and if overdraft will ever go away.

100集单集

The CU Lab with NAFCU Services

How to Manage Overdraft with a Fairness First Approach l Velocity Solutions 2024

The CU Lab with NAFCU Services

published 大约1年之前

MP3•单集首页

100集单集

#Business #Credit Union #NAFCU Services

所有剧集

1
Meeting & Exceeding Member Expectations with Open Banking l FIS 2024 15:52

42 weeks之前15:52

15:52

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and today I am sitting down with Parijat Sinha, Head of Ecosystem Products at FIS, to talk about Meeting & Exceeding Member Expectations with Open Banking. Join FIS expert Parijat Sinha for an informative session to explore: what is driving Open Banking in the credit union market, what the open banking world looks like, how permissioned data and open banking can create opportunity, concerns about the reliability of APIs and the security risks of sharing data with third-party applications, how credit unions can successfully embrace open banking while retaining a focus on their data security requirements, best practices for open banking ecosystem governance, how the regulatory environment needs to change to ensure open banking is successfully adopted throughout the credit union market, how the industry and government can collaborate to deliver an open ecosystem where consumers have greater control over their financial planning, and how FIS is seeing credit unions incorporate open banking in their strategy.…

1
2024 Mid-Year Fraud Review l Allied Solutions 2024 15:24

42 weeks之前15:24

15:24

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and today, I am sitting down with Zach Douglass, Director of Bond & Risk Management at Allied Solutions, to review fraudulent activities in 2024. Join Allied Solutions expert Zach Douglass for an informative session to explore: the types of fraud activity they have been seeing most, how to make detecting account takeover attacks easier, if counterfeit US passport cards are a new type of fraud to watch out for, how fraudsters are using corporate and paper checks, what financial institutions should be on the lookout for when it comes to phishing schemes and how they should be educating their members, recent litigation trends for financial institutions to be aware of, and the types of fraud activities credit unions need to pay the most attention to in the back half of 2024.…

1
The Evolving Role of the CISO: From Technical Expert to Strategic Leader l DefenseStorm 2024 21:09

42 weeks之前21:09

21:09

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and today I am sitting down with William Wetherill, Chief Information Security Officer at DefenseStorm, to talk about The Evolving Role of the CISO: From Technical Expert to Strategic Leader. William, it’s great speaking with you, and thanks so much for joining us today. Join DefenseStorm expert William Wetherill for an informative session to explore: how the role of CISO changed from being a technical role to a more strategic one, the key responsibilities of a CISO in managing an organization’s cyber and technology risk posture, the importance of having a CISO at the decision-making table, how the SolarWinds case highlights the need for transparency in cybersecurity practices, potential legal and financial consequences of failing to prioritize cybersecurity, how CISOs can effectively protect their organization by expanding their strategic roles, the importance of training and awareness in maintaining cybersecurity, the role of the CISO in incident response planning, how the CISO can stay updated on the latest cybersecurity trends, threats, and mitigation strategies, the role of a CISO in ensuring regulatory compliance, and more. In This Episode: [00:31] Today I am sitting down with William Wetherill, Chief Information Security Officer at DefenseStorm, to talk about The Evolving Role of the CISO: From Technical Expert to Strategic Leader. [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. It really comes down to culture, communication, and being able to help drive that leadership and strategy in a way that ensures the protection of the organization. [02:58] Having the CISO with their knowledge of the potential impacts really helps drive a strategy that is understanding of those risks. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [08:09] The ramifications and outcomes can be huge in a lot of different ways. [11:19] Because of this awareness training and just training in general about cybersecurity becomes even more important. [12:14] Treating people with the respect they deserve for being such an integral part of how a business runs and operates is incredibly important and every CISO should be out learning and understanding their challenges. [14:28] It is critical that any CISO actually goes and meets the people where they are. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. [19:08] Communicate first and relate. Understand the organization. Links and Resources: NAFCU DefenseStorm William on LinkedIn…

1
Gallagher Executive Compensation and Benefits Survey l Gallagher 2024 19:10

44 weeks之前19:10

19:10

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld, with America’s Credit Unions and I’ll be your moderator. Today I am sitting down with Liz Santos, Chief of Staff at Gallagher, and we are going to talk about the annual Gallagher Executive Compensation and Benefits Survey. It’s one of the credit union industry’s premier resources for compensation data. The report provides hundreds of data points for salary, scorecards, retention plans, and more, enabling credit unions to make better decisions for their rewards strategy. We talk about who participated in the survey, the positions included in the survey, key trends that stood out in this year’s survey that are noteworthy, and how credit unions can access the report and use the data. In This Episode: [00:32] Today, I am sitting down with Liz Santos, Chief of Staff at Gallagher, and we are going to talk about the annual Gallagher Executive Compensation and Benefits Survey. [01:11] They sent invitations to all credit unions across the country to participate in the survey, so that included federal charters, state charters, and those credit unions that are privately insured. More than 700 credit unions participated and provided information for about 2500 of their executives. [02:03] Traditionally, the report has included the CEO as well as the next four executives in terms of salary. This year, they also added CFO-specific information. [04:01] Over ten years, the annual raise percentage has more than doubled. In 2015, the average increase was 3%, and today it is 7%. When executive's salaries are strong and increasing that is a good reflection on the industry as a whole. [05:53] Another trend that I think credit unions should consider is annual incentives. 70% of CEOs have some sort of annual bonus or incentive. [06:52] Previously, the type of plan was split, but now we are starting to see more plans lean toward the formal type. This year 38% of those plans were formal as opposed to 32% informal. That is a reflection of boards wanting to pay for performance by setting strategic goals and by pushing and incentivizing their CEOs and the rest of the C-suite to achieve those. [07:41] Another trend is the use of nonqualified benefit plans. Nonqualified benefit plans or executive benefit plans are used to retain and reward your executives, top leaders, and other top performers. With credit unions that are 100 million in assets and greater, 75% of all executives have some sort of plan. [09:22] 23% of other leaders or managers were also receiving some sort of nonqualified benefit plan. It is showing that there is a greater need and desire to retain these up and comers and build their leadership pipeline. [11:05] Close to a third of CEOs are aged 60 years and older. About half of all CEOs are aged 55 and older. You have a great number of CEOs who are considering retirement if not already there. It pushes that time for succession planning. [13:27] About 40% of CEOs have been in their role for five years or less. [14:15] The primary objective of resources like this is to educate the decision-makers on the state of executive compensation so they have up-to-date information on what is happening in the market. [16:52] Work with a compensation consultant to make the data more actionable. The data behind the data is where you can find the actionable tasks and make sure they are aligned with your strategic goals and where you want to be. Links and Resources: NAFCU Gallagher Liz on LinkedIn Succession Planning…

1
Democratizing AI: Powerful Regulatory Compliance for Every Financial Institution l Wolters Kluwer 2024 18:01

44 weeks之前18:01

18:01

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today, I am sitting down with Aoife May, Market Manager of Compliance Program Management for Wolters Kluwer, who is a trusted leader in compliance management. Today we’re going to talk about Democratizing AI: Powerful Regulatory Compliance for Every Financial Institution. Join Wolters Kluwer expert Aoife May for an informative session to explore: the aspects of today’s regulatory environment that are driving digital and AI adoption, expectations from regulators, and the increasing burdens put on compliance departments, what a credit union wants to understand when it comes to AI and regulatory compliance, expert augmented intelligence model, and if these offerings are feasible for any size credit union.…

1
Artificial Intelligence vs. Emotional Intelligence l TruStage 2024 28:40

45 weeks之前28:40

28:40

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today I am sitting down with Karan Kashyap, Chief Executive Officer of Posh AI, and Sam Das, Managing Director of TruStage Ventures, and today we are going to talk about Artificial Intelligence vs Emotional Intelligence. Join TruStage Ventures experts Karan Kashyap and Sam Das for an informative session to explore: why both emotional intelligence and artificial intelligence are important for credit unions, some innovative ways credit unions are currently using AI to enhance member services, how credit unions can approach educating their board members and staff about the benefits and challenges of AI, how credit unions can build trust with their members when introducing new AI-driven tools and services, how AI can be designed to support empathetic interactions without replacing people, the potential risks associated with AI in the credit union industry and how to mitigate these risks, and the balance between leveraging AI for efficiency and maintaining the human touch that is so essential in the credit union industry.…

1
Manufactured Housing for Home Buyers l Triad 2024 11:47

46 weeks之前11:47

11:47

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today I am sitting down with Keith Stayer, Executive Vice President at Triad Financial Services – a specialty finance company serving the manufactured housing industry since 1959. Today, we are going to talk about Affordable Housing and Manufactured Homes. Join Triad Financial Services expert Keith Stayer for an informative session to explore: the history of Manufactured Homes, why buyers should consider Manufactured Homes versus traditional site-built homes, why Manufactured Housing is a solution for affordable housing, some of the builders of Manufactured Homes, who are the typical owners of Manufactured Homes and where are they located, loan characteristics and rates of Manufactured Homes, how credit unions can support Manufactured Housing, and how credit unions can learn more about Manufactured Housing.…

1
How Credit Unions Can Win in 2024 l Upstart 2024 26:26

46 weeks之前26:26

26:26

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today, I am sitting down with Barry Roach and Drew Megrey, Senior Account Managers at Upstart, and we’re going to discuss How Credit Unions Can Win in 2024. Barry Roach and Drew Megrey, Senior Account Managers at Upstart, join the CU Lab to share 'How Credit Unions Can Win in 2024.' They delve into the challenges facing credit unions today, from liquidity constraints to regulatory hurdles. Through their firsthand experience with Upstart, they explore how AI can revolutionize credit unions by maximizing liquidity, gaining and retaining membership, and ensuring fair lending practices. Discover success stories from current partners and gain insights into effective collaboration in the ever-evolving financial landscape. Plus, learn about Upstart's new AI certification programs, empowering industry professionals to lead the AI conversation at their credit unions.…

1
How to Manage Overdraft with a Fairness First Approach l Velocity Solutions 2024 23:31

46 weeks之前23:31

23:31

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today, I am sitting down with Christopher Leonard, Chief Executive Officer at Velocity Solutions, and we are going to talk about putting fairness first in your overdraft strategy. Join Velocity Solutions expert Christopher Leonard for an informative session to explore: CFPB’s overdraft rule, what most credit unions will do in response, using alternative data to assess creditworthiness in providing overdraft limits and small-dollar, short-term loan amounts, components of a fair overdraft program, what other products and services credit unions should be offering as part of a complete consumer liquidity program, and if overdraft will ever go away.…

1
Allied - Covering Your Assets: The Bottom Line on Tracing and Collateral Protection l Allied 2024 16:47

49 weeks之前16:47

16:47

Thank you for joining us for another episode of the CU Lab. I’m John Ross with America’s Credit Unions, and today I am sitting down with Scott Myers, 2nd VP of Operations at Allied Solutions, and Mike Batchelor, 2nd VP of Risk Management Product at Allied, to talk about Covering your assets, specifically tracking and collateral protection. Join Allied Solutions experts Scott Myers and Mike Batchelor for an informative session to explore: market trends, which trends Allied tracks causing the greatest implications to auto loan portfolios for credit unions, what credit unions are doing to protect their portfolios when it comes to repossession and recovery, how credit unions can adapt their collateral protection strategies to mitigate risks and keep members in their vehicles, how credit unions can strike a balance between ensuring compliance and delivering exceptional member experiences, and what credit unions should be on the lookout for when leveraging digital tools and technology to optimize their insurance tracking and collateral protection programs.…

1
Blind Spots in the Boardroom l DDJ Myers 2024 25:34

49 weeks之前25:34

25:34

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld, with America’s Credit Unions and I’ll be your moderator. Today I am sitting down with Deedee Myers, CEO of DDJ Myers, and Peter Myers, Senior Vice President at DDJ Myers, and we are going to talk about Blind Spots in the Boardroom. Join DDJ Myers experts Deedee Myers and Peter Myers for an informative session to explore: meaty topics happening in the boardroom today, why a board might not put some conversations in the foreground, blind spots for CEO succession and other areas, risk management, approaches of how boards are addressing succession planning and risk today versus historically, and other blinds spots boards and executives should be aware of over the next couple of years.…

1
Operational Agility: Key Factors for Success in 2024 and Beyond l SRM 2024 16:27

50 weeks之前16:27

16:27

Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld, with America’s Credit Unions and I’ll be your moderator. Today I am sitting down with Mark Mrva, Senior Director of Community Financial Institutions at SRM, and Mike Langenkamp, Director of Community Financial Institutions at SRM, and we are going to talk about operational agility and the key factors for success in 2024 and beyond. Join SRM experts Mark Mrva and Mike Langenkamp for an informative session to explore: SRM’s report that looks at critical operational areas that credit unions should examine, hidden expenses that some credit unions may not be aware of, related expenses and automating processes to offset costs, amount of lead time for renewing vendor contracts, some of the biggest challenges facing credit unions when it comes to evaluating their core investments, the pros, cons, and benefits of middleware, and considerations credit unions should take to control expenses this year and beyond.…

1
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs l Gallagher 2024 21:26

1 year之前21:26

21:26

Thank you for joining us for another episode of the CU Lab. I’m Randy Salser with America’s Credit Unions, and today I am sitting down with Liz Santos, Chief of Staff, Executive Benefits Practice at Gallagher, to talk about Mergers and Acquisitions, and unifying Two Different Executive Total Compensation and Benefits Programs. Join Gallagher expert Liz Santos for an informative session to explore: the typical situations that she is seeing when it comes to bringing two different compensation and benefits programs together, the first step in the unification process, how a retention plan should be evaluated, and when changes should be implemented in these programs.…

1
Ensuring Safety and Soundness with AI l Upstart 2024 18:59

1 year之前18:59

18:59

Thank you for joining us for another episode of the CU Lab. I’m Randy Salser with America’s Credit Unions, and I’ll be your moderator. Today I am sitting down with Lynn Sautter Beal, Vice President of Implementation and Success at Upstart. We are going to talk about ensuring safety and soundness with AI. Join Upstart expert Lynn Sautter Beal, Vice President of Implementation and Success for an informative session to explore why credit unions are applying AI to lending and how to empower credit unions to regulators and outside examiners through AI models during exams to ensure transparency and compliance. We also discuss challenges and key best practices for credit unions, and how credit unions can proactively prepare for upcoming developments in AI to stay ahead of the curve and maintain safety and soundness. In This Episode: [00:32] I am sitting down with Lynn Sautter Beal, Vice President of Implementation and Success at Upstart. We are going to talk about ensuring safety and soundness with AI. [01:32] She leads Upstart’s customer success implementation programs and professional services teams as well as their diligence teams. [03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast. [04:02] As you are a credit union thinking about partnering with a Fintech look for the expertise within that organization. [06:49] We have an Upstart diligence data room that is just a retro repository of everything that a credit union or potential partner would want to know about us. [08:25] Articulating that business use case and then how partnering with a Fintech like Upstart can support that is really the first step in having a successful conversation with your board. [10:30] If you are a champion of the program and you think this is the next type of right step for your credit union and you know there are objectors, talk to your account executive at your Fintech and have them help you overcome those objections. [12:02] Lynn shares a recent positive success story. [13:45] In addition to really knowing your business use case, plan for diligence. Don’t scrimp on due diligence. It will not support you long-term. [15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint. [15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly. [17:31] Making sure you are talking to your peers is really a great best practice. [17:41] Staying informed and connected will help keep you on the forefront of what is happening. Links and Resources: NAFCU Upstart Lynn on LinkedIn…

1
Navigating the Threat of Social Engineering and Misinformation l DefenseStorm 2024 24:23

1 year之前24:23