What are five benefits of engaging a strategic planning facilitator? You may ask. “We’ve always done our own strategic planning and we’re doing fine.” However, what do you do when examiners say your strategic plan is deficient or ask why it hasn’t been implemented? When I was the CFO and COO of the bank I cofounded, I oversaw strategic planning as well. I faced the challenge of trying to participate, provide input, write notes, and post notes on the walls. All with the purpose of saving money because it wasn’t in our budget. I couldn’t do it all by myself. It was also difficult to navigate the conversation to ensure all participants had the opportunity to share their opinion. As you know, those who speak up get their ideas in. Those who wait to fully understand the issues before sharing their thoughts and opinions didn’t get their ideas heard.

After that, we decided to engage a facilitator so I could truly participate as a leader of the organization. Never went back to trying to do it all on my own. I quickly learned the benefits of engaging a strategic planning facilitator. Didn’t have to take notes, didn’t have to type the meeting minutes. I could finally simply be a participant and think clearly about our strategic objectives and the strategies to achieve them.

If you can relate to my situation, below are five benefits of engaging a strategic planning facilitator that I want to share with you:

All attendees participate in the session.

If you get a good facilitator, he or she will ensure that everyone participates—including the quiet ones. A successful team has a variety of personalities, skills, and experiences that are all needed during the strategic planning sessions. A professional facilitator also ensures the conversation flows and keeps the group on point.

Facilitators bring an outside party objectivity.

It is easy to remain “inside a bubble” and not think objectively when your institution is all you know. Family-owned banks where the executives are also board directors face this challenge especially. With the amount of work to be done, it is difficult to stay on top of all the industry changes. Additionally, the regulatory updates as well as technological advances take considerable time, and important developments may be missed. Facilitators who are well versed in the banking industry bring knowledge they learn from their clients and from industry events.

Facilitators bring a non-banking perspective.

Outside facilitators also bring the added benefit of a non-banking perspective which can help the group look at the bigger picture. Whether they are small business owners themselves or work for a large firm, they are not bank employees. This helps the group think from the customers’ perspective and to align their strategic objectives to serve their customers better.

Facilitate a safe atmosphere to brainstorm.

One of the key responsibilities of the facilitator is to moderate the discussion. They ensure it is a safe environment for participants to speak their mind and brainstorm freely. A successful strategic planning session includes active discussions amongst the participants. The best facilitators allow disagreements to happen and facilitate the conversation to arrive at an agreed objective.

Begin and end on time.

Another key responsibility of facilitators is to begin and end the meetings on time. They prepare the agenda, keep track of time, and ensure the group takes breaks as scheduled. It is important for the facilitator to ensure the team stays on track throughout the sessions. Although it is important to let everyone speak, there are always people who talk more and many often go off on a tangent. The facilitator’s role is to reel the conversation back and focus on the topic at hand.

In summary, the facilitator in your strategic planning session ensures all the participants are heard and moderate a healthy discussion. The goal is to facilitate the conversation to arrive at the strategic objectives and strategies to achieve the company’s vision. I hope learning about these five benefits of engaging a strategic planning facilitator help you in your process. We’re here to help!

Ready for Takeoff? An Enterprise Risk Management Guide for Bank CEOs As a bank CEO, you are the pilot of a complex and dynamic aircraft—your institution. Just like an airplane pilot must ensure everything is in order before takeoff, you too must confirm that all aspects of your bank are ready for the journey ahead. This involves meticulous planning, adherence to regulations, assembling the right team, and preparing for potential challenges.

While the consequences of an airplane disaster differ from a bank failure, both scenarios significantly impact lives daily.

Let’s delve into the critical components and a straightforward “risk assessment” that ensure a successful flight:

The Right Crew

Your crew is pivotal to your bank’s success. Imagine your First Officer as your Senior Leadership Team. Are they prepared to step up if needed? Have they received the proper training, and has it been tested?

Consider the flight attendants—equivalent to your tellers, customer service representatives, universal bankers, personal bankers, and business development officers. Are they delivering top-notch customer service? What about your ground crew, representing your operations teams, credit administration, compliance, audit, risk, technology, and human resources? Are they efficient in their behind-the-scenes roles, ensuring smooth operations and customer satisfaction?

A successful airline crew works harmoniously, striving to be the best. Similarly, your bank’s employees must be proud of their roles and work together towards the common goal of being a top-tier institution.

The Right Processes

Processes are the backbone of both aviation and banking. Does every team member follow their specific job checklist? Are potential risks mitigated? For instance, has your bank passed its safety inspections and regulatory checks? Are employees up-to-date with their training, especially concerning new technologies and cybersecurity?

A pilot’s attention to weather and procedures before takeoff is akin to your focus on the bank’s environment and regulatory landscape. Rigorous processes ensure both planes and banks operate safely and efficiently.

The Right Services

In-flight services can make or break a passenger’s experience. Does your in-flight crew prepare adequately to ensure customer satisfaction? Similarly, your bank must offer services that meet your customers’ needs. Are you providing a range of products and services that cater to your clients?

Consider the marketing of your flights—are you promoting your bank’s offerings effectively? Just as airlines need to align their services with passenger expectations, your bank must continuously evolve to meet customer demands.

The Right Passengers

Passenger management is crucial for airlines, especially regarding those seated in the exit rows. They must be capable and willing to assist in emergencies. Likewise, in banking, you must ensure you have the right customers in key positions—your Centers of Influence (COIs). These are the clients who can bring new business, deposits, or serve on advisory boards.

Having the right passengers—or customers—ensures that in times of need, your bank can rely on them for support.

Translating the Analogy to Banking

In our analogy:

• The pilot is you, the CEO.
• The copilot or First Officer represents the bank’s Senior Leadership Team.
• The flight attendants are your front-line employees—tellers, customer service reps, etc.
• The ground crew includes your operations, compliance, risk, and other behind-the-scenes teams.
• The passengers are your customers.

While a pilot’s responsibility is for passengers’ lives, a CEO’s responsibility extends to their customers’ livelihoods. Here’s a checklist to ensure your bank is “Ready for Takeoff”:

• Do you have the right staff in place?
• Is there a succession plan?
• Are your employees continually trained on their roles, new technologies, and cybersecurity?
• Is your bank safe and sound?
• Are your COIs effectively placed to help grow and sustain the bank?
• Are you effectively marketing your products and services?
• Is your bank prepared for potential disasters?

As a bank CEO, this analogy aims to help you ask the right questions about risk management. Think of your bank holistically and understand how managing risk and enhancing the customer experience are intertwined. As you implement new strategic objectives, keep these questions in mind. Your goal is to confidently say, “Ready for takeoff,” ensuring your crew is prepared, your customers are satisfied, and your bank is secure, guiding you toward your vision.

As always, we’re here to help.