ABA Banking Journal - May 2013 - (Page 16)

ABA community banking Revenue Enhancement Finding lost revenue deep “in the weeds” “W e call it ‘tribal law,’” says Karen Makowski, explaining how practices, procedures, and even pricing become embedded in a bank for years without anyone questioning it, reviewing it, or revising it. Every bank has its share of tribal law. If you don’t agree, you either work at a de novo bank, or haven’t looked hard enough. It’s there. Makowski, executive vice-president and chief administrative officer and risk officer at $1.2 billion-assets Chemung Financial Corp., Elmira, N.Y., gives an example that comes down to a wrinkled, yellowed piece of 16 | ABA BANKING JOURNAL | May 2013 paper. This slip contained four rules for ACH processing that someone in deposit operations followed for resubmitted items that hadn’t been honored the first time. It was such a routine matter that no one had asked about the four rules on that slip for years. Who has the time to look at such minutiae? The employee’s predecessor had passed the slip on long ago, with the instruction that it was “the way it is done.” Tribal law. The problem was that this bit of tribal law was costing the bank money. No, it wasn’t a hemorrhage pHOTO: ALpHASpIRIT/ SHUTTERSTOCk Revenue analysis will help Chemung Financial dig out more than a million—and it won’t be just a one-time find BY STEVE COCHEO, EXECUTIVE EDITOR & DIGITAL CONTENT MANAGER

Table of Contents for the Digital Edition of ABA Banking Journal - May 2013

ABA Banking Journal - May 2013
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
Picture This
ABA Community Banking
Pass the Aspirin
Tech Topics
Looking for leaders
Top-performing mid-size banks
New world of appraisals
Compliance Clinic
Compliance Inbox
ABA At Your Service
First Person

ABA Banking Journal - May 2013

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