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Ken Fick

CFO/FP&A Advisor

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Which of these teams in your organization has the largest budget?

People & Leadership Strategy & Architecture Financial Management

Technology

Marketing

Operations

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10.8k views4 Upvotes1 Comment

What's the most important friction in deploying Robotic Process Automation (RPA) in your company?

People & Leadership Applications & Platforms Engineering+14 more

Cost of RPA products

Lack of developers who can code RPA applications

Amount of customization needed to automate business processes

Lack of RPA code maintenance resources

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11.7k views5 Upvotes8 Comments

What is your prediction on a recession starting globally? We believe it will be there for 6-18 months time frame.

Financial Management Peer Insights

Mar 2023

Q2 - 2023

Q3 - 2023

Q4 - 2023

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39.4k views23 Upvotes6 Comments

Will ChatGPT overtake Google as the default search engine in coming 12mos?

Yes

Other

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8.7k views3 Upvotes4 Comments

Why do you think finance is behind the other departments in the business when it comes to investing in and using the latest technology?

Financial Management Finance Disruptive & Emerging Technologies

Due to need for financial statements to be accurate

Due to lack of investment in Finance department

Due to lack of skillset among Finance

Due to risk adverse nature of finance professionals

Due to overdependence on spreadsheets

Other (Please Comment)

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1.1k views4 Upvotes7 Comments

What do you think of the $1.3 billion GDPR fine for Meta’s data sharing practices between EU-U.S.?

Data Protection & Encryption Data Privacy Data & Analytics+1 more

Excessive for the offense

Justified

Negligible

The amount doesn’t really matter, regulators are just sending a message

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1.5k views

In your experience, is it important to have written SLAs with data-as-a-service providers to ensure quality, availability and responsiveness?

Data Management Process Management Relationship Management

Yes, written SLAs are essential

Maybe, but SLAs can be more casual/verbal

No, written SLAs are not essential

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1k views1 Upvote1 Comment

What's your attitude during a "slow season" or down time? Especially when you are reliant on external parties that are mostly offline.

Accelerate my work, do more, in order to drive same results

Change things up, find new tactics, in order to drive same results

Think strategically, prepare or test, for when things are busier again

Follow suit, take time off, rest and recharge myself

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37.1k views7 Upvotes2 Comments

"My finance team doesn't just deliver data, they deliver insights."

Dashboards & Visualization Finance

Strongly agree

Agree

Neutral

Disagree

Strongly disagree

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95 views2 Upvotes1 Comment

On average, how long does it take for a new team member in your department to become fully productive?

People & Leadership

3 months

6 months

9 months

+12 months

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396 views

I have recently been asked to develop a compliance program for the new CFPB 1071 rule which requires every creditor that originates 100 or more covered transactions to small businesses in the preceding years to report to the CFPB on a series of metrics. Has anyone started doing this yet? If so, how are you going about it? Are you hiring external consultants or leveraging internal resources? Are you buying new software or adding new modules to existing software to ensure compliance?

Peer Insights Governance, Risk & Compliance Risk Management+1 more

Ken FickCFO/FP&A Advisor7 months ago

As a credit union, we have been and continue to gear up for this. It helps that we already have a system for HMDA. Contact me if you would like to be put in touch with our person primarily responsible.

4.7k views5 Upvotes1 Comment

Does your team get planning paralysis during the budget process? How do you snap out of it?

Finance Financial Management

Ken FickCFO/FP&A Advisora year ago

After the 1st budget iteration, I have seen senior management continue to "sharpen the pencil" to the point of ad nauseam pushing the final budget into Q1 or even Q2. This is often the result of pushback or negotiation ...read more

What is the best practice for validating the realized ROI of previously approved CAPEX, specifically with respect to IT projects?

Project Management Financial Management

Ken FickCFO/FP&A Advisora year ago

In organizations that I have worked in, we instituted a 12-month review process. 12-months after the CAPEX project was brought into service, a review of the business case that got it approved is performed. This includes ...read more

How would you describe your job to someone who doesn’t work in finance?

Finance

Ken FickCFO/FP&A Advisora year ago

I would describe my job as a strategic partner to the President, the Executive Team, and the business units. I also engage with the board of trustees on all matters financial, compliance as well as on business strategy matters. ...read more

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