chair’s platform The Important Role the Association Plays in Our Industry PATRICK L. RYAN, CHAIR, PRESIDENT/CEO, FIRST BANK It is with great honor and enthusiasm that I assume the role of Chair of the New Jersey Bankers Association. I’d like to extend my thanks to Steven Klein for his work as chair, and Michael Affuso and the entire management team for their great work leading our organization. As we navigate the ever-evolving landscape of the banking industry, I am proud to do my part to help lead our association and industry toward a future of growth, innovation, and resilience. The banking sector has undergone significant transformations in recent years. Technological advancements, changing customer expectations, and regulatory shifts have reshaped the way we operate. As we embrace these changes, our mission remains steadfast: to serve our communities, foster economic development, and promote financial stability. NJBankers plays a crucial role in advocating for New Jersey banking institutions, taking a multi-pronged approach. Our advocacy efforts span government relations, public affairs, and impact litigation. ɨ Government Relations: ɦ Members of our team, led by Brittany Wheeler, actively engage in Trenton and Washington, working to make sure our voices get heard. ɦ Through hard-fought legal challenges, we now have the ability to provide financial support for key industry causes. ɨ Public Affairs: ɦ NJBankers aims to increase press coverage, emphasizing the industry’s strength and resilience. In fact, over the past twelve months, we generated 52 unique press hits, more than double what was generated in the prior period. ɦ This media coverage is further enhanced by the great work we do with various non-profit partners throughout the state, including Rutgers University, the Community FoodBank of NJ, the NJ Small Business Development Centers, and numerous veterans organizations (among many others). ɨ Impact litigation ɦ NJBankers is working hard to even the playing field by selectively partnering with organizations that are pursuing legal challenges to rulings or regulations that seem excessive or unfair. ɦ In fact, to ensure focus and support in this important area, the Board of Directors has specifically allocated funds in the current fiscal budget to ensure we can effectively pursue this strategy. This comprehensive approach underscores NJBankers’ commitment to their members. Beyond our important advocacy work, our organization will continue to emphasize professional development and networking, subsidiary organizations and third-party partnerships, and organizational efficiencies. ɨ Professional Development: ɦ Events, large and small, continue to be a hallmark of our organization. By running great events, and gathering member feedback, we will ensure we provide great support in the areas of training, development, and networking. ɨ Subsidiaries and Third-Party Partnerships: ɦ As the banking industry continues to consolidate, the nature of banking associations will change. We are actively working across various industries and geographies to make sure our organization remains effective and relevant. ɦ Our subsidiary entities, Bankers Cooperative Group and NJBankers Business Services, provide great support to our members and associate members, and they help build the financial strength of our organization. ɨ Administrative and Organizational Efficiencies: ɦ We plan to commence a strategic planning process in the fall. It has been some time since we last updated our strategic plan, and the changing industry dynamics makes this a perfect time. We will be looking for member volunteers to help with this exciting project, so please stay tuned or reach out to me or Mike to volunteer. ɦ We are exploring our space needs to make sure we have the right amount of space, in the right locations at the appropriate price. In closing, I am excited about the opportunities that lie ahead. Our association has a rich history, and we are committed to building upon that legacy. I invite each of you to actively engage, share your insights, and contribute to our collective success. Thank you for your trust and support. TECHNOLOGICAL ADVANCEMENTS, CHANGING CUSTOMER EXPECTATIONS, AND REGULATORY SHIFTS HAVE RESHAPED THE WAY WE OPERATE. AS WE EMBRACE THESE CHANGES, OUR MISSION REMAINS STEADFAST: TO SERVE OUR COMMUNITIES, FOSTER ECONOMIC DEVELOPMENT, AND PROMOTE FINANCIAL STABILITY. 5 chair’s platform
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