Free webinar offered on FDIC insurance regulations

FDICThe Iowa Bankers Association and Promontory Interfinancial Network are offering a free 45-minute webinar, designed for all levels of bank employees and executives to freshen up on Federal Deposit Insurance Corporation (FDIC) insurance regulations. There are two opportunities to attend the webinar: 10 a.m. on Feb. 28, and 2 p.m. on March 2. It will include a Q&A segment to address specific concerns. The webinar will be presented by Joe DiNuzzo, a former attorney with the FDIC and an expert in FDIC insurance regulations. A certificate of completion will be available for all attendees. The FDIC continues to examine bankers’ understanding of deposit insurance rules that apply to third-party agency accounts. Click the dates above to register or email contactus@promnetwork.com with questions.

A Culture of Service Excellence in Ten Minutes a Day

by Jeff Rendel, Certified Speaking Professional

Rendel

Jeff Rendel

Remarkable results in just ten minutes a day? That’s what the infomercial gurus tell us as they sell their wares for amazing abs, real estate investing, and dogs that won’t bark. In spite of their claims, there is plenty of power in short, focused efforts performed consistently. Your bank can build its commitment to service excellence in just ten minutes a day.

For three decades, The Ritz-Carlton Hotels have held the “Daily Line-Up;” a ten-minute department huddle to prepare for the day ahead. It’s a chance for every department – around the world – to discuss and focus on one of its dozen-plus service principles and standards of service. Team members share “wow” stories of how they provided a great experience to a guest or colleague and they focus on a standard to execute through the day (like “a warm greeting,” “a fond farewell,” or creating a “guest for life.” For the Ritz Carlton’s full list of Gold Standards, visit http://www.ritzcarlton.com/en/Corporate/GoldStandards/Default.htm.

The Daily Line-Up is simple to execute at your bank. Before opening (or before every shift), huddle up in a small group to discuss a single aspect of service. Ideally, the feature to discuss comes from an established list of service standards unique to your bank with the discussion tailored to practical methods and examples of excellent service. If your bank’s service standards are still in the works, incorporate some service principles discovered in articles on your state association’s website.

To increase participation in the Daily Line-Up, see that leading the discussion doesn’t fall on the manager or trainer. Mix it up and choose a different leader every day. Tellers, loan officers, branch managers, call center agents, the CEO, I.T. professionals, and many more can contribute to learning and teaching what’s most important for service. In distinct ways, every professional at your bank is a leader for all customers. Each can provide valuable insight to enrich customer service.

Keep the Daily Line-Up short – ten minutes is best, long enough to elaborate on content and short enough that it doesn’t feel like a meeting. What’s most important is that everyone is hearing the same message and taking the day’s element into their duties to keep your customer service culture alive. When it comes to customer service, the greatest challenge isn’t skills, details, and the nuts and bolts of working with customers. The challenge is focus and performance during the day-to-day schedule. The Daily Line-Up provides an opportunity to align varieties of activities with a specific value at your bank.

Try the Daily Line-Up model at your bank every day for just ten minutes. You’ll discover that short sessions create dramatic and sustainable enhancements that are easy to execute and add alignment and power to your bank’s culture of service excellence.

Jeff Rendel, Certified Speaking Professional, and President of Rising Above Enterprises works with banks that want entrepreneurial results in leadership, sales, and strategy.  Each year, he addresses and facilitates for more than 100 banks and their business partners.

Business Continuity and Disaster Recovery

Tornado Virtual Tabletop Exercise

disasterFEMA’s Emergency Management Institute Virtual Tabletop Exercise program will offer six sessions of a tornado scenario on March 7, 8, and 9 from 12-4 p.m. ET. Content is the same each day, and participants would attend only one session in February or March. The application deadlines for these exercises is Jan. 25.

The VTTX involves key personnel discussing simulated scenarios in an informal setting and can be used to assess plans, policies, training, and procedures. The design of the VTTX is for a group of ten or more representatives from state, local, tribal, and territorial emergency communities of practice and is intended to provide an opportunity for responders across the nation to simultaneously participate in a hazard-specific facilitated discussion. Participants will need to connect via a site equipped with the appropriate VTC capability (not Adobe Connect or FaceTime-based), but alternate ways to participate are also available upon request.

To participate, send an email to Doug Kahn at douglas.kahn@fema.dhs.gov or call 301-447-7645. Also, send a courtesy copy email to the Integrated Emergency Management Branch at fema-emi-iemb@fema.dhs.govor call 301-447-1381. Additional information is available at https://training.fema.gov/programs/emivttx.aspx.

CFPB Incentive Compensation Bulletin

moneyThe Consumer Financial Protection Bureau (CFPB) issued a bulletin (CFPB Compliance Bulletin 2016-03 on Nov. 28, 2016) outlining expectations for incentive compensation programs. The bulletin compiles guidance previously issued by the CFPB and highlights examples from the agency’s supervisory and enforcement experience. The CFPB said that properly managed incentive programs can benefit both companies and customers, and that the types of incentive programs used by banks vary widely, but cautioned that inadequate oversight or setting unrealistic goals could lead to consumer harm. To ensure consumer protection, the CFPB reiterated its expectation that banks using incentive programs have proper compliance management systems in place to monitor and quickly respond to any potential violations of consumer protection laws.

Mortgage Servicing Compliance Guide Updated

CFPBThe Consumer Financial Protection Bureau (CFPB) has published an updated version of its Small Entity Compliance Guide for Mortgage Servicing. The revised guide incorporates the changes to Reg. X and Reg. Z that were made as a result of the CFPB’s servicing final rule issued earlier this year.

Keep secure with a culture of security

sbsLearn more about how to improve security at your bank with Secure Banking Solution‘s tips for creating a culture of security. Their blog explores some tips about how to test staff, set up expectations, and how to promote positive actions. Click here to find out more.

NEW OnDemand Training – Just in Time for MLO Registration

moneyUnder the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), banks are required to ensure that their Mortgage Loan Originators (MLOs) are properly registered with the Nationwide Mortgage Licensing System and Registry (NMLSR). Each fall, every MLO is required to renew their registration between November 1st and December 31st. The SAFE Act requires all employees who are MLOs be informed of the registration requirements. In addition, Regulation Z requires all Loan Originators (LOs) including MLOs be properly trained to perform their jobs and to understand the prohibitions under the law. As you are working on registration renewals, are you confident that your LOs and MLOs have received the training required under the SAFE Act and Regulation Z? Worry no longer! The IBA has developed OnDemand training just for this purpose. This comprehensive webinar defines who is a Loan Originator, who is a Mortgage Loan Originator, MLO qualifications, prohibited activities, registration renewal requirements, LO compensation rules, and an overview of state and federal regulations. The cost of this training for IBA members is only $150.

To purchase this valuable training, click here or go to the Iowa Bankers Association website and visit the Compliance section. Select OnDemand Training and then click the link to register. As with all the IBA OnDemand training sessions, banks can reuse the training for annual, period or even new employee training at no additional cost.