Pioneering Profit Risk and Sustainability - How To Re-Focus The Income Statement
01.14.2015 - 01.14.2015 (finance)
2 p.m. ET; 1 p.m. CT; Noon MT; 11 a.m. PT
Credit unions have traditionally focused on managing risk in the balance sheet for credit risk and asset-liability risk. These two risk management tools are certainly important components as they parts of they focus on understanding the risk in the balance sheet. However, there is a new and cutting-edge risk management focus which attends to the risk embedded in the income statement. This concept is called "Profit Risk" and assesses the risk within the income statement and the degree to which the income statement is sustainable. The sustainability of the income statement is the key component of this new risk management concept. This cutting-edge presentation will define "Profit Risk" and show how credit unions can measure, track and utilize this new risk management concept.
Rich Weissman, President & CEO, DMA
Rich Weissman is President and CEO of DMA, a premier database provider to financial institutions throughout the US and Canada, headquartered in Beaverton, Oregon. DMA was started in 1996 to help financial institutions focus on managing for income sustainability, by integrating management, finance, marketing, and sales.
Rich has over 30 years of marketing experience in national and international companies. Prior to founding DMA, Rich was Marketing Director at Bank of America, U.S. Bancorp, and National Westminster Bank USA, as well as working in market research in the packaged goods industry.
His work has been recognized internationally, and he is known as one of the nation’s experts in the area of profitability integration for management, finance, marketing and sales, and he is a top-tier speaker at many financial services industry conferences.
Rich completed his Ph.D. work at New York University in Quantitative Analysis and Statistics, and he holds Master’s degrees in both Sociology and Psychology coupled with post-graduate studies at New York University’s School of Business. He also completed the Marketing Management Program at Stanford University. Rich holds many academic awards, including Phi Beta Kappa, and he completed his B.A. summa cum laude at New York University in the Social Sciences, focused on Statistical Research.
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