June 17, 2024

April AAPI Executive Summary - June 17, 2024

The next Women in the Model Risk Management and Development meeting will be on June 17at 3pm ET. Register 

The next DEI Open Forum will be on May 14 at 3pm ET. Register

The next Black Bankers networking meeting will be on May 23 at 2pm ET. Register

The next Black Bankers ERG meeting will be on June 18 at 3pm ET. Register 

The next AAPI Bankers general meeting will be on August 7 at 3pm ET. All meetings arevirtual. Register 

A great way to build this strong network of women and allies is to attend the Women LeadSymposium on July 17. This half-day, virtual experience is a meaningful opportunity for careeradvancement through mentorship and one-of-a-kind executive education. The link to moreinformation is in the chat. Register

Women Lead Workshops help bankers develop critical leadership skills to propel their careersand organizations to the next level. The next workshop discusses How to be an Inclusive Ally.Whether you are an emerging leader or a seasoned leader looking to fine-tune your skills, joinus to discuss different leadership competencies to grow your skills. You can learn more byclicking the link in the chat. Registration is free. Register

The ABA Diversity, Equity, and Inclusion Awards honor and recognize ABA member banks fortheir internal-facing programs, initiatives, and activities focused on improving diversity, equity,and inclusion in their workforces. This year’s award nomination period is open until May 31. Formore information click here.

If you have not done so already, please create an ABA.com account. Creating an accountallows you access to all our executive summaries, resources, and latest news. We will also beshifting to an internal group website in the future, and a registered account will give you theability to converse with other ERG members. It is completely free and should take no longerthan 2 minutes to sign up. The link to create an account is in the chat. Create an Account

Opening Remarks

The executive sponsors of the group received a warm welcome from Aaron Tsang, the chair ofthe AAPI ERG, as the meeting opened. Executive Sponsors, Dave Joves, the President of TASIBank, Heather Nelson, President of Spring Bank, and Gordon Fellows, the President of theMississippi Bankers Association, were all in attendance.

The meeting started with an icebreaker poll so members could better understand one another.The bankers cited family values and relationships as the most important aspect of their AAPIheritage of which they are proud, followed by cultural traditions and customs. Lack ofrepresentation in leadership roles was the biggest challenge identified by bankers. Aaronreminded everyone that the group has created a lunar new year celebration video featuringWarren Hrung of ABA and Gordon Fellows of the Mississippi Bankers Association on the ABAERG homepage. Register for the next meeting on August 7 on the homepage.

Gauri Sharma Introduction and Presentation

Patricia Johnston, the chair of the Education and Community subcommittee introduced thespeaker for the meeting, Gauri Sharma. Gauri Sharma is the Vice President of ABAProfessional Certifications, with strategic responsibility for the six certifications that ABA offers.Gauri and her team work closely with volunteer banker Advisory Boards to develop, administer,and evaluate certification exams to nearly 2,000 bankers throughout the year. ABA has certified13,600 banking professionals in a certification program, and the numbers are growing.

ABA’s most popular certification is the CRCM or Certified Regulatory Compliance Manager.There are currently 6,126 active CRCMs. This is the most recognized compliance credential inthe industry and is highly desired for bankers in compliance roles.

ABA’s newest professional certification is the Certified Enterprise Risk Professional (CERP).Created in 2018, this is the industry's first-ever certification focused on enterprise riskmanagement. Over the last four years, it has averaged 24% year-over-year growth. Thecertification focused on financial crimes is the Certified AML & Fraud Professional (CAFP). Thisis the only certification that spotlights BSA/AML, fraud, and cyber-enabled crimes. While manyother certifications target international banking crimes, this certification focuses specifically onUS banks and US banking laws and regulations.

ABA’s certifications offer professional validation, industry recognition, and opportunities forcareer advancement. Once a banker is certified, they must submit continuing education creditsevery 3 years. ABA hosts a multitude of opportunities to receive these credits. For moreinformation on beginning your journey as a certified professional please visit here. Do nothesitate to reach out to [email protected] for more questions.

Q&A

Q: Why do you advocate strongly for certifications?

A: Gauri advocates for certifications because she has observed how frequently it placesindividuals on equal footing with others in the same industry. The certification gives bankerscredibility in a competitive environment.

Q: What advice would you offer someone not fitting under a certification but seeking to enhancecredentials?

A: If unsure about interests, bankers should research and explore ABA's resources. ABA offersnumerous courses that may be of interest. You can find many of the courses here. Additionally,reaching out to Gauri at [email protected] for further discussion on various possibilities isencouraged.

Q: How can someone persuade their bank to cover certification costs?

A: Begin by explaining the value of obtaining credentials to bank leaders and sharing successstories to illustrate the impact. Gauri finds it easier than expected to convince leadership of thenecessity for the credential. For those employed by MDIs, Minbanc offers funds for trainingreimbursement. All ABA training and conference registrations qualify for Minbanc reimbursement.

Q: Can you discuss how certification facilitates the path to leadership?

A: Holding the CRCM designation distinguishes individuals and is highly respected by regulatorsin the banking industry, which can greatly benefit bankers in their career progression.Additionally, completion of a graduate school of banking program, such as the GSB at LSU'snew Chartered Bank Professional Program, can further enhance one's leadership journey.

Q: Would a study cohort be beneficial? How might the ERG assist beyond this introduction?

A: ABA currently offers study cohorts for individuals enrolled in their online prep courses,facilitating interaction within a larger group and among different study groups. If there is arequest from the ERG to establish a study cohort, ABA would be happy to discuss and explorepossibilities.

Q: Where can one find more information about these certifications?

A: More information about ABA's certifications can be found here.

Q: Do certifications impact compensation for those not interested in leadership?

A: Based on Gauri's experiences, holding one of these professional certifications often leads topromotions. While salary data is not available for privacy reasons, certifications are generallybelieved to be beneficial.

Q: Are there unique opportunities for Asian American bankers in certification areas beyond theCTFA scenario?

A: Certifications are applicable to bankers from any background. Gauri notes that certificationscan reshape expectations when communicating with non-bankers and challenge stereotypesassociated with bankers.

Q: Is there a risk of Artificial Intelligence (AI) affecting certification demand?

A: The impact of AI on certification demand is currently being examined. While someorganizations can utilize AI for exam creation, concerns remain regarding AI bias and the valueof those programs.

Q: Does ABA have any upcoming certifications to anticipate?

A: In the coming years, ABA plans to introduce diversity, equity, and inclusion credentials.

ERG Leader Spotlight

Hoi Lo, the vice-chair of the Asian American Bankers ERG, asked members to share anyhighlights or pertinent information with the group. One member shared that there will be a newexhibit called Pictures of Belonging featuring Miki Hayakawa, Hisako Hibi, and Miné Okubo. Thetraveling exhibit Is currently housed at the Utah Fine Arts Museum in Salt Lake City, will move tothe Smithsonian American Art Museum in DC from November 15, 2024- August 17, 2025, andwill finish at the Japanese American National Museum in Los Angeles. One banker noted thatKeisei Tominaga a Japanese player who plays for the Nebraska Cornhuskers won the 3-pointshootout competition.

Additional Resources Shared During the Meeting

3 Ways Your Bank Can Support Asian-American & Pacific Islander Communities