moderator jennifer letourneau vice president wintrust treasury management n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Aligning Banking Services with Your Organizational Needs PowerPoint Presentation
Download Presentation
Aligning Banking Services with Your Organizational Needs

Loading in 2 Seconds...

play fullscreen
1 / 17

Aligning Banking Services with Your Organizational Needs - PowerPoint PPT Presentation


  • 113 Views
  • Uploaded on

Moderator Jennifer LeTourneau Vice President, Wintrust Treasury Management. Aligning Banking Services with Your Organizational Needs. Panelists Brian Koehler Accountant, Village of Lombard Scott L. Hirsch, CPA-PFS, CFA, CFP®, CFO, The Benida Group LLC Aimee Briles

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Aligning Banking Services with Your Organizational Needs' - fahim


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
moderator jennifer letourneau vice president wintrust treasury management
Moderator

Jennifer LeTourneau

Vice President,

Wintrust Treasury Management

Aligning Banking Services with Your Organizational Needs

Panelists

Brian Koehler

Accountant, Village of Lombard

Scott L. Hirsch, CPA-PFS, CFA, CFP®,

CFO, The Benida Group LLC

Aimee Briles

Vice President, Wintrust Government Funds

optimal bank relationship
Optimal Bank Relationship
  • Communication
    • Regular and effective
    • Open and honest
  • Commitment
    • Will work through unique situations
    • Understands your industry/business
    • Fully engaged
  • Collaboration
    • Mutually beneficial
    • Profitable and productive
dysfunctional relationships
Dysfunctional Relationships
  • Customer Service Woes
    • No explanations on how/why things work
    • No one takes ownership of issues
    • No urgency to find solutions or complete tasks
    • Endless myriad of voicemail boxes
  • Communication issues
    • Withholding information
    • Blindsiding
obstacles to ideal relationship
Obstacles to Ideal Relationship

Bank

Client

Turnover

Inexperienced and change –averse staff

Non-responsive contacts

Reactive communication

Siloed product groups

Lack of resources

  • Turnover
  • Poorly trained Treasury Reps
  • Slow problem resolution
  • Siloed product groups
  • Lack of resources
  • Introspective
best practices keeping the relationship strong
Best Practices - Keeping the Relationship Strong

Bank

Client

Timely reconcilement

Monitor accounts daily

Utilize dual control

Maintain IT protection

Restrict access

Dedicated PC

Talk regularly

Be open

Don’t procrastinate

Trust your gut

  • Deliver on commitments
  • Do homework
  • Understand business
  • Regular relationship review
  • Offer proactive solutions
  • Follow up
  • Respond quickly
  • Be available
  • Communicate, communicate, communicate
panel feedback
Panel Feedback
  • What are the important components of a banking relationship?
    • What are you looking for in a relationship management team?
    • Product offerings and delivery?
    • Customization of relationship/services?
why seek formal proposals
Why Seek Formal Proposals?
  • Evaluates current banking relationship
  • Provides information on new banking/TM services/technology
  • Improve efficiencies
  • Potentially lower costs through competitive bidding and/or negotiation
  • Mediates political situations (internal and external)
proposal preparation considerations
Proposal Preparation & Considerations
  • Are you actually willing to change providers?
  • Understand your current contract, services, fees and relationship
  • Determine minimum qualifications for proposers & list of banks to be included
  • Determine team members to be involved
panel feedback1
Panel Feedback
  • Why explore other banks?
    • What were your goals?
    • Board/Senior Mgmt. driven?
  • Contract expiring/fee increase?
  • Are you open to actually changing banks?
panel feedback2
Panel Feedback
  • How do you decide what banks to include in the proposal process?
    • Location convenience
    • Board/senior management driven
    • Bankers you know/have worked with
    • Product/service differentiation
    • Who internally should be included in the putting together and evaluating the proposals?
proposal preparation tips help bidders and yourself
Proposal Preparation Tips – Help Bidders and Yourself
  • Be specific about your needs and “wants”
  • Allow for question submission & pre-bidder conference
  • Provide a copy of Investment Policy & Collateral requirements if applicable
  • Provide electronic form of RFP and attachments (include any required agreements)
  • Goal is “apples to apples” comparison – maybe even provide current analysis statement
evaluating us evaluating you
Evaluating Us; Evaluating You

Banks look at:

Companies should look at:

Is the bank financially strong?

Tenure of management team

Work history of RM

Support staff depth, breadth and credentials

Convenience & service capabilities

References from like entities using similar services

  • Is the company financially strong?
  • Length/experience of management team & Board
  • Funding sources
  • Concentration of funding
  • “Back up” funds-Foundation/reserve accts.
  • Outside firms – CPA, Attorney, etc.
evaluation process
Evaluation Process
  • Ability to meet service requirements
  • Creative suggestions for enhancements
  • Industry experience of Bank & RM
  • References
  • Finalist Interviews
  • Bank location
  • Price guarantee
evaluation process price considerations
Evaluation Process – Price Considerations
  • Low Cost vs. Best Value
    • Lowest compensating balance, lowest fees, best interest or earnings credit rate, individual price points
    • Bundled services or menu based
    • Access and per item charges
    • Activity retention fees
    • Discounts for online initiated transactions
panel feedback3
Panel Feedback
  • What were deciding factors in the evaluation process?
  • Low cost vs. Best value - Would you allow for “pencil sharpening?”
  • Is there something you did not include that you should have?
multiple bank relationship
Multiple Bank Relationship?
  • Possible roles for multiple banks
    • Concentration Bank
    • Disbursement Bank
    • Investment Bank
    • Lockbox Collections
  • Some banks may meet certain product/service needs better
  • Multi-bank information reporting
  • Panel thoughts??