Strategic Priorities & Financial Wellbeing

Transcription

1 Strategic Priorities & Financial Wellbeing 9 th May 2018 COLM O GRADY

2 Strategic Priorities & Financial Wellbeing 1. Key Strategic Priorities > 8 Operational Areas > & > Scoring System. 2. Implementing the Plan

3 1. Regulation & Compliance Licence to Drive 1. No Central Bank Restrictions/no outstanding RMP s 2. Embedded R & C Functions 3. Effective Governance 4. Policies & Procedures & Training 5. Other GDPR > Independent, resourced, Competent Functions > No RMP s

4 2. Financial 1. Viability projected increasing surpluses > Interest Rate > Loan to Asset Ratio - Loans Issued Growth rate > Repayment Ratio > Member Shares Growth common bond penetration rate > Resources technology / Human / Facilities / Marketing spend > Cost Control Member Insurance, Wages, Overheads > Dividend / rebate rate > Reserves ratio 2. Clear Reporting / Benchmarking 3. Strong financial control function > Surpluses > Key targets Income, loan growth, costs > Key ratio s above > Common bond penetration

5 3. Products & Services 1. Loans & Savings some medium term ones 2. Full electronic banking service 3. Loan Approval service 4. Other Services 5. Debit Card / Current A/c / Mortgage Future > 1 to 4 Above > Plans for 5th

6 4. Facilities & Infrastructure 1. Offices 2. Website / Apps / Transact Online 3. Integrated Systems review of bottle necks 4. Customer Services Centre / Customer experience 5. Databases Online/ Phone/ / Social > Loan Turnaround > % Online/on databases > Member Experience - Survey / Mystery Shopper > Queues/phone answering

7 5. Marketing & Business Development 1. Key Resource and Marketing Spend 2. Marketing & Business Development Plan o Brand Building - Website / Facebook / Out & About / Sponsorship / Newsletters / Annual Booklet / Adverts / Signage o Focussed Campaigns - Flyers / Completion Letters / Phone Calling / Events / Employers o Online Campaigns / SEO (Search Engine Optimisation) 3. Staff Selling 4. Driving online / phone activity 5. New Members younger > Signed off Comprehensive Plan > on Marketing Effectiveness monthly > Loans Issued Growth Rate > New members / Common bond penetration > The above

8 6. Board & Governance 1. Board Composition 2. Functioning Committees 3. Strategic Plan implementation away from operations 4. Management Team Oversight 5. Functioning > Delivery of Strategic Plan > CEO Appraisal > Governance > New Board members

9 7. Mergers & Collaboration 1. Clear Merger Strategy 2. Collaboration 3. Resources and Integration > Collaboration Initiatives > Achievement of DLBC > Mergers & Collaboration

10 8. Human Resources 1. Correct Structure to Deliver Strategic Plan external independent review 2. CEO and management team 3. Clear Roles,, Appraisals 4. Training 5. Culture > Delivery of Strategic Plan > Review of structure completed > Customer Surveys / Employee Survey > Wages Ratio

11 Scoring Examples Credit Union Scoring Sheet X Credit Union Scoring Sheet Y Business Heading Score BUSINESS HEADING SCORE People and Resources 5.5 People and Resources 6 Marketing & Business Development 4 Marketing & Business Development 5 Board and Governance 5 Financial Viability and Sustainability 8.5 Products and Services 8 Infrastructure 4.5 Regulation and Compliance 6 Board and Governance 7 Financial Viability and Sustainability 6 Products and Services 6 Infrastructure 4.5 Regulation and Compliance 8.5 Merger & Alliances 8 Total 41.5 (59%) TOTAL 51 / 80 (64%)

12 Implementing Change / Strategy > Strategy review full team - Expert Facilitation Uniqueness of Credit Unions Lots of seminars attended Catalyst for change Be challenged Scoring Each Area > Communication and buy in > Management & Staffing review formal - implementation > Monitoring changing agendas and reporting > Review time out again

13 Wrap up / Key Message > Shake It Up Outside Views Will be Listened to Clear Strategy > Organisational Structure > Board Effectiveness

14 Thank you Colm O Grady RBK T: @RBK Disclaimer While every effort has been made to ensure the accuracy of information within this publication is correct at the time of going to print, Russell Brennan Keane do not accept any responsibility for any errors, omissions or misinformation whatsoever in this publication and shall have no liability whatsoever. The information contained in this publication is not intended to be an advice on any particular matter. No reader should act on the basis of any matter contained in this publication without appropriate professional advice.