Newsflash Jan. 17, 2013

CDBANewsflash - Low Rez For Email 2

January 17, 2013
 

Member News

Start Bank Sees Return On Investment
New Haven Indpendent
(1-11-13)

Start Community Bank’s efforts to foster financial literacy and work with first-time account holders have paid off - in the form of an award of nearly $300,000 from the federal government. The two-year-old local community lender announced that news recently at an event at its Whalley Avenue branch. Start was one of 59 banks awarded with a Bank Enterprise Award from the Community Development and Financial Institutions (CDFI) Fund, part of the U.S. Department of the Treasury. Start Community Bank will receive an award of $287,834, which will go toward a number of the young lender’s programs. Those include “Loot Camp,” which teaches teens how to save money, and work with Columbus House to help people who are homeless to establish bank accounts.

Nickelodeon Star and BankPlus Present Check to Friends of Children's Hospital
BankPlus
(1-11-13)

With the help of Nickelodeon star SpongeBob SquarePants, BankPlus presented a check for $148,785.40 to Friends of Children’s Hospital, representing the first year’s proceeds from the bank’s Friends of Children’s Hospital CheckCard program. “On behalf of all the physicians, nurses, staff - and most of all - on behalf of the children who are patients at Batson Children's Hospital and their families, we say thank you to BankPlus,” said Dr. Rick Barr, Suzan B. Thames Professor and Chair of Pediatrics at Batson Children’s Hospital. “Not only for the show of support demonstrated by the Friends of Children's Hospital Checkcard program, but for the many programs that BankPlus supports every day that benefit children. The funds raised will help our mission of providing the best possible health care to all the children of Mississippi.” BankPlus introduced the charitable option for consumers in November of 2011, returning  proceeds from the Friends CheckCard directly to Friends of Children’s Hospital. The Friends CheckCard program is the first of its kind for both BankPlus and Friends.  
 

Of Interest

UNC Report: Still No Evidence to Discredit CRA
UNC Center for Community Capital
(1-16-13)

A report released by the UNC Center for Community Capital details flaws in the methodology and conclusions of a new paper seeking to discredit the Community Reinvestment Act, enacted in 1977 to encourage regulated financial institutions to meet the credit needs of their communities in a safe and sound manner. Researchers urged policymakers and practitioners to resist being distracted by a widely rejected thesis promoted in a December paper issued by the National Bureau of Economic Research. The "'blame the CRA' story has been refuted by industry leaders and researchers time and time again," authors said in their report, Debunking the CRA Myth Again. "Rather than trying to place blame where none exists, we argue that the focus of the debate should be on how CRA can be modernized and improved to better reflect the current financial services landscape and meet the continuing credit needs of America's communities."

A Better Way for Banks to Monitor Credit 
McKinsey Quarterly
(1-15-13) 

When banks carefully track small, significant changes in their customers’ financial situations, a study from McKinsey finds that these institutions can improve their fortunes and compete more effectively. Much more effectively, in fact.First-Mover Matters: Building credit Monitoring for Competitive Advantage, a report from McKinsey’s risk practice, shows that one way is to tap analytics and specialists to spot quantitative and even qualitative early-warning signs of borrower trouble. Another approach is to set up formal triggers for timely intervention that can guide customers back to financial health or limit further losses when the situation isn’t likely to improve. McKinsey argues that better credit monitoring could be one of the main ways that capital-strapped banks can improve their business model.

Small Banks Turn Themselves Around and Go on the Block
American Banker
(1-14-13)

Another large community bank is eyeing an exit after a breakthrough year. The announcement by Virginia Commerce Bancorp (VCBI) that it had hired Sandler O'Neill to help it explore "strategic alternatives to enhance shareholder value" — including, of course, a sale — puzzles some, considering it was just hitting its stride. Similar questions could be asked of Hanmi Financial in Los Angeles, which hired an investment banker last week. The decisions show the temptation to sell for selective banks in the right markets — ones that are healthy enough to attract buyers, yet not so powerful that they are guaranteed to thrive. The calls are close ones to make.

 

Jobs

Local Iinitatives Support Corporation - Vice President & Chief Credit Officer (New York, New York)
LISC is seeking a qualified candidate to fill the position of Vice President and Chief Credit Officer. The Vice President and Chief Credit Officer will be a member of LISC's Lending Department, and will report to LISC's Senior Vice President for Lending. Full details available here. 

Sunrise Community Banks - Prepaid Database Architect (Sioux Falls, South Dakota)
In coordination with the SVP – Prepaid and Director of Prepaid Operations, the Prepaid Database Architect will maintain the prepaid database by determining structural requirements, developing and installing solutions, and consulting and developing reporting for prepaid debit card programs. Full details available here. 

Inter-American Development Bank - Treasury & Risk Lead/Senior Specialist-Quantitative Analysis (Washington, D.C.)
The IDB's Office of Risk Management (RMG) is in charge of managing credit, market, and operational risk within the Bank. RMG seeks to hire a talented and seasoned quantitative risk management professional to lead and implement initiatives and work programs in the Treasury risk area. The candidate will lead the development of innovative and effective risk management methodologies, models, and analytical solutions to support the Bank's treasury risk management activities in a highly complex and dynamic financial market environment. He/she will, individually or as project team leader, implement work programs and projects to strengthen the framework for analyzing, measuring, and managing risks. Full details available here. 

NCB Capital Impact - Project Manager, The Green House Project (Crystal City, VA)
The Project Manager works with long-term care organizations by providing the day-to-day planning and technical assistance related to implementing The Green House model of care. The Project Manager educates and advises on person-directed practices, as they relate to financial feasibility analysis, physical environment, and operational policies and procedures. Project Managers work with Green House adopters and The Green House Project team to ensure that activities promote and support best practices for sustaining the values and essential practices of the model. Full details here. 

CARS - Director of Ratings (Flexible location)
The Director of Ratings is responsible for the management and development of CARS Inc’s ratings activity as a line of business and oversees the quality of ratings and the integrity of the rating process. The position requires strong demonstrated skills in the following areas: strategic leadership, line of business management, development and maintenance of multi-faceted client relationships with investors and ratees with a high degree of sensitivity, as well as experience in financial underwriting and/or analysis. Because CARS™ rating work is done through a network of highly skilled, geographically dispersed professional staff and consultants, the Director of Ratings must also be highly organized and communicative to manage decentralized specialists involved in demanding and complex processes. Full details available here. 

                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

Date: 
Thursday, January 17, 2013