Glatt Consulting founder and strategy consultant Tom Glatt, Jr. was quoted in a recent CUNA CFO Council white paper authored by Karen Bankston. The white paper, titled “Financial Forecasting and Analysis in Turbulent Times,” identifies the issues credit unions face in producing good forecasts in volatile times and highlights several strategies/best practices.
Here is the white paper’s executive summary:
Continued uncertainty in the financial services industry makes the need for accurate, insightful, and agile forecasting and planning greater than ever. However, in what seems like an ever- changing environment, good forecasting can be challenging. Credit union CFOs should be especially vigilant given a hypercompetitive marketplace and the growing regulatory burden in the industry.
This white paper identifies the issues credit unions face in producing good forecasts in volatile times and highlights several strategies/best practices. CFOs and industry consultants contributing to this virtual financial roundtable discussion share how to remain agile, be more efficient, cope with all the competitive and regulatory changes in the industry and focus on what the numbers mean rather than just what the numbers are. Specifically, this white paper presents:
- A strategy for laying the proper foundations for forecasting and analysis;
- The need to forecast a likely range of possible futures;
- Strategies to develop accurate and useful forecasts that address key financial risks, organizational performance and profitability, pricing, competitive analysis, and cost controls;
- The impact of new regulatory requirements and guidance; and
- The role of the CFO as a strategic leader.
The white paper can be purchased via the CUNA CFO Council website at: