THANK YOU FOR SUBSCRIBING
The Quintessential Technology Source for Corporate Financial Professionals
CFO Tech Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from CFO Tech Outlook
Jeff Rigsby, President & CEO“For most banks, their top two priorities are managing business performance and controlling risk,” says Rigsby. “It is not uncommon to have two separate groups focusing on these priorities.” Such siloed operations can lead to elevated exposure to adverse impact to earning, capital and regulatory compliance risks. CB Resource’s mission is to synchronize their clients’ business and risk management priorities and deliver a fully integrated ERM solution. “Every bank has a unique business model. We analyze how they work and then customize their ERM system accordingly,” explains Rigsby. Community banks set a threshold for the risk they are willing to take to achieve their organizational goals. CB Resource offers an ERM solution that evaluates a bank’s risk appetite and ensures that the solution identifies, measures, monitors, and controls the level of risk affecting the bank’s business model.
CB Resource complements their ERM solution with a Strategic Plan and Capital Plan solution. The Strategic Plan solution effectively evaluates meaningful alternatives to produce an executable solution, while the Capital Plan solution includes the necessary components for a bank’s executives to assess strategies, risk profiles, and capital contingencies. These services are designed to integrate with each other and work in tandem to produce effective and befitting risk management solutions that optimize a client’s overall performance. “Because we integrate our services, most of which are automated, we are efficient and eliminate certain redundancies within an organization,” expresses Rigsby.
In addition to their standard risk assessment applications, CB Resource offers clients an automated online portal, CB BankAnalytics. Along with a database of over 20 million bank records collected and stored in the “cloud,” CB Analytics dives deep into the analysis of key risk categories (i.e. credit, interest rate, liquidity, strategic, trust, insurance, etc.) providing ideal strategic or capital planning, independent risk management, M&A, and regulatory compliance perspectives. CB Resource is set to launch the second generation of CB BankAnalytics this year, which is upgraded with a CBR performance index. This feature provides community banks with an interactive dashboard that ranks them nationally, regionally, and locally in eight key performance areas. “We have expanded the platform to also include bank stock performance, market analysis, and local-state-national economic analysis,” adds Rigsby.
CB Resource, since 2006, has been empowering community banks with an extensive suite of risk assessment services that cover financial performance, operations, trust, wealth management, insurance, and payment systems risks. For enterprises undergoing digital transformation and partnering with FinTech companies, CB Resource dynamically aggregates data for C-suite level analysis, which positions executives to make risk-based decisions and drive optimal performance. Experiencing rapid growth, CB Resource serves community banks across 40 states in the U.S. and expects 2019 to be a year of safe and compliant banking.
| Share this Article: Tweet |
Company
CB Resource
Management
Jeff Rigsby, President & CEO
Description
An enterprise risk management (ERM) and planning firm for community banks
"At CB Resource, we take pride in our ability to aggregate and analyze community bank performance and risk-based data. This report focuses on banks between $1B to $5B in assets. The report identifies high performing banks by scoring 11 key performance indicators typically used in analyzing bank value. We averaged the past 12 quarters of data and identified which banks were in the top quartile of each KPI. Banks that score in the top quartile of 4 or more of these KPIs are recognized," stated Jeff Rigsby, Chairman & CEO of CB Resource and Finance 500, inc. "Any bank in this asset range can utilize this report to assess their relative performance levels and determine if their strategic priorities are yielding their intended results," he added.
The full report can be found here.
The 11 key performance indicators selected by CB Resource are Asset Growth Rate, Loan Growth Rate, Deposit Growth Rate, Return on Average Assets, Return on Average Equity, Net Interest Margin, Efficiency Ratio, Non-Performing Assets to Assets, Non-Interest Income to Average Assets, Non-Interest-Bearing Deposits to Deposits, & Cost of Funding Earning Assets.