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New Jersey Bankers Association
NJBankers President and CEO John McWeeney, Jr. Participates in the Annual Financial Services Industry Summit

NJBankers President and CEO John McWeeney, Jr. participated in the Annual Financial Services Industry Summit held at Middlesex County College.  The summit, hosted by the Financial Services Talent Network, is an annual conference for financial services employers and educators who seek to create skills development partnerships that meet employers’ needs and help New Jersey residents find sustainable careers. The theme for this year’s summit was, ‘Our Financial Future: How is the industry changing?’

Attending the Annual Financial Services Industry Summit were (left to right):  Vann Holland, Director, Financial Services Talent Network; John McWeeney, Jr., NJBankers President and CEO; DOBI Commissioner Richard Badolato; and John Harmon, Sr., President & CEO, African American Chamber of Commerce of New Jersey.

 
How to help Hurricane Harvey Victims

We've had a number of inquiries about the horrible events in Texas as a result of Hurricane Harvey. We join with our friends and colleagues at the Texas Bankers Association, the Independent Bankers Association of Texas, the ICBA and the ABA in encouraging bankers who want to help to make a donation to the relief fund at www.texasbankers.com/harvey to donate by credit card or check. TBA is absorbing all costs so 100% of proceeds will go to relief efforts.

 
NJBankers in the News

NJBankers Quoted in "Mobile Banking and Cashless Transactions are the Future" article
Technology is Changing THE way money is exchanged, and the banking industry is adapting to this fast-growing trend. Banks are investing in new online banking solutions that offer improved user interfaces, easier access to information and richer features and functionality.

McWeeney and Hanrahan Quoted in American Banker Article "A state-Owned Bank in New Jersey"
Phil Murphy, a Democrat running to become the state's governor, doesn't have history on his side as numerous other efforts to create state-owned banks have failed.

 *click on headline for details

 
James DiOrio Joins BCG

Bankers Cooperative Group, Inc. (BCG) is pleased to announce the addition of James J. DiOrio to staff.  Jim has extensive consulting experience in the area of employee benefits, human resources and insurance.  In his role as Senior Consultant he will be primarily responsible for providing high level support in identifying and developing marketing strategies to grow and maintain persistency of BCG’s book of business.  Additionally, he will serve as a technical specialist in reviewing, recommending and assisting with implementation of internal policies, procedures and systems which will help BCG maintain existing clients and attract new ones

 
Industry News

FASB Provides Targeted Simplifications for Hedge Accounting
The Financial Accounting Standards Board has announced updated accounting standards to help simplify certain components in current hedge accounting guidance. The update now includes hedging relationships for non-financial risks and adds the SIFMA Municipal Swap Rate as an identified interest rate risk index.

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector picked up, according to firms responding to the Federal Reserve Bank of New York’s August 2017 Business Leaders Survey. The survey’s headline business activity index climbed twelve points to 11.7, its highest level in more than a year. The business climate index remained negative at -6.1, signaling that respondents on balance continued to regard the business climate as worse than normal, though this view was somewhat less widely shared than in July.

Media Feed
Click here to find the recent articles which highlight the banking industry.


*click on headline for details

 
 






LEADERSHIP ACADEMY:

FinPro's Annual Conference
Thursday, November 2, 2017

Director Training Web Seminar Packages

Annual Human Resources Conference
Thursday – Friday, October 12-13

Enterprise Risk Management Conference
Wednesday, October 25

Bank Secrecy Act 101 Seminar
Thursday, October 26

Bank Secrecy Act Advanced Seminar
Friday, October 27

CFO Conference with FMS
Tuesday, November 14

BankHorizons
Thursday-Friday, December 7-8


See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
 
Member News

Atlantic Stewardship Bank Donates Over $508K to Support Community
Atlantic Stewardship Bank (ASB) recently made the announcement that, over the 12 twelve months, it has donated over $508,000 in charitable contributions to more than 250 recipients. Through the Bank’s unique Tithing Program, ASB is privileged to be the only US bank that tithes or gives back 10 percent of its taxable income with nonprofit, educational, charitable, and/or evangelical religious recipients each year.

Stewardship Financial Corporation and Atlantic Stewardship Bank Announce the Appointment of a New Director
Atlantic Stewardship Bank appointed Kim V. Vierheilig to their Board of Directors, which governs both the Corporation and the Bank.


Berkshire Bank Joins IMPACT 2030
Berkshire Bank and IMPACT 2030 announced that Berkshire has joined as a collaborating partner. IMPACT 2030 is a private sector led initiative in collaboration with the United Nations and other stakeholders to leverage human capital investments through employee volunteer programs to contribute to the achievement of the Sustainable Development Goals (SDGs). Berkshire Bank joins Google, UPS, IBM, Southwest Airlines, Johnson & Johnson amongst others and is one of the only small-medium sized US based enterprises currently represented in the collaborative.

Steve Fusco Elected Vice Chairman of FMS Board of Directors
Steve Fusco, Senior Executive Vice President and Chief Financial Officer of Sussex Bank in Rockaway, NJ was elected Vice Chairman of the Financial Managers Society’s (FMS) board of directors at The 2017 FMS Forum, which took place in June in Las Vegas, NV. An active member of FMS for over 15 years, Fusco has been an integral part of FMS’s leadership. A member of the board of directors since 2014, Fusco has also served various officer roles including President of the FMS New York / New Jersey Chapter from 2008 to 2012 and an active member since the early 1990’s.


*click on headline for details

 
Endorsed Service Provider News

CRA Partners presents CRA Credit That’s Worth a Lot More
Complimentary Webinar
September 19, 2017
9:00-9:30 a.m. ET

Join this webinar to discover how your bank can receive guaranteed CRA credit on both the lending and investment test, along with service credit consideration – all through a unique, turnkey program that works in your community.

CRA Partners knows how difficult it has become to find meaningful CRA credit opportunities. That’s why they developed a low-risk, profitable solution for banks that’s worth a lot more than just checking a box.

The best part is, they do all the heavy lifting so you don’t have to. Their team provides your bank with permanent support and detailed low- to moderate-income documentation for your exam to ensure full credit is received. The only thing for you to do is enjoy the positive publicity you receive for helping your community.

So register today for this presentation and see how they can partner with you to work in your community. Meaningful CRA credit might be closer than you think.

Webinar Questions? Call 901.529.4765

Confirmation.com Webinar
Sept. 20 at 10:00 EST
(Register Early - Space is Limited)

Banks receive thousands of audit confirmation letters requesting confirmation of their clients' balances and arrangements. The traditional process is slow, costly, inefficient, and exposed to potential fraud. Find out how your bank can quickly respond to audit confirmation requests.

FinPro's Annual Conference
Thursday, November 2, 2017
Fiddlers Elbow Country Club, Bedminster, NJ

This conference qualifies for credits towards the NJBankers Directors Certification Training Certificate. The conference will focus on current and upcoming issues and opportunities for community banks providing advice and solutions geared towards enhancing value for all attendees. As the information provided during this conference will give attendees an edge in 2017, the materials and content from this conference will only be available to attendees.

For registration or questions contact:
Email finpro@finpro.us
Phone: 908-234-9398

*click on headline for details

 
Associate Member News

Bankers Toolbox Launches Due Diligence Manager to Address Beneficial Ownership Rules
Banker’s Toolbox, Inc., the leader in Bank Secrecy Act anti-money laundering compliance solutions for financial institutions, announced the launch of its Due Diligence Manager solution for Beneficial Ownership. This extension of the existing BAM+ platform delivers exciting and holistic features including a completely flexible question builder and automated periodic risk reviews to remain watchful in the pursuit of accuracy and vigilance against criminal behavior.

Bankers Toolbox Present Free Webinar- Creating a Plan for BSA Compliance in Acquisitions
Thursday, September 14th – 1:00-2:00 PM CT
1.25 CRCM, CAFP, and CFSSP Credits

Mergers and acquisitions happen frequently in today’s banking industry. No matter what side of the transaction you are on, it is crucial to identify ALL BSA/AML risks in order for your compliance program to remain successful. In this webinar, we will help you understand the five most critical BSA issues during an acquisition, offer best practice advice for quantifying the target’s BSA risk, and identify the four critical steps to creating a plan for merging BSA programs.

CFT Presents 2017 Fall Commercial Lending School
The Commercial Lending School curriculum is used by banking schools across the United States.  It delivers in-depth training in all facets of commercial lending, with an emphasis on financial analysis, cash flow versus profit, and loan structure.  Cases emphasizing small and medium-sized companies are featured.  The instruction will be led by a team of senior bankers and consultants.  Case studies are used extensively, and active participation by the students is essential.  The work will require study, documentation, analysis and decision making, often in small teams that will interact intensively with the instructors, both during the day and in the evening.

Bristol County Savings Bank Partners with COCC for State-of-the-Art Capabilities
Bristol County Savings Bank, based in Taunton, MA, is the newest community bank to partner with COCC for core technology services.

The FHLBNY Declares a 5.50% Dividend for the Second Quarter of 2017
José R. González announced that, on August 17, 2017, their Board of Directors approved a dividend for the second quarter of 2017 of 5.50% (annualized). The dollar amount of the dividend will be approximately $85.4 million. The cash dividend was distributed to member financial institutions on August 18, 2017. FHLBNY franchise performed very well in the second quarter, with strong results driven by record levels of advances. FHLBNY filed their Form 10-Q for the second quarter of 2017 with the U.S. Securities and Exchange Commission on August 9, 2017.

FIS Risk and Compliance is now a part of Capco
Capco, a leading management and technology consultancy focused exclusively on the financial services industry, has announced the completion of a transaction that establishes the company as an independent enterprise. The former FIS Risk and Compliance consulting business is now a part of Capco.

Meeker Sharkey Presents Healthy Advantage Workshop: Self-Funded Plans
September 28, 2017
APA Hotel Woodbridge

Self-funding can be an effective method of taking control of healthcare costs for organizations of all sizes.  It is a long-term financial commitment, which requires a sound understanding of both the advantages and potential disadvantages.  However, during this compliance driven healthcare environment, more employers are looking at self-insurance as an alternate funding mechanism.  Come join us in September and see if self-funding is a good fit for you.

*click on headline for details

 
Annual Senior Management Conference

Wednesday – Friday September 13-15, 2017
Borgata Hotel & Casino, Atlantic City, NJ

Get ready to experience our keynote speaker Morris Morrison on Wednesday September 13th to hear about the journey of one of America's most in-demand professional speakers that took him from the bright lights of New York City, to a hospital parking lot where a doctor’s words changed his life forever after he was orphaned for a second time.

Read More

 
Upcoming NJBankers Conferences - Don't Miss Out on Opportunities for Professional Development!

Basic and Advanced IRA
Wednesday & Thursday, October 4-5, 2017
NJBankers Office, Cranford, NJ
Anyone can stand at a lectern and spout rules and regulations.  The challenge is to make sure people understand what the rules mean and how to apply them in everyday situations.  These workshops are an exceptional, hands-on workshop that will provide critical information on IRAs and tax-favored savings plans in terms you can readily understand

2017 Delaware Trust Conference Offers Discount
Tuesday & Wednesday October 24-25, 2017
Delaware Bankers Association and the Delaware Financial Education Alliance Present the 11th Annual Delaware Trust Conference. NJBankers is once again proud to promote and support the Delaware Bankers Trust Conference.  NJBankers members will be granted the Delaware Bankers membership pricing as a courtesy

 
ABA Foundation Invites Volunteers for 2017 'Get Smart About Credit' Day

The American Bankers Association Foundation is calling for banker volunteers for its 15th annual Get Smart About Credit campaign, an initiative designed to teach teens how to use credit effectively. Bankers will celebrate Get Smart About Credit Day on Oct. 19 and throughout the month by visiting classrooms across the country to present lessons on financial obstacles facing young adults, including paying for college, building good credit habits, managing money and protecting their identity.Last year, nearly 5,000 bankers delivered these lessons to more than 164,000 teens as a part of the program. Read More

 
Individuals Seek Employment

Managing Director - Well-rounded executive with NYC financial services, small business, consulting and general management experience who delivers outstanding quality, innovation, and results seeks opportunity to share skill set with the right NJ organization. Nearly 25 years of management experience across several disciplines including strategic planning, online banking, product management, marketing and project management, and a history of getting things done. Proven know-how to connect the dots from strategic ideas and business objectives to tactical operations for new ideas, products, processes, customer satisfaction, and profitability in complex multi-stakeholder environments.

CFO/COO/CAO  Leading Organizations to Unlock Their Potential – Results oriented financial services executive with strong operational, financial, strategic, risk/balance sheet, technology and regulatory experience leading change programs that improved performance and resource utilization. Demonstrated track record of delivering solid business results.  Highly process oriented with superb communication skills. Proven leader in managing challenging environments and processes while building productive and close relationships across functions and regions in a matrix environment.

Please contact Erin Suckiel (908-272-8500, ext. 629; esuckiel@njbankers.com) for a copy of the resume.

 

Please note: The next Connections issue will be published on September 20th.

 

        

 
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