SDBA eNews

March 31, 2022

Podcast: Breaking Ground as a Community Bank Chief Diversity Officer

While many larger banks have created “chief diversity officer” roles over the past several years, that role has been more of a rarity at smaller banks. On the latest episode of the ABA Banking Journal Podcast—sponsored by IntraFi Network—Nicole Almeida, CFMP, talks about how her career has taken her from from retail stores to bank branches to bank marketing and, most recently, to a new role as chief diversity, equity and inclusion officer for BayCoast Bank.

Click here to listen.

ABA to Host Webinar on What Russia’s Invasion of Ukraine Means for U.S. Banks

ABA will host a second free webinar April 4 at 1 p.m. CDT for ABA bank members and state association staff on how Russia’s invasion of Ukraine affects banks and the financial sector. The webinar will feature ABA President and CEO Rob Nichols and K2 Integrity’s Juan Zarate and Danny Glaser. Attendees will hear the latest updates on Ukraine, the financial costs being imposed on Russia beyond sanctions, and the challenges U.S. banks should prepare for next. Register for the webinar. View ABA’s resources on the Russia/Ukraine conflict.

“It really needs dedication,” Almeida says, noting that the DEI goals of the $2.5 billion Massachusetts mutual bank required more than a cross-departmental committee but rather the focused attention of full-time bank professionals. Almeida discusses how her role as a community bank CDO facilitates DEI partnerships and initiatives both within and outside of the bank. She shares advice for individuals transitioning into community bank CDO jobs and talks about BayCoast’s pilot program to boost diverse talent through a three-year bachelor’s program that provides a full scholarship and part-time bank job.

Almeida also talks about how her former role as chief marketing officer paved the way for her to serve as CDO. “As marketers, you touch every aspect of the organization,” she says. “It’s that empathy and personality behind marketing that transitions really well and allows you to communicate well with everyone.” Listen to the episode.

March/April Issue of ABA Banking Journal Features Bank Policy Issues

The recently released March/April 2022 issue of the ABA Banking Journal—available now online and in mailboxes—includes features on four policy issues to watch this year, as well as short profiles of President Biden’s financial regulatory appointees and an exit interview with former FDIC Chairman Jelena McWilliams.

Other articles in this issue cover the realities of ransomware; the compliance case for diversity, equity and inclusion; the art of courting millennials for wealth management services; and digital accessibility. Read the March/April issue.

Consumer Confidence Rises in March

The Consumer Confidence Index increased slightly in March to 107.2 from 105.7 the month prior, the Conference Board said yesterday. “Consumer confidence was up slightly in March after declines in February and January,” said the Conference Board’s Lynn Franco. “Meanwhile, purchasing intentions for big-ticket items like automobiles have softened somewhat over the past few months as expectations for interest rates have risen.” Read more here.

CISA Cyber Tip of the Week

Building the Human Firewall is Step #1 in any cybersecurity hygiene program. What training and education does your organization offer for training your employees? The Human Firewall is equally as important as the technical one. PLEASE take steps to inform and educate your employees on cybersecurity.

Almost Last Call: New Account Documentation and Compliance Seminar - April 12

Managing risk is the #1 priority for all financial institutions, and it all starts at the new account desk. If a criminal cannot get in, they cannot steal from your organization and community.  Well-trained new account personnel and universal bankers who recognize and stop attempted dishonest activity are the first line of defense in protecting a financial institution from fraudsters. Unfortunately, new account personnel are often trained "on the job," which can result in an environment of potential vulnerability and unnecessary losses for the financial institution. Additionally, with constant new regulations, the need for ongoing compliance training is paramount to maintain diligence and update processes and procedures. This full-day workshop, customized to South Dakota state law, teaches essential new account opening procedures, best practices, and compliance requirements. It answers complex questions asked by customers and staff while focusing on vital information for every new account type. Click here to view the full agenda and to register.

This is How We Roll: SDBA is Hitting the Open Road!

Ever wonder, "what is the SDBA up to these days?" The answer to that question is coming to a town near you! The SDBA team will be hitting the open road, making stops in Pierre, Sioux Falls, Aberdeen and Rapid City, April 21-May 4, to discuss with our members, partners and legislators, about what the SDBA has going on, our plans for going forward, and how to engage as we move the needle forward in South Dakota’s banking industry. These meetings will be FREE to attend, however, we are requesting registration ahead of time so we can order the appropriate number of lunches. Lastly, all attendees will be entered to win a prize, perfect for the summer months ahead! Click here to view the schedule and register.

605 Strong: Mental Health Voucher Program

The SDBA is partnering with the SD Department of Ag and Natural Resources (SD DANR) to highlight and promote a new program that provides free mental health vouchers to farmers and ranchers in need. We all know the farm economy has been a tough one and farm stressors can come from many directions, including the agricultural system, farm and family finances, mental and physical health challenges, and relationship difficulties. But there are services and resources, many of which are free, that are available to our producers during these troubling times.

If you click here, we've uploaded two flyers, provided by 605Strong, that you may utilize to support your staff, customers, friends, family and yourself. You may also contact Mr. Brian Pontious, Policy Advisor, SD DANR, to coordinate the quantity of brochures and delivery arrangements directly to your banking organization! Again, all brochures are provided by SD DANR at no cost to your bank.

Brian Pontious. Policy Advisor
Department of Agriculture and Natural Resources
523 E. Capitol Ave. Pierre, SD 57501
Phone: 605.773.4073
Email: [email protected]

Please utilize the 211 Helpline, available 24/7. Be well, seek assistance, and together, we're #605Strong.

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Contact Natalie Likness, SDBA, at 605.224.1653 or via email.