I have presented our seminars to over 1,000 credit union CEOs, staff members and volunteers since 2003. Our evaluations from these seminars have been universally positive. Many CEOs have returned a second and third time, bringing with them their directors and ALCO members. They have also referred our seminars to other credit unions. In particular, the positive comments have focused on my ability to explain difficult financial concepts using everyday terms and practical examples. I have compiled statistics from the attendees and would be glad to share those with you. I would also be glad to provide a list of attendees as references if you desire.
In 1979 I founded Mark H. Smith & Company, CPAs, an auditing and consulting firm. The firm performed supervisory committee examinations and CPA audits for credit unions and community banks throughout Utah and the Western United States. In the early 1990s I was appointed to the American Institute of Certified Public Accountants Credit Unions Committee where I served for three years. In 1995 I made the decision to limit services to credit unions only.
Having had considerable experience as a regulator in helping credit unions move through the high interest rate period of the early 1980s, I have always been interested in the issues of interest rate risk (IRR). In particular I have been concerned with the serious limitations of gap analysis as it was being used at the time. I felt at the time that an income simulation model would be a far superior management tool than gap analysis. In 1984 I wrote the first release of ALMPro®, an income simulation model. Recognizing that typically CEOs of small- and mid-sized credit unions find their time extremely limited for these types of activities, we made the decision to provide ALMPro® as a service rather than selling software. In the last 19 years, we have made significant upgrades to the ALMPro® Model, the most recent being in 2006 when we added a Dashboard Module to the ALMPro® Report Service.
The focus of our practice has shifted from auditing to consultation. At the present time, we are providing monthly or quarterly ALMPro® Service to over 200 small- and mid-sized credit unions nationwide.
State of Utah, Department of Financial Institutions. I performed regulatory examinations of state-chartered credit unions, banks, and savings and loans.
State of Utah, Department of Financial Institutions. I supervised the regulatory examinations of approximately 200 state-charted credit unions each year. I also supervised the workout of numerous troubled credit unions during the high interest rate environment of the 1980s.
I supervised the operations side of a five-branch community bank in northern Utah. My responsibilities included cash and funds management, and investment management.
I served as interim CEO of a mid-sized credit union. At the time I began, the credit union was in work-out mode having serious deficiencies in both the lending and operations areas. I successfully implemented policies and procedures which resolved these issues, and started the credit union on a track toward success.
Mark's Bio