the blog: TWICE FOCUSED with JIM JONES

Massachusetts Bankers Association Senior Mortgage Lenders Forum on Friday, July 14, 2017

July 11, 2017   Posted in Uncategorized | No Comments | Email This Post | Print This Post

If you are a senior mortgage lender you won’t want to miss the next session of the Massachusetts Bankers Association Senior Mortgage Lenders Forum on Friday, July 14, 2017! Our speaker, Jeremy D. Potter, Esq., Associate Corporate Counsel, Quicken Loans, will present The 2017 Mid-Year Mortgage Compliance Hot Topics and Near-Term Outlook.

Jeremy will discuss the latest compliance developments from Washington, D.C., the status and near-term outlook of HMDA reform, mortgage technology innovation developments, and other industry information.

The forum is an ideal way for a senior mortgage lender to quickly learn more about the latest in mortgage lending, discuss emerging issues with peers, and build relationships with senior lending professionals. I will serve as the forum’s facilitator partnering with MassBanker’s Tanya Duncan throughout the day. Program and registration details can be found at:

https://www.massbankers.org/MBRD/MB_Education_Training/MB_Event_Display.aspx?EventKey=PDF17JULY

 

Massachusetts Bankers Association Risk Managers Forum – July 21, 2017

July 11, 2017   Posted in Uncategorized | No Comments | Email This Post | Print This Post

If you are in risk management, you won’t want to miss Session 1 of the Massachusetts Bankers Association Risk Managers Forum on July 21, 2017! Our speaker, Mike Cohn, Wolf & Company, P.C., will discuss the links between a community bank’s Key Risk Indicators and its risk appetite and ERM tools and techniques to build a bridge to strategic planning and the process of bank innovation.

The forum is a great way to learn new risk management approaches, discuss the latest issues and trends and build relationships with bank risk management professionals. I will serve as the forum’s facilitator, partnering with MassBanker’s Ben Craigie throughout the day. Program and registration details can be found at:

http://bit.ly/2qK8zR3

Massachusetts Bankers Association Risk Managers Forum on June 9, 2017

June 2, 2017   Posted in Uncategorized | No Comments | Email This Post | Print This Post

If you are in risk management you won’t want to miss the Massachusetts Bankers Association Risk Managers Forum on June 9, 2017!

Our speaker, Mike Cohn, Wolf & Company, P.C. will discuss the links between a community bank’s Key Risk Indicators, its risk appetite and other ERM tools and techniques to build a bridge to strategic planning and the process of innovation.

The forum is a great way to learn new approaches, discuss the latest risk issues and trends and network with your peers. I will once again serve as the forum’s facilitator partnering with MassBanker’s Ben Craigie throughout the day. Program and registration information can be found at: http://bit.ly/2qK8zR3

First Wellesley Voted Top Consulting Firm

October 19, 2015   Posted in Uncategorized | No Comments | Email This Post | Print This Post

Honored by Banker & Tradesman for the Seventh Year

Wellesley Hills, MA, October 19, 2015 — First Wellesley Consulting Group, Inc. has again received the Banker & Tradesman Best of Gold Award in the Bank Consultant category.  First Wellesley is honored and pleased to be designated the top bank consultant by the Banker & Tradesman 2015 Readers’ Poll.

“We are truly honored to have been chosen for the seventh year by Banker & Tradesman readers.  We thank the readers, our clients and colleagues for their confidence in us,” said James D. Jones, President/CEO, First Wellesley Consulting Group, Inc.

Banker & Tradesman, founded in 1872 and headquartered in Boston, MA, is published by the Warren Group.  The Warren Group provides comprehensive banking and real estate news and data throughout New England.

  • Since early July, Banker & Tradesman conducted an online survey of readers. It promoted this project via ads in the newspaper, emails to thousands of readers and customers of Banker & Tradesman, and through its website, www.bankerandtradesman.com. Readers responded by the thousands to voice their opinions.
  • The polling measures the loyalty and satisfaction readers have with vendors. It is an opportunity for readers to speak up for those providers they believe are the best.
  • The readers’ poll honors the best providers of services in the banking and real estate professions- the companies that have won the loyalty and support of the Bay State’s financial and real estate communities.

About First Wellesley Consulting Group, Inc.

First Wellesley Consulting Group, Inc. (www.FirstWellesley.com) was established in Wellesley Hills, MA. The 24-year old firm, founded in 1991, is a national professional services firm specializing in the financial services and mortgage industries. First Wellesley offers strategic and succession planning, lending consulting, SurveyMatters™ instant polling, professional development and education. Lending consulting services include strategy, organization, technology and best practice process redesign.  Clients include Fortune 500, FinTech100, Inc. 500, and other leading financial institutions, technology companies, regulatory organizations and national and state trade associations.  First Wellesley received the Banker & Tradesman Best of 2015 Gold Award in the Bank Consultant Category, its seventh year of recognition.  It is an associate member of the Massachusetts Bankers Association.

Mr. Jones, a 36-year industry veteran, is a nationally known speaker who focuses on the future of the industry, innovation, best practices and emerging technologies. He is a former bank and mortgage executive and Big 4 consultant.  He speaks nationally to CEO, director and senior management audiences and educates industry professionals in strategy and technology.

Mr. Jones serves on the core faculty of the New England School for Financial Studies.  He is the author of Strategic Planning for Mortgage Lenders, published by the Mortgage Bankers Association, and is designated as an MBA Master Faculty Fellow.

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Same Industry – Vastly Different Strategies

February 24, 2014   Posted in Uncategorized | No Comments | Email This Post | Print This Post

Financial institutions (FIs) are not standing still in today’s turbulent environment. FIs are pursuing promising opportunities and are well aware of the biggest risks.  Financial institutions, however, rarely choose identical strategies.  Consider the different strategies that FIs are choosing this year.

Two of the most public strategic initiatives are mergers and acquisitions and, for some mutual banks, conversions to stock savings banks. Financial institutions committed to M&A believe that greater asset size is essential for success. Mutual banks converting to stock savings banks believe that the access to capital is necessary for continued financial viability and to take advantage of the best opportunities.

Retail branching strategies are in a state of flux and vary widely. Some banks and credit unions remain strategically committed to the building of new physical branches. These FIs believe that new branches fuel market and business line expansion and new customer acquisition.  Other institutions are pursuing the opposite strategy of closing branches and reducing the number of retail branch staff and hours.  Some FIs are pursuing new 21st Century branch models, such as Wells Fargo’s 1,250 square foot “minibranch,” betting that a new model will increase sales and more cost effectively support lower lobby traffic.  Banks can pursue a number of these branch strategies at the same time.

Many financial institutions are keenly focused on business line growth, most often commercial lending. Some FIs are committed to an electronic future, with investments in mobile technology, mobile payments and virtual branches. Still other banks and credit unions believe that branding initiatives and increased sales and marketing budgets will produce the desired results.

A number of financial institutions are more carefully examining lines of business and product offerings. Some institutions are entering new lines of business while others are eliminating existing business lines. Examples include insurance and wealth management. At the same time a number of firms are adding and eliminating financial products and services based upon profitability studies and forecasts.

Many financial institutions, responding to the increased costs of doing business, have placed a magnifying lens on non-interest expenses. Intense efforts have been undertaken to reduce and combine staffing and reduce other operating costs to lower overhead and efficiency ratios.

Finally, a number of FIs have decided to focus on and highlight their legacy core competencies including local market knowledge, personalized customer service, high credit standards and community commitment.

The reality is that individual banks and credit unions are pursuing a number of these strategies simultaneously. What combination of strategies is best for your company? It depends upon factors such as your FI’s core competencies, culture, legacy, employee expertise, market competition and demographics and available opportunities.  It is clear that many of today’s FIs are not standing still when it comes to new strategies.

About Jim Jones

James D. Jones, a national speaker for 16 years, has presented to financial services and mortgage audiences for organizations of all sizes.More >

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