Summary
Community bankers consistently identify deposit growth as a principle driver of their future success. At the same time, experience shows that many banks still employ a relatively antiquated approach to managing their deposit-gathering efforts. They generally take an "if it isn't broke, don't fix it" approach and continue with the same strategies that served them well in the past. Now more than ever, banks must adopt more proactive deposit management methods, acknowledging that it is vitally important to incorporate deposit structure risk into their long-term risk management strategies. There are three reasons why now is the time to consider appointing a deposit strategy officer. 1. Risk and deposit management intertwined. 2. All deposits are not the same. 3. The world is smaller. Community bankers continually talk about the importance of deposit growth. Developing a systematic and consistent deposit management strategy will help any bank more efficiently generate cost savings that will translate into increased profitability.
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Who's Minding Your Deposits?
Community bankers consistently identify deposit growth as a principle driver of their future success. At the same time, experience shows that many banks still employ a relatively antiquated approach to managing their deposit-gathering efforts. They generally take an "if it isn't broke, don't fix it" approach and continue with the same ...
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(Copyright 2011)
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