Board Reports from Hell and How to Find the Hallelujah Mountain Illinois Credit Union League Presented by Rory R. Rowland
Financial Snapshot Product or Service Usage Metrics Operations Development Sales Marketing Committee Reports Board Actions and Resolutions Strategic Discussions
Better Board Meetings Do We need to meet? Meeting Objectives - written Don’t try to do too much Set the agenda Establish time limits
Better Board Meetings Brief the executive committee before the meeting Keep the meeting on track Remember every board member has a role to play Close with next steps
Board task Planning and Evaluating Effectiveness Managing CEO Accountability Making and Evaluating Policies Member Service
Board Work Styles The Board of Directors and Efficiency Risk Taking Commitment to Duties Board Unity
Board Work Styles Feedback Style Tolerance and Constructive Participation Communication Styles
What's the Board's Role? To Oversee and Guide the Credit Union so That the Members Assets Are Safe and Productive As Possible.
Values, Mission, Plans, Goals, Policies Member Survey, Staff Survey Mystery Shops Fraud Hotline External Audit, Internal Audit, Regulatory Exam Monthly Reports, Dashboards, Other Reports, Competitive Analysis
Boards Role Varies with Asset Size Small credit union Medium-size credit union Large credit union
Board Meetings Occur Because Board Members Need to: Plan Together. Learn Together Contemplate Together Deliberate Together
What's the Purpose of the Board Meeting? Compared Plan Evaluate Progress toward Plan. Look to the Future for Strategic Issues
What's the Purpose of the Board Meeting? Purpose; Meet Purpose Priority: Most Important Things Pace: Keep It Quick Process: Evaluate and Improve the Process Pranks: Make It Fun
Purpose of Board Packet? ___________________________
What's the Purpose of the Board Packet? To Help Determine Operations Are Meeting Expectations. To Assist the Board in Determining the Future Direction of the CU
What's the Purpose of the Board Packet? To Update the Board's Knowledge of the Operations of the Credit Union. To Provide Insight into Trends That May Be Occurring. Provide Information to Assist in the Decision-Making Process.
Good Board Packet. Is the board's eyes into the soul of the credit union. Keeps board members informed and up-to-date. Board members see trends
The Perfect Board Packet: Some Ideas of Content. Agenda Consent Agenda Items. Financial Ratios and Trends-- Dashboard
The Perfect Board Packet: Some Ideas of Content. Comparison to Previous Periods. Comparison Plan. Comparison the Budget
The Perfect Board Packet Some Ideas Content. Strategic Planning Key Issues Discussed. FYI or CEOs / Chair's Corner Risk Areas Analysis
Consent Agenda Consent agenda only works if board members actually read the contents - Prior to the Meeting. Items That Are Routine and Don't Require Discussion
Financial Reports - Compared to Previous Period
Dealer Tactics Fierce Competition Survival What Dealers are doing! Keep your cool
Dashboard of Success
The Ratios
Dashboard of Success
Strategic Planning Update
Other Analysis. Remote Transactions Versus Branch Transactions. Products/Services per Member. Audit Work. Sam Resolution Update.
Other Analysis. Supervisory Committee Report. Branch Activity Trends. Branch Probability Analysis
Risk Analysis Indirect lending. Risk-based pricing. Commercial lending. Delinquency and charge-offs.
Mortgage lending
New Product/Services. The goal is to analyze new product or service acceptance by the members.
Delinquency and Charge-Offs Delinquency by Loan Type Delinquency by Branch. Delinquency by Loan Officer. Delinquency by Risk Based Score
Top 10 List What did we learn?
Top Ten:
Information Rory Rowland Covington Independence, MO www. RoryRowland.com ATT.net