Tag Archive for: Leadership

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Classic Red Barn in a Corn Field

From the Fields: Leading to Prosperity

By Nicholas Felder

I’ve been reading Capitalism in America (2018) by former Federal Reserve Chairman Alan Greenspan and Adrian Wooldridge and it actually surprised me about the size and scope of many of the economic growths our young country has had. It’s a good read if you have the time (nearly 600 pages), but long story short, nearly all of the periods of economic prosperity in the U.S. have been driven by businesses leaders looking to change their industries by taking a new or good idea and making it better. This initially causes chaos, but generally results in a rebirth of prosperity. All of these periods were generally led by a single person or a host of individuals whose expertise and knowledge were relied upon to lead the charge.

Opportunities that I’ve been asked to review over the last 12 months include vertical integrations, horizontal acquisitions, repair versus replace, and R&D to either create new business lines or add value to existing ones; creative destruction in its finest. Requests for liquidity have been minimal due to the profitability of most operations and the governmental assistance of others. These opportunities came from some of the most unlikely operators: some with little experience in the new ventures and some attempting to pivot back into old business lines to adjust to the new post-COVID economy. My job, like all of yours, isn’t to tell people if the opportunity will succeed or fail, but to be an advisor and assessor of risk and how that risk might be mitigated by our customer or prospect.

SBA, USDA, FSA loan and guaranty programs are all time-tested vehicles for reducing repayment risk. Energy efficiency grants through energy providers or the USDA’s REAP grant can be a ton of paperwork that may need professional grant writers or facility auditors to complete but may provide significant equity capital that may reduce collateral risk and reduce debt service requirements. Guarantors, individually or corporate, may reduce the performance risk through guarantee of payment or addition of collateral. But how many of us in our peer group adequately assess the operational or human risk? I know that I sometimes glaze over the need to ask: “Who’s the next person up if you can’t perform your duties tomorrow?” or “When you look to cash out and retire in 3–5 years, do you have an identified buyer or plan?” We assume the president or CEO will be there for the long haul.

Within that same 12 months, I’ve had a business owner be diagnosed with brain cancer; I’ve had a farmer look to encourage a more owner-like mentality by bringing a non-familial key employee into ownership through a stock bonus/gift (where there’s limited next-generation prospects); I’ve had a grain farmer look to add efficiencies and add value to the product he sells through expansion during the current near-recessionary period. All these high-level business owners exhibit an “executive mindset no matter the size of the operation” which is a key success factor of Dr. David Kohl of Virginia Tech. All of these owners are in the trenches every day turning wrenches, driving equipment, handling materials, handling the HR duties, and purchasing raw materials. However, they take time to step back to assess the long-term consequences of decisions that are or will be made on the long-term viability of the business. When they call to discuss an idea, it is often the 100th iteration they’ve assessed and the likelihood of success is very high (which makes my job a little easier).

Recessionary periods weed out the weakly capitalized, those with lean cashflow, and those who don’t take those steps back to see the whole picture before making those trajectory-altering decisions. The word “recession” seems to have only negative connotations within the general public, but so does “spring cleaning” in my own home. Both are a means of reset, renewal, and setting the stage for an anticipated revival. In banking, recessions often tighten credit standards and the need to dot all the I’s and cross all the T’s that often get glazed over during times of good fortune — including the assessment of human capital in business. I’m unsure that the current soft landing will establish these resets, but I encourage all the bankers in the industry to do a little spring cleaning of your processes and procedures and ask a few more hard or maybe uncomfortable questions to ourselves and our customers with the premise of better service and being a stronger advisor.

Have a great fall season!

Felder is vice president – commercial and agricultural banking at MidWestOne Bank in Lancaster. Felder also serves on the 2023–2024 WBA Agricultural Bankers Section Board of Directors.

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Group of businesspeople sitting together in meeting
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Association Update: Empower Your Team to Inspire

Membership opportunities for every banker

By Daryll Lund

With a new fiscal year underway, the Wisconsin Bankers Association (WBA) has renewed its commitment to providing beginning and experienced bankers with expansive opportunities to spearhead their professional development and form connections throughout the industry. At the heart of WBA’s mission to support, educate, and advocate for bankers in Wisconsin is, of course, the over 30,000 bankers our organization represents. As a member-led association, WBA relies on the skills and knowledge of our membership to shape the Association and inspire the future of banking.

The Association continues to be dedicated to delivering high-quality and relevant programs. In addition to the various virtual options bankers utilize, the team at WBA offers nearly 70 in-person conferences, schools, and events throughout the state. While a primary objective of WBA programming is professional development, WBA is also focused on connecting bankers with experts in various banking-related subjects and helping to foster relationships between peers.

As Donna Hoppenjan, president and CEO of Mound City Bank in Platteville, takes the helm of the Association’s Board of Directors for the year ahead, one of our greatest priorities is demonstrating the impact we each make when standing united, staying engaged, and making our voice heard. To be an inspiration, both in your bank and throughout your community, bankers of all levels are highly encouraged to engage with the Association’s various education and advocacy-related events, programs, and groups.

The Building Our Leaders of Tomorrow (BOLT) program is one of the many ways current and emerging leaders can get involved and make a difference. Launched 10 years ago, the program was created to ensure the ongoing success of community banks by focusing on talent development. Today, the program has impacted thousands of bankers from around Wisconsin and continues to provide bankers with the space to connect, learn, and advocate for their industry. Additionally, BOLT members have the opportunity to take part in the BOLT Mentorship program to help guide the next generation of banking leaders.

WBA Connect, the Association’s collection of peer networks, is another great resource for beginning and experienced bankers to utilize. The groups — which focus on topics ranging from enterprise risk management to diversity, equity, and inclusion (DEI) in the banking industry — provide a non-competitive setting in which bankers can discuss the successes, challenges, ideas, and questions they have regarding their specific area of the institution.

In addition to learning and idea sharing with peers, bankers should consider volunteering within WBA’s Advocacy Officer program. Advocacy is a foundational component to the work the Association does to support our members. To effectively lead the change, both in our communities and in our legislature, bankers who serve as Advocacy Officers will connect with individuals locally, at the state level, and in D.C. These efforts are vital in telling the story of our industry and in ensuring bankers throughout Wisconsin have the resources needed for success.

Your active participation in the Association not only assists our staff in creating the most meaningful and up-to-date events, but also shapes the perception of our industry. Together, we can create the future we wish to see in our industry, our institutions, and in our communities.

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Executive Letter: Benefits for Every Member of the Organization

Rose Oswald PoelsBy Rose Oswald Poels

In the last year, bankers from around the state have made an incredible effort to make the most of their membership with the Wisconsin Bankers Association (WBA). When 2022–2023 Chair Dan Peterson began his term last June and spearheaded the member-wide initiative to increase engagement, it was impressive to see the multitude of ways in which bankers chose to connect with both their peers and the Association as a whole.

June, the beginning of WBA’s fiscal year, is the perfect time to reassess your involvement in the Association and uncover the programs, groups, and opportunities available for all. I encourage bank leaders to continue to emphasize the employee benefits brought forth by WBA and support all members of the bank in finding the engagement opportunities that are the most meaningful for their professional growth.

The WBA Advocacy Officer program connects individuals with an interest in public policy to opportunities to act and provide input on legislative and regulatory policy items. Working alongside members of the WBA Government Relations team and other Advocacy Officers from throughout Wisconsin, these banker volunteers regularly communicate with bank officers and directors, coordinate advocacy programs such as “Take Your Legislator to Work” days and fundraising initiatives, as well as stay abreast of the latest legislative and governmental issues.

BOLT, or Building Our Leaders of Tomorrow, members represent Wisconsin’s current and emerging bank leaders. The free program is focused on providing bankers with the opportunity to learn, network, and expand their leadership in the banking industry. In addition, bankers are encouraged to attend the leadership summits — held twice per year — to make connections, discuss challenges, and explore new opportunities for personal and professional development.

The CEOnly and CFOnly Network is open to all CEOs and CFOs currently employed at a Wisconsin-chartered bank. The group, which focuses on networking and idea sharing related to Wisconsin’s banking industry, provides bankers with the platform to anonymously ask questions and receive advice as well as connect with peers at up to three in-person networking events.

The newest benefit — WBA’s Diversity, Equity, & Inclusion (DEI) Employee Resource Group (ERG) — was formed in 2022 as a safe space for bankers of historically underrepresented backgrounds to meet and hold open-forum discussions. The ERG, led by a popular speaker at WBA events, Dr. Alonzo Kelly, provides a virtual space to share ideas and experiences, ask questions, and learn from others.

WBA’s Compliance Forum is the Association’s premier Wisconsin-specific program focused on presenting updates and addressing the latest hot topics in compliance. In addition to gaining in-depth information on key issues, members have the opportunity to attend several Compliance Forum events throughout the year to connect with peers, gain CLE and other compliance certifications (subject to approval), and gain access to the Forum’s Google Group.

WBA Connect is a collection of banker-only peer groups designed to keep bankers connected and help one another grow. The free benefit — currently representing bankers with interests in DEI, enterprise risk management, human resources and organizational development, marketing, retail banking, and technology and operations — provides excluive access to the related Google Group as well as the possibility to coordinate in-person networking meetings.

Not to mention the various digital resources — including, but not limited to, the Best Practices Library, Legal Call Program, and Banconomics.com — our Association works to ensure that you and your staff have the resources relevant with the work you do each day and the opportunities to get involved, stay informed, and make an impact both in your community and throughout the banking industry.

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Executive Letter: Recognizing Our Leaders

Rose Oswald PoelsBy Rose Oswald Poels

For the last several years, the Wisconsin Bankers Association (WBA) has had the honor of recognizing bankers from around the state on our Leaders in Banking Excellence Wall. In addition to demonstrating excellence in their positions, these bankers have helped shape the Wisconsin banking industry into what we know today.

With 2023 marking the fourth year of honoring prominent bank leaders, I invite you to consider nominating yourself or another Wisconsin banker who has had a significant impact on their community, their institution, or the greater banking industry.

The Wall of Excellence, which now profiles 26 Wisconsin bankers, some who were recognized posthumously, highlights the faces and stories of those individuals and families who have made strides to ensure the economic security of Wisconsinites. As the Association’s most esteemed honor, joining the WBA Leaders in Banking Excellence Wall denotes one’s excellence in banking, community service, and civic involvement. The plaques honoring these leaders are centrally located in the Engagement Center at the WBA headquarters in Madison and seen by thousands of bankers annually.

This recognition is open to all current and former bankers who exemplify the highest ethics, professionalism, and enthusiastic service. Upon selection by the Association’s Board of Directors, nominators make a $10,000 contribution to either the WBA or its public charity, the Wisconsin Bankers Foundation (WBF). A celebration recognizing the selected individuals and families will be organized for this fall and include guest speakers from the Wisconsin Department of Financial Institutions (DFI) and Congress. To nominate an individual or family for this prestigious honor, please complete the form by May 12 or contact me to learn more.

Generations of bankers have, and will continue to, excel in their service to their bank and neighbors, and we are proud to celebrate the bank leaders in Wisconsin who have gone above and beyond in their contributions to the success of Wisconsin’s economy and communities throughout the state.

Nominate a Banker
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Lundberg and guests
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Berlin, Wis. Banker Honored as Banker of the Year

Fortifi Bank President and CEO Greg Lundberg

Greg Lundberg

The Wisconsin Bankers Association (WBA) is pleased to announce the 2022 Banker of the Year award winner: Gregory J. Lundberg, president and CEO of Fortifi Bank, headquartered in Berlin, Wis.  

Lundberg has over 30 years of banking experience, and Fortifi Bank, formerly 1st National, has been in business for more than 140 years. The bank has a mission of “Growin’ Wisconsin” — one person, one business, and one relationship at a time. 

“It is a joy to recognize Greg as the 2022 Banker of the Year,” said Rose Oswald Poels, WBA president and CEO. “In addition to his values-driven leadership of Fortifi Bank, he extends his service to his community and to the banking industry.” 

Lundberg has given over 200 hours of community service in the last 12 months. He eagerly shows up for many community events and takes part in community discussions and initiatives. He prides himself on being a “working board member” and is deeply committed to the success of The Boys & Girls Club of the Tri-County Area and Green Lake’s Town Square Community Center, for which he serves as a board member and is active on additional subcommittees, including finance, facilities management, and business development.  

Lundberg joined Fortifi Bank in 2010 after having gained experience at Citizens Bank, Johnson Bank, and Associated Bank. He currently serves on the WBA Board of Directors and has been an active member of WBA through the Building Our Leaders of Tomorrow (BOLT) Section and the Advocacy Officer Program. He earned his bachelor’s degree in finance from the University of Wisconsin-Whitewater and his MBA degree in finance from the University of Wisconsin-Madison.  

Since assuming the role of president and CEO of Fortifi Bank in 2019, Lundberg has had a tremendous impact on the overall financial performance of the bank and has led multiple efforts to improve efficiency and, ultimately, profitability. Lundberg was instrumental in raising $10 million of additional capital for the bank in late 2021, which has propelled the balance sheet growth experienced at Fortifi Bank over the last 18–24 months. The bank’s total assets increased from $509 million at the end of 2020 to $607 million as of November 30, 2022. 

Lundberg and Oswald Poels with plaque

Greg Lundberg and Rose Oswald Poels

The Wisconsin Bankers Association’s Banker of the Year award is presented to one Wisconsin banker each year. The recipient must be a Wisconsin bank CEO or president who has demonstrated outstanding service to their bank, to the continued vitality of their community, and to the banking profession. The Banker of the Year award began in 1986, and Lundberg is the 37th banker honored with this distinction. Lundberg was honored at WBA’s Bank Executives Conference in Wisconsin Dells, the largest banking event in Wisconsin, on February 9, 2023. 

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Leaders Wall 2021

Executive Letter: Join the Class of 2023

Rose Oswald PoelsBy Rose Oswald Poels

The history of Wisconsin’s banking industry is storied and expansive. Since 1892, the Wisconsin Bankers Association (WBA) has stood witness to generations of banking leaders who have made significant strides in ensuring the economic wellbeing of our communities and helping shape our industry into what we know today.

In 2020, the Association inaugurated its tradition of honoring current and former bankers who have demonstrated excellence in community service, civic involvement, and Wisconsin’s banking industry. A total of 26 prominent banking leaders have so far been commended for their commitment to our industry with a permanent plaque on display in WBA’s headquarters in Madison. The Leaders in Banking Excellence Wall is centrally located in WBA’s Engagement Center where thousands of bankers from across the state visit annually as they attend a variety of meetings and training programs.

Now in its fourth year, WBA is excited to once again recognize bankers who not only denote excellence in their positions, but exemplify the highest standards of ethics, professionalism, and enthusiastic service.

Nominations to join the WBA Leaders in Banking Excellence Class of 2023 are now being accepted through May 12. If you are interested in nominating a banking leader for this prestigious honor, please visit wisbank.com/excellence or contact me for more information on how to apply.

Bankers have also been recognized posthumously. This honor wall does require a financial contribution of $10,000 payable to either WBA or its public charity, the Wisconsin Bankers Foundation (WBF). Once the Class of 2023 has been finalized, an in-person celebration will be held at the WBA Office in early September including speakers from the Wisconsin Department of Financial Institutions (DFI) and a member of Congress.

Wisconsin’s banking history is full of many great leaders, and for the past thirty years (and counting) I have been privileged to work alongside you. This honor wall is a meaningful tribute to the individual and collective contributions many have made to our industry. Thank you for considering this invitation to nominate yourself or another to join our Class of 2023 Leaders in Banking Excellence Wall.

Nominate a Banker
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Silhouettes of Business People Working in Board Room
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Supporting WBA’s Advocacy Infrastructure, a Key to Success

By Lorenzo Cruz

With the fall elections finally behind us, the Wisconsin Bankers Association (WBA) can begin pivoting in preparation for the 2023 legislative session and another round of elections occurring this spring. The passage of a state budget that includes a $6.6B budget surplus will occupy the time of most legislators, the Governor, and state agency heads. A State Supreme Court race and a special election for the 8th State Senate District will keep the candidates busy and usher in another flood of campaign spending.

Last year, outside groups shattered the previous record and spent more than $93M on the Governor and other state races, according to the Wisconsin Democracy Campaign. The skyrocketing campaign costs and the increasing need to support pro-banking candidates requires WBA to double down on the financial equation of its advocacy infrastructure. With the start of the new year, our Association is kicking off two new initiatives — the WBA Leadership Circle and the Hall of Fame — and making changes to contribution levels for the Silver Triangle Club and Gold Triangle Club.

New Opportunities to Engage

WBA’s Leadership Circle is for major investors and passionate bankers who are committed to investing and creating a healthy future for member banks and the communities they serve. To join the Leadership Circle at the platinum level, a major investor would need to contribute $3,000 or more annually to Wisbankpac (PAC) and/or Alliance for Bankers Conduit (ABW).

To achieve Hall of Fame designation, a major investor would need an aggregate lifetime investment of $25,000 or more. Leadership Circle and Hall of Fame investors benefits could include: lapel pins, certificates, pens, online recognition, Wisconsin Banker picture recognition, Capitol Day/Conference recognition, and exclusive invitation to special events.

The personal contribution level has been increased from $500 to $1,000 for the Silver Triangle award. Individual bankers can earn the award by contributing $1,000 to any combination of the PAC, ABW, or WBA’s issue advocacy fund. Silver Triangle recipients are honored annually at WBA’s Bank Executives Conference.

To receive WBA’s Gold Triangle recognition, the total contribution amounts for banks based on assets have been increased to:

Gold Triangle is the highest level of bank fundraising recognition which can be achieved by employees contributing to the PAC or conduit or through corporate contributions to WBA’s issue advocacy fund.

Looking Ahead

As we transition into 2023, it is critical that bankers join forces with the Government Relations team to replenish the depleted coffers for the PAC, conduit, and issue funds. Growing the funds allows us to support pro-banking elected officials and provides a seat at the table for those able to positively shape and influence legislation and rules impacting the industry. WBA urges Advocacy Officers to meet with bank employees to encourage them to help us meet the year-end 2023 goal of raising $300,000 in political donations.

While WBA’s advocacy infrastructure is strong, it is important to build and expand upon it. Last year, our industry faced many legislative threats, from credit unions to credit card swipe fees. These challenges will likely return in 2023 as well as a wide range of other issues like elder fraud, taxation, banking modernization, fair access, trust code, and privacy. Our Association and its members cannot afford to be bystanders while other organized and well-financed groups push legislative solutions that are harmful to banks.

While WBA is taking a proactive lead to ensure that public policies adopted are beneficial to the industry, it is critical to enlist the help of bank leaders to expand the base by designating an Advocacy Officer if they have not already done so. Moreover, WBA’s Government Relations team calls upon all bank executives, Advocacy Officers, and bankers to step up and answer the call to support WBA’s advocacy infrastructure by joining the Leadership Circle, being a Hall of Fame member, becoming a Silver Triangle member, and achieving Gold Triangle and BIGG recognition.

Now more than ever is the time to unify behind strengthening and expanding WBA’s advocacy infrastructure. The political stakes are high, but together we can function as one united voice amplifying WBA’s priorities at the State Capitol while protecting the interests of member banks doing business in Wisconsin.

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Rose Oswald Poels accepts award from Michelle Vetterkind

Rose Oswald Poels Honored as 2022 WSAE Association Leadership Award Winner

WBA President and CEO Rose Oswald Poels has been selected as the recipient of the Wisconsin Society of Association Executives 2022 Association Leadership Award. The award was presented at the recent WSAE Summit, “Purpose + Passion = Impact,” held at The Madison Concourse Hotel and Governor’s Club. Oswald Poels was recognized at the event alongside three other outstanding association professionals:

Oswald Poels, Goeke, Michael, and Raab holding awards

From left to right: Oswald Poels, Goeke, Michael, and Raab

  • Hall of Fame Award: Kathy Raab, CAE, CNAP, Metropolitan Builders Association
  • Visionary Award: Jamie Michael, Badger Bay Management Company
  • Young Professional Award: Monica Goeke, CAE, Wisconsin Hotel and Lodging Association

The award winners exemplify WSAE’s organizational values:

  • Fostering a welcoming and inclusive community;
  • Operating with integrity by being open, honest, and transparent;
  • Promoting association management rooted in passion, a positive attitude and fun; and
  • Shaping the future by identifying industry trends and developing dynamic responses.

Oswald Poels has dedicated over 30 years to the Wisconsin Bankers Association, where she began her career with a summer internship as a law student. She returned after graduation and grew WBA’s legal department. Her commitment to operating with integrity and being an open, honest, and transparent leader earned her a series of promotions, first to oversee WBA’s education and training department. Eventually, she oversaw the member relations and communications staff as well. Oswald Poels served as senior vice president and counsel for WBA until 2011, when she was named the first female president and CEO in WBA’s more than century-long history. Oswald Poels is highly respected throughout the organization and the industry, in large part due to her open-door policy and focus on member service.

Rose Oswald Poels (right) accepts award from Michelle Vetterkind (left)

Rose Oswald Poels (right) accepts award from Michelle Vetterkind, president & CEO of the Wisconsin Broadcasters Association and WSAE past chair (left)

Oswald Poels’s passion for creating a welcoming and inclusive community is evidenced daily. From the creation of a Diversity, Equity, and Inclusion (DEI) Advisory Group of WBA members, to integrating DEI into all of WBA’s conferences, to hosting a “Diverse Voices in Banking” video series, to creating an Employee Resource Group (ERG) for bankers across the state and much more, Oswald Poels has demonstrated that DEI is not only a part of her job, but a large part of who she is as a leader. She is a trailblazer in the association profession for her work and serves on the national American Bankers Association DEI Advisory Group. Her focus on inclusivity extends to Wisconsin communities through her work on financial literacy and capability as chair of the Wisconsin Bankers Foundation and an active partner of Bank On Greater Milwaukee, Wisconsin Saves, and BankWork$.

Oswald Poels’s remarkable work ethic is matched by her ability to stay positive and have fun. She holds a number of successful staff fundraising initiatives each year. The activities often have a theme and activities that bring staff together in meaningful ways to support advocacy efforts and nonprofit organizations in the local community.

WBA staff with Oswald Poels

WBA staff celebrate Oswald Poels at the 2022 WSAE Summit

In order to retain and recruit talented staff and to optimize the member experience at the WBA headquarters, Oswald Poels led a major building renovation that completed in 2020. The new office includes modern workspaces and a state-of-the-art Engagement Center for member trainings and meetings. The headquarters provides an ideal space for people to come together and will continue to do so for years to come.

Oswald Poels leads by example, motivating staff and members to get involved, bring their best ideas to the table, and achieve outstanding results. By engaging over 110 member advocacy officers, a dozen committees and sections, and six member peer groups — on top of hosting over 5,000 members annually at WBA training events — Oswald Poels inspires the kind of dynamic member engagement that is a model for highly relevant, modern trade associations.

Oswald Poels and WBA would like to thank WSAE for the recognition and for its valued support of association professionals across the state. Congratulations to all of the 2022 WSAE award winners!Award recipient banners

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Green paper airplane leading group of white paper airplanes
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Celebrating a Decade of Building Banking Leaders

WBA’s Building Our Leaders of Tomorrow (BOLT)

By Cassandra Krause

If one thing is certain about young professionals in Wisconsin’s banking industry, it is that they are ambitious. Their careers mean more to them than just a paycheck, and they’re looking for ways to grow and make meaningful contributions. Nearly ten years ago, the Building Our Leaders of Tomorrow (BOLT) Section was created to tap into the potential of emerging leaders in banking across the state.

Julie Redfern was one of the inaugural BOLT Section Board members in 2013 and has advanced in her career to executive vice president, chief operations officer at Monona Bank. “Fostering growth and leadership skills in our industry was a motivational factor for joining the BOLT initiative in its infancy stages,” said Redfern. “We had a gap in our industry, and I think BOLT is now a great tool to offset that gap for bank CEOs looking to develop bench strength with future leaders at their community banks.”

Motivations for joining BOLT vary from banker to banker. Some are seeking opportunities to learn the skills needed to be a respected, contributing community banking officer able to handle increasing responsibility. Others join because of the access to a tremendous network of Wisconsin bankers with a vast back- ground of knowledge and experience who are willing to share it in a non-competitive environment. Still others may be looking to become more engaged in legislative, regulatory, and public affairs advocacy.

BOLT was launched to ensure ongoing success for community banks by focusing on talent development and providing networking opportunities for the next generation of community bank leaders to grow and develop the necessary skills to be effective leaders.

“Nearly a decade later, talent recruitment and retention, as well as succession planning, continue to be top concerns for community banks,” said Daryll Lund, WBA executive vice president and chief of staff. “We have grown to have over 500 BOLT Section members representing over 135 banks.” It is free for WBA members to join the BOLT section, so many banks take advantage of the opportunity to sign up multiple employees.

The Deloitte Global 2022 Gen Z and Millennial Survey found that approximately 40% of Gen Zers and 24% of millennials would like to leave their jobs within two years, and about a third would quit without another job lined up. While those numbers may be startling, a recent LinkedIn Workforce Confidence Index gives some insight into the priorities of job seekers.

Graph of young professionals' reasons for seeking new employer

As the chart above shows, a career path that aligns with the employee’s interests or values (80%) and more opportunities to learn/practice new skills or expertise (76%) are equally important to — or even more important than — better compensation or benefits (76%) for Gen Zers. Younger employees’ desire to pursue a new industry or job function and interest in moving up or increasing responsibilities underscore the importance of offering professional development opportunities.

A major draw to the BOLT Section is the access to the biannual BOLT Leadership Summits. Attendees often talk about the “spark” that’s ignited in them through the Summit programming and networking. Dan Ravenscroft was the inaugural BOLT Section Board chair and has since become president and CEO of Royal Bank, Elroy and continues his service to the industry on the WBA Board of Directors. “BOLT is designed to provide bankers with the additional knowledge, skills, and tools that they need to take their careers to the next level,” said Ravenscroft. “The connections, experiences, and relationships built through participation in the interactive BOLT Leadership Summits have proven invaluable in my personal career development.”

Lori Kalscheuer, WBA director – education, serves as the staff liaison to the BOLT Section Board and heads up the planning for the Summits. “The energy at the BOLT Summits is always very high, and the participants are eager to make the most of their experience,” said Kalscheuer. “Along with new skills and ideas, they bring back a lot of enthusiasm to their banks.” Kalscheuer emphasizes that leadership skills are applicable to any employee at the bank, regardless of job function, age, or experience level. She encourages any banker who wants to build their leadership skills to get involved with BOLT.

Now almost a decade in, the BOLT program sees continued engagement of longtime participants as well as many referrals for fellow bankers to get involved. Jennifer Sobotta, vice president and marketing director at Forward Bank, Marshfield, and current BOLT Section Board chair, views BOLT as an important benefit of WBA membership. “Joining the BOLT Section Board gave me an opportunity to stay connected with industry peers and the WBA,” explains Sobotta. “Being part of this group fits beautifully with the leadership initiatives we have going on at Forward Bank and has allowed me to identify and send our up-and-coming leaders on to fine tune their skills.”

As Loni Meiborg, senior vice president and director of organizational development, Fortifi Bank, Berlin rounds out her time on the BOLT Section Board as past chair, she has sought out a new opportunity to stay involved and continue to grow her career by serving on the WBA Marketing Committee. Her testimonial speaks for itself:

Without BOLT, I can honestly say I wouldn’t be where I am today in my career. Early on, the Summits allowed me to meet influential people who shared their knowledge and experience to help me grow. Once joining the BOLT Section Board, I was inspired by each member’s passion and commitment to fostering success among bankers and the industry overall. And now as past chair, I reflect on all the folks I’ve met and the speakers I’ve heard along the way, which have left their indelible mark on how I lead, how I think, and how I feel about banking. Thank you to the WBA leadership and team for focusing on, and knowing the importance of, Building Our Leaders of Tomorrow.

To learn more about BOLT, visit wisbank.com/BOLT.

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Women in Banking
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Paving the Way for Women in Banking

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questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

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