Pub. 2 2014 Issue 4

fall 2014 3 6 14 CHAIRMAN Kelvin L.Anderson President & CEO, Optum Bank Salt Lake City, UT VICE CHAIRMAN JillTaylor District President, KeyBank Salt Lake City, UT 2NDVICE CHAIRMAN Craig A.White President & CEO, Utah Independent Bank Beaver, UT IMMEDIATE PAST CHAIRMAN Anthony J. Hall President & CEO, Lewiston State Bank Lewiston, UT PRESIDENT Howard M. Headlee President, Utah Bankers Association Salt Lake City, UT COMMUNITY BANKADVISORY CHAIRMAN Douglas DeFries President & CEO, Bank of Utah Ogden, UT INDUSTRIAL BANKADVISORY CHAIRMAN Ron Ostler President, Comenity Capital Bank Salt Lake City, UT REGIONAL BANKADVISORY CHAIRMAN Craig Zollinger Utah President & CEO, JPMorgan Chase Salt Lake City, UT Paul Andersen President & CEO, GunnisonValley Bank Gunnison, UT A. Scott Anderson President & CEO, Zions Bank Salt Lake City, UT Brad R. Baldwin President & CEO, First Utah Bank Salt Lake City, UT Lee A. Carter President & Chief Operating Officer, UBS Bank USA Salt Lake City, UT Randall Chesler President, CIT Bank Salt Lake City, UT Robert Garinger President & CEO,American Express Centurion Bank NewYork City, NY Lewis Goodwin President & CEO, Green Dot Bank Provo, UT Richard Lake President, Merrick Bank South Jordan, UT Damon G. Miller Utah Market President, U.S. Bank Salt Lake City, UT Deborah (Dee) O’Donnell SeniorVice President, President, UtahWells Fargo Salt Lake City, UT Ron Ostler President, Comenity Capital Bank Salt Lake City, UT MarkW. Packard Senior ExecutiveVice President, Central Bank Springville, UT Katie Spratling ExecutiveVice President, Holladay Bank &Trust Salt Lake City, UT Joe Stroud General Counsel, GE Capital Bank Salt Lake City, UT UBA Board of Directors 2014/2015 BOARD MEMBERS 4 One Election Can Make a Difference It’s amazing the difference one election can make. I have been a strong propo- nent of political engagement, but I must admit, this election exceeded even my expectations of what could be possible. 5 UBA Executive Development Graduates Graduates of the second class of the UBA Executive Development program were recently recognized at the UBA 7th Annual Leadership Conference in Salt Lake City. 6 Washington Update: It’s Time to Reform the Farm Credit System In a recent radio interview in San Antonio, Texas, Michael Mauldin – regional pres- ident of First Financial Bank, Hereford, Texas – described how the Farm Credit System has used its government guaran- tee to finance loans outside of its mission. By Frank Keating, President and CEO, American Bankers Association 8 Cure for the Common Culture: How to Build a Healthy Risk Culture The challenge of building a corporate culture that prioritizes risk management, ethical behavior, and smart decision-mak- ing continues to weigh on banks. By Ryan Dent, Partner, PwC US 10 Teach Children to Save 11 “Keeping Up with the Jetsons” Weighing the Risks and Opportunities Created by Trends in Technology Mobile banking, online account opening, customer service via social media, mobile wallets… By Amber Seitz 14 “Apple Pay” Raises Compliance and Security Questions for Banks On October 20, 2014, Apple released “Apple Pay”, a way for consumers to securely pay with their smartphones. By Pamela Stockwell and Dimitris Rousseas 16 The Tech-Savvy Board: Helping Directors Understand Technology Director responsibility for IT risk and strat- egy has become more consequential as customers migrate to electronic delivery channels. By Jack Vonder Heide 18 Bank Kudos 23 Annual UBA Conferences 24 Bankers on the Move 28 UBA Associate Members