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Sageworks Blog


Apple Pay set to launch in October: What will this mean for banks and credit unions?

Last week, technology giant Apple® announced the launch of its mobile wallet, Apple Pay. Slated to debut in October as a feature on the iPhone 6, Apple Pay will offer contactless payment technology, providing iPhone users the ability to pay for purchases with their smartphones. [More]


2014 trends in compliance risk management for banks

Because of new regulations in the banking industry, compliance risk management is becoming increasingly important for bank management. The Accenture 2014 Compliance Risk Study confirms this theory and identifies five, key trends that have accordingly surfaced in banking. [More]


Is your ALLL prepared for the future?

Given all the attention the allowance for loan and lease losses (ALLL) is receiving from regulators and FASB, it is important to understand how banks and credit unions will be impacted in the short, mid and long-term by regulatory changes. It is also critical for bankers to understand what they can do now to prepare for these challenges. Join Sageworks and Crowe Horwath on Friday, September 12th for a webinar that will address the future of the ALLL. [More]


An accounting firm's checklist for attracting and keeping talented team members

Finding and retaining qualified staff is a top concern among accounting firms, according to the AICPA. Establishing a plan to recruit and develop staff in your firm will help you attract and keep top-notch employees. This checklist provides 4 steps you can take to win and retain talented team members. [More]


How to present stress test results to the bank Board: Part II

Yesterday’s article examined the importance of presenting actionable stress test results to the Board, as well as how to structure the Executive Summary of a stress test analysis. This article focuses on the remainder of the presentation, beginning with a section on local and national conditions.

After the Executive Summary, the next section should include more detail (one or two-page description) of local and national conditions. This summary would be heavy on bullet points and graphs to emphasize loan-portfolio risks as well large product concentrations. [More]


How to present stress test results to the bank Board: Part I

Stress testing analysis is an important risk management tool but only worth the Board’s time if the report empowers directors to assess current and potential risks within the loan portfolio.

Because a bank Board meets periodically, sometimes only quarterly, and may only have a few minutes to review stress testing results each year, it is important for senior management to put together a report describing risks but also putting those risks into context with the bank’s current risk appetite and the overall economy. [More]


Lending, net income soar to new heights, so why not profitability?

The American Bankers Association released a statement on the FDIC’s second quarter bank earnings report last week, and results were very promising for the health of the economy. Bank lending hit a new milestone of $8 trillion, and net income soared to near-record highs; however, profitability continues to lag for the banking industry. [More]


Why seat-of-the-pants marketing is bad for accounting firms

Accountants would not handle finances or hiring by the seat of their pants, and they should not take that approach with marketing, either, says marketing expert Bonnie Buol Ruszczyk. Developing and implementing a marketing plan for your accounting firm provides control and the ability to measure effectiveness.



What are the best cities for accounting pros?

Are you considering expanding your firm to a new location, or perhaps looking at recruiting outside of your immediate geographic location? Maybe an accountant looking to change jobs? Accounting Today recently highlighted 10 cities that are growing for CPAs and accountants, according to a list from Accounting Principals, a nationwide financial staffing company. Each year, the company touts the best cities for accounting and financial professionals. [More]


How are banks performing ALLL model validations?

To help bank and credit union executives better understand the supervisory guidance on ALLL model validation, Sageworks and Crowe Horwath partnered to deliver a webinar in July. The session, which addressed the three main components of ALLL model validation, was led by Sageworks’ Ed Bayer, and Crowe Horwath’s Mike Budinger and Ryan Michalik. During the webinar, over 500 bankers were polled about their model validation practices. The first question asked attendees when they last completed an ALLL model validation. [More]