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Bank Employees Across U.S. Celebrate 20th Annual Get Smart About Credit DayDavidson Announces Retirement from GSB-WI
Kirby Davidson, president & CEO of the Graduate School of Banking at the University of Wisconsin-Madison (GSB) and its supporting organization the Prochnow Educational Foundation (PEF), recently announced his retirement effective December 31, 2024. Davidson joined GSB/PEF in 2000 as the vice president of marketing & banker relations. He was promoted to president & CEO in 2008. During Davidson’s tenure as president & CEO, the School expanded its programming, adding four additional specialty schools (IT Management, IT Security, Sales & Marketing and Digital Banking), in addition to the HR and Financial Managers Schools that were introduced in the early 2000s. Davidson, along with key faculty leaders, also worked closely with the Wisconsin School of Business so that graduates of GSB’s primary Graduate Banking School now receive the prestigious Executive Leadership Certificate from the Wisconsin School of Business – the highest leadership certificate available from UW – in addition to their GSB diploma. Davidson oversaw research and development of the web-based bank management simulation software, FiSim, that replaced the previous BankSim model the School had used for decades. This state-of-the-art platform was launched in 2019 and is exclusive to GSB. It provides graduating seniors with a robust simulation model that incorporates modern, real-world approaches to banking and leadership within the model. "Under Kirby Davidson's leadership, the Graduate School of Banking has expanded its educational offerings and built on the School's reputation for excellence and academic rigor. He has established a solid foundation for his successor and GSB is very well positioned to continue creating leaders and educating professionals in our dynamic industry,” said Randy Hultgren, president and CEO, Illinois Bankers Association, and chair, GSB Board of Trustees. “We have an outstanding and experienced professional staff that has an average tenure of more than 15 years with GSB,” Davidson said. “This experience and passion for offering the best and most progressive educational programs, student/faculty experience, and expanded learning platforms – both residential and online – combined with having the best faculty in the industry, is key to GSB’s stellar reputation in the industry. Next year marks my 25th year at GSB and I’m so thankful and appreciative to the Board for having this opportunity, the friendships that have been formed and the numerous successes we’ve achieved.” GSB has exclusively retained The QTI Group to conduct the search for the new president & CEO. The QTI Group is a comprehensive human resources advisory services firm founded in 1957 and is headquartered in Madison, Wisconsin. The search will launch in January 2024. Immediate inquiries for this position may be submitted to The QTI Group at the email or phone number listed below. Brooke Hintze, Executive Search Consultant, QTI Executive & Professional Search, Inc., [email protected] or 608-257-1057 Since 1945, the Graduate School of Banking at the University of Wisconsin-Madison has been educating professionals and creating leaders in the banking industry. Using feedback from its alumni, Banker Advisory Board, and sponsoring state bankers’ associations, GSB continuously updates program offerings to meet the professional development needs in the banking industry. GSB currently offers its flagship Graduate School of Banking, which leads to a GSB diploma in bank leadership as well as a certificate in executive leadership from the Wisconsin School of Business. Specialty schools include the Human Resource Management School, Bank Technology Management School, Bank Technology Security School, Financial Managers School, Sales and Marketing School and Digital Banking School – plus an array of programs in the GSB Online Seminar Series. More than 23,000 alumni have benefited personally and professionally from attending one of GSB’s programs. For more information, please contact Kathleen Berman, vice president, marketing and communications, Graduate School of Banking, 608-960-7927 or [email protected] All 2024 Schools are Open for Enrollment - Visit GSB.org for Details & ApplicationsApplications are now being accepted for all 2024 GSB schools -- so make your plans now to benefit from a world-class education. Space is strictly limited and early enrollment is encouraged. The Digital Banking School will be held online; all other schools are residential and will be held in person on the University of Wisconsin campus in Madison, Wisconsin. We can't wait to see you and members of your team at one of these programs: July 28 - August 9, 2024 This 25-month leadership development program provides the tools you need to be successful in your banking career. At GSB, you’ll develop the critical thinking skills and leadership talents to manage change and motivate people by drawing on a clear understanding of all areas of financial services management. Plus, you’ll earn the prestigious Certificate of Executive Leadership from the Wisconsin School of Business in addition to a GSB diploma. HUMAN RESOURCE MANAGEMENT SCHOOL April 15-19, 2024 Designed for HR professionals in banking to help tie together important banking and HR issues, this school will expand your knowledge of the business of banking, human resource management, talent development, compensation, employee performance and more. BANK TECHNOLOGY MANAGEMENT SCHOOL April 22-26, 2024 Created especially for financial services IT professionals, this popular and respected program explores critical banking and technology issues. Gain an in-depth understanding of bank profitability, technology management, vendor management, IT exams and more. Offered Virtually, Twice Weekly Half Day Classes, Starting March 4, 2024 The first school of its kind – to help community banks grow in the digital banking space, with a focus on innovation, digital product mix, customer engagement, technology, vendor partnerships and more. Per bank pricing allows multiple attendees from the same organization to participate affordably. September 23-27, 2024 This school goes beyond the basics to present best practices and solutions to today’s most critical financial management decisions. Designed by experienced CFOs for financial institution finance managers to provide the tools you need to build a solid foundation in asset/liability management. BANK TECHNOLOGY SECURITY SCHOOL October 16-20, 2023 Especially for IT security officers, this program will broaden your understanding of the business of banking along with an in depth, interactive and hands-on study of the latest IT security techniques and strategies. Details on Future Offerings TBA This program isn't currently scheduled, but we'll be offering a Sales and Marketing program in the future; please visit our website to request information -- you'll be the first to know when we schedule the next session of this school. U.S. Banks Targeted by Resurgent Malware ThreatMore than 30 U.S. banks have been targeted by a resurgent malware threat. According to a recent advisory by international IT and cybersecurity firm Threat Fabric, Xenomorph malware has reemerged in a new distribution campaign. Threat Fabric’s cybersecurity analysts recently identified the resurgence, which relies on deceptive phishing webpages posing as a Chrome update to trick victims into downloading malicious Android package kits. Xenomorph was first identified in February last year and is known for using overlays to capture personally identifiable information such as usernames and passwords. The latest campaign is a geographical expansion, with thousands of Xenomorph downloads recorded in the United States. It had been predominantly active in Europe. “Xenomorph maintains its status as an extremely dangerous Android banking malware, featuring a very versatile and powerful [automatic transfer system]engine, with multiple modules already created, with the idea of supporting multiple manufacturer’s devices,” Threat Fabric analysis wrote. The Threat Fabric advisory includes information for identifying infections related to the Xenomorph malware. How Banks can Lead from the Front with DigitalThe value is high to banks of continually adapting their digital toolkits to remain competitive and deliver consistently positive customer experiences. The rapid emergence of technologies such as artificial intelligence has significantly influenced various aspects of the customer experience, including within the financial services landscape. The implications of AI are impacting customer expectations and the interactions they have with financial brands. And in today’s rapidly evolving digital landscape, banks need to continually adapt their digital toolkits to remain competitive and deliver consistently positive customer experiences. Leveraging data, analytics and HCD Moreover, data analytics and AI capabilities, along with HCD, should be embedded in the product organization and their milestones. By surfacing customer needs, preferences and pain points in a product team’s workflow, they can develop better user stories, optimize their backlog to match customer priorities and improve measurement of their objectives and key results. Once these foundational elements are in place, banks should look at the beginning of their customers’ journeys to identify opportunities to streamline onboarding and account management. Simplifying the onboarding process is crucial because banks can benefit from creating seamless digital experiences that enable customers to open accounts, complete necessary documentation and manage their finances easily. Implementing digital identity verification, e-signatures and automated document processing can also expedite onboarding and reduce friction for customers. Building trust and security protocols for customers Advanced cybersecurity technologies protect customer data and prevent fraudulent activities. Implementing multi-factor authentication, biometric verification and real-time transaction monitoring can enhance security while maintaining a seamless user experience. In turn, this can prompt customers to feel more comfortable when sharing sensitive information, positioning their banks as trusted partners who can safeguard their most pertinent details. Artificial intelligence can also play a crucial role in understanding customer behavior patterns, and deviations from those patterns, to identify potential fraud within a business and looking across business lines. For example, a bank can stop a mortgage customer from inadvertently sending escrow funds to a fraudulent account by observing fund flows across silos within the same bank. Driving connected experiences that give customers more control Banks can also empower customers with tools that provide insights into their financial health and help them make informed decisions. By leveraging data analytics, banks can offer personalized budgeting, savings and investment recommendations based on individual financial goals. This can foster long-term customer relationships and position banks as trusted financial advisors. AI-enabled tools can also identify when a customer is ready for the next stage in the relationship, bringing them from a purely retail relationship into wealth management, as an example. Additionally, customers expect consistent experiences across various touchpoints, including mobile apps, websites and physical branches. Seamless integration and synchronization between different platforms allows customers to start transactions on one device and continue it on another, without any disruptions. This creates a unified customer experience and fosters loyalty. For example, a customer may start out in a chat via their bank’s app but realize they need to speak with someone instead. Banks shouldn’t make customers “channel switch” by prompting them to stop the chat and call into a contact center. Rather, banks can use tools that give customers the capability to switch seamlessly from the chat to making a call within the app. However, innovative tools and capabilities should not be solely pointed toward the customer. Employees at the bank can also benefit greatly from AI-powered technologies, driving greater efficacy in their roles. A bank’s contact center agents can utilize AI to access “whisper coaching” tips in real-time while on the line with a customer, which could help them to slow their rate of speech or offer insights on how to defuse an escalation. Bankers can also have “next-best conversation” specifics delivered to their inbox in advance of a client meeting, leveraging insights uncovered by AI. This can drive greater personalization and help the banker be more efficient, focusing their time on more value-add activities. Fostering core partnerships to remain digitally competitive The lion’s share of work lies in companies’ ability to take an agile approach to their work and how it relates to customer interactions. While personalization is a worthy outcome of a team’s efforts, it should not be the goal. A positive business outcome should be the goal, with personalized and differentiated experiences, enabled through advanced capabilities like AI.
NSA and CISA Release Advisory on Top Ten Cybersecurity MisconfigurationsThe National Security Agency (NSA) and Cybersecurity and Infrastructure Security Agency (CISA) released a joint cybersecurity advisory (CSA), NSA and CISA Red and Blue Teams Share Top Ten Cybersecurity Misconfigurations, which provides the most common cybersecurity misconfigurations in large organizations, and details the tactics, techniques, and procedures (TTPs) actors use to exploit these misconfigurations. The misconfigurations in the CSA illustrate a trend of systemic weaknesses in many large organizations, including those with mature cyber postures, and highlights the importance of software manufacturers embracing secure-by-design principles to reduce the burden on network defenders. Read the Executive Assistant Director at CISA's blog post on the "Urgency for Software Manufacturers to Incorporate Secure by Design Principles." Additionally, NSA and CISA encourage organizations to review the joint CSA for recommended steps and best practices to reduce the risk of malicious actors exploiting the identified misconfigurations. For more information on secure-by-design principles, visit Secure by Design and Security-by-Design and -Default.
CISA News: Recognize and report phishingAs we like to say, think before you click. Be cautious of unsolicited emails or texts or calls asking you for personal information, and don't click on links or open attachments from unknown sources. Upcoming Webinars: Two items of local interest to mention. The Russian Cyber Attacks on Ukraine is Wednesday November 1 (virtual) and the Siouxland IT Symposium of Thursday November 2 (In Person Sioux Falls). Some great in-state opportunities for networking and expanding our cybersecurity knowledge!
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