For Immediate Release
November 9, 2015
ABA Media Contact: Mike Townsend
(202) 663-5471
Email: mtownsend@aba.com
Follow us on Twitter: @ABABankers

ABA Announces New Succession Planning Guide for Banks

WASHINGTON — The American Bankers Association today announced the release of “Succession Planning for Banks,” a new comprehensive guide featuring practical steps and resources for developing and implementing a customized bank succession plan.  The only resource of its kind exclusively focused on the unique challenges that banks face, the guide identifies why a succession plan is critical from business and regulatory perspectives and provides both strategic and tactical direction. 
 
“As baby boomers retire in record numbers, it has become increasingly difficult for banks to replace those who have guided them through some of the industry’s most challenging years,” said Jim Edrington, executive vice president of ABA's professional development group. “It’s critical for senior management at banks to address this risk factor by regularly evaluating succession plans and grooming future leaders. This guide will help banks navigate the steps necessary to develop top talent and position their strategy for long-term success.”   
 
Through scenarios and customizable materials, the guide helps human resources and senior management identify potential internal candidates to fill key leadership positions and pinpoint the development opportunities that will help those candidates succeed.  The guide includes sections uniquely addressing the planning processes for CEO and C-Suite succession, manager-level succession and board succession, and provides pointers on documenting and monitoring succession plans.
 
Customizable charts, printable resources and communication tools include:
  • A point-based questionnaire to assess organizational readiness for succession planning;
  • A budget worksheet to help plan the cost of planning, recruiting, assessment and training;
  • A tool to assess candidates based on past performance and future potential; and
  • A profile development guide with factors to consider around a candidate’s competencies, skills, and experience
Ideal for CEOs, human resources directors and other senior-level staff, the guide is priced at $465 for ABA members and $585 for non-members. For more information or to purchase “Succession Planning for Banks,” click here.  
 
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
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