C-suite

Enterprise risk management is an area banks are trying to master, and the appointment of a chief risk officer to oversee this effort has become common, even among community banks. We asked CROs and other experts for their perspectives on this evolving role, the skills needed to do the job well and their biggest worries.

Bankers scratching their heads about how to attract millennials can take some comfort knowing that generations ago their predecessors also struggled to connect with America's youth. Crocker National Bank found a way, though.

Bank marketing was once largely a function of architecture. More than anything else, customers were looking for safety and solidity and banks sought to convey those concepts through their buildings. Today, with branch traffic steadily declining, bank marketing is reinventing itself as chief marketing officers — a relatively new title in the industry — face unprecedented challenges and opportunities.

With more than 1,300 U.S. branches and a Canadian parent company, TD Bank hardly qualifies as a community bank. But the institution is trying to underscore its local-bank bona fides with marketing campaigns touting its support of neighborhood causes.

A growing number of banks employ chief marketing officers who manage multimillion-dollar budgets and are involved in high-level corporate decision-making. The pressure's on to come up with creative ways to differentiate their brands and connect with customers.

Aside from shoestring budgets, the biggest problem for many community banks is that their marketing programs have gone stale, experts say. For too many, marketing remains bounded by three time-worn pillars: advertising, direct mail and public relations.

If you think bank marketing is all, or even largely, about advertising, think again. As fewer customers make regular trips to branches, banks are relying more on their marketing departments to connect with the public. We asked bank marketing executives around the country to talk about the challenges they face and how their roles have evolved. Here are some of their responses.

We asked bank chief financial officers what advice they would give their younger selves. Here is what they wish they'd known when they started their careers.

A chief financial officer's workday is booked solid dealing with regulatory issues, risk assessments and finding places to cut costs. If they could find an extra hour, bank CFOs say they would use that time to consider how to improve their banks' strategies, employees and communities.

If banking is under attack, then chief financial officers are the defenders of the realm. Equipped with the numbers, they are uniquely positioned to bring the credible answers their stakeholders seek and the changes their companies need.

They spent their formative years analyzing balance sheets saddled with problem assets. They watched their mentors struggle to keep their banks afloat through the crisis. And they took good notes.

Our new special reports and proprietary research profile the key executives flanking the CEOs at financial institutions and explore how their roles have evolved. First up: the chief financial officer.

In March, American Banker Research conducted an in-depth online survey of 52 bank chief financial officers from American Banker's readership as part of our inaugural C-Suite Series. The respondents were from banks with less than $10 billion in assets, with vast majority coming from banks with $100 million to $1 billion in assets. They were asked how they spend their time, where they would like to take their careers and how they are handling the unprecedented challenges of today's banking environment. Among the insights revealed from the survey: Basel III hasn't been a big deal for the top line — yet; few CFOs are focused on mergers and acquisitions; and many of them consider their roles strategic. Highlights from the research follow.

With the role of the chief financial officer being redefined since the financial crisis, we asked CFOs at banks across the country, from Stock Yards' Nancy Davis to Comerica's Karen Parkhill, about what parts of the job they most enjoy, which tasks are taking up more time now than in the past, where they wish they could spend more time and, finally, what they would tell themselves at the beginning of their careers. Here are some of their responses.