BBVA Compass March Recap: Workplace equality, risk management and financial education
- Workplace Equality: BBVA Compass earns a perfect score of 100 percent on the Human Rights Campaign Foundation’s 2019 Corporate Equality Index.
- Risk Management: BBVA Compass joins 11 other financial institutions to advance best practices for managing third-party risk in the financial services industry.
- Financial Education: On the heels of a successful four-month pilot, BBVA Compass launches its full financial education program for 2019
In March, the Human Rights Campaign Foundation released its 18th annual scorecard on LGBTQ workplace equality, and for the second consecutive year, BBVA Compass earned a perfect score of 100 percent.
Other top news for the month includes the bank’s commitment to transforming and improving third-party risk management in financial services. BBVA Compass is among 12 leading regional and digital financial institutions to join together as investors and members in KY3P®, a company dedicated to working with the financial industry to standardize best practices for managing third-party risk.
Also included in March’s roundup of articles is BBVA Compass’ announcement about the launch of its full financial education program, which aims to reach a total of 10,000 low- to moderate-income adults in its first year.
Presented below are articles and news from March 2019 that were posted on the bank’s online newsroom, global media platform, bbva.com, financial education blog, MoneyFit and wealth management blog, Wealth Strategies.
Corporate News
BBVA Compass earns 100 percent on Human Rights Campaign Foundation’s 18th Annual Scorecard on LGBTQ Workplace Equality
BBVA Compass is among major U.S. businesses that are leading in LGBTQ workplace equality and inclusion, receiving a perfect score in Human Rights Campaign Foundation’s 2019 Corporate Equality Index (CEI) for the second consecutive year. For satisfying all of the CEI’s criteria, the bank earns designation as Best Place to Work for LGBTQ Equality.
The bank joins the ranks of over 570 major U.S. businesses that also earned top marks this year on Human Right Campaign Foundation's Corporate Equality Index. BBVA Compass is also among those companies that have joined HRC’s Business Coalition in support of the Equality Act.
Twelve Regional Banks Invest in KY3P to Advance Best Practices for Managing Third-Party Risk
BBVA Compass is among a group of 12 leading regional and digital financial institutions joining together to advance the management and oversight of third-party risk in the financial-services industry.
BBVA Compass among U.S. banks included in Forbes’ inaugural World’s Best Banks list
BBVA Compass has been recognized on Forbes’ inaugural World’s Best Banks list, earning a place among 60 ranked U.S. banks out of approximately 6,000 competitors across the country. To be considered for placement on the rankings, a company’s quality of digital services and financial advisement was taken into account, as well as its overall customer endorsement
Stephen Flynn named one of the Most Influential Lenders by the Los Angeles Business Journal
The outlet’s annual section, published since 2015, recognizes banking professionals in the area for their top lending services and client advisement. BBVA Compass Los Angeles CEO Stephen Flynn’s inclusion comes after only two years of holding his current position and leading the bank’s local commercial banking team.
BBVA Compass bolsters California presence by naming James Ligman as its Orange County City President
BBVA Compass names banking industry veteran James Ligman as its Orange County City President, bolstering the bank’s California presence by promoting from within. Ligman has been in the industry for more than two decades, and his most recent role with BBVA Compass was as the Orange County area’s commercial banking manager.
BBVA Compass makes list of Best Second Chance Checking Accounts in the U.S. by GOBankingRates
GoBankingRates names the BBVA Compass Easy Checking product as one of the top in the nation due to its complimentary Visa debit card that’s set up with BBVA Wallet.The article also highlights the product’s functions such as unlimited check-writing privileges, free withdrawal from BBVA Compass ATM locations and transaction alerts from BBVA Wallet.
Responsible Business
BBVA Compass commits to providing financial education to 10,000 adults in 2019
After a four-month pilot last year, BBVA Compass officially launches its full financial education program for 2019. The program is designed to provide financial education workshops to low- to moderate-income adults through partnerships with local nonprofit organizations from across the bank's footprint.
Small business and housing investments help build strong communities
When banks invest in small businesses and affordable housing efforts, they help build strong communities. BBVA Compass originated community development investments totaling $900 million between 2015 and 2017, and plans to continue the momentum.
Community giving and employee involvement at the heart of CRA performance
Earning an outstanding rating for CRA performance is a rare accomplishment — fewer than 10 percent of banks earn that rating. For BBVA Compass, it's a clear reflection of the cultural shift that has taken place within the organization over the past three years.
Closing the gender leadership gap
Women are not new to the banking business — a recent study reports that women make up more than half the workforce of financial institutions in North America. However, that number dwindles to less than 30 percent when assessing senior-level executives. Director of Talent Acquisition and Development Sonia Storer pointed out that through its workplace diversity and inclusion efforts, BBVA Compass has made significant progress in growing that number.
Corporate support is important to arts and culture
Access to the arts can play a major role in a city's overall cultural and economic health. Because most organizations that offer that access are typically non-profit, they must rely heavily on the support and collaboration of corporate donors who share their vision. BBVA Compass' $8 million contribution to the new Glassell School at the Museum of Fine Arts, Houston is its largest charitable donation to date and reflects the bank's commitment to the arts.
BBVA Group CEO Onur Genç stands at the top of the BBVA Compass Roof Garden at the Museum of Fine Art, Houston's new Glassell School of Art. "We believe it’s incumbent upon all of us to help people find ways to connect, independent of political or social lines, so that we keep our cities – in this case Houston – moving forward. Art, and the appreciation for it, does that," said Genç.
Digital Transformation
Digital Engagement Matters: The Mobile App
Digital engagement matters, and the mobile app has become part of the omnichannel banking experience. Read how BBVA Compass has proactively integrated mobile engagement into the branch to enhance the banking experience for its customers.
Digital Engagement Matters: Track, Verify, Personalize with BBVA Compass' Mobile Engagement Tool, BankerDemo
BBVA Compass branch bankers teach their customers how mobile helps them with 21st century banking. With the bank's proprietary mobile engagement tool, Mobile BankerDemo, bankers can track and verify their demonstrations and leverage the same data to anticipate what functionality the customer might want to learn next.
In Their Own Words: Branches & Mobile Engagement
In the drive to using digital as a means to enhance customer experience, BBVA Compass branches have become integral to helping customers understand all the tools available that help them manage their finances. In this article, three Branch Retail Executives share how they are enhancing customers' understanding of the mobile app using the bank's training curriculum, Blue Maverick.
The value of a branch: 3 people, 3 perspectives
Even in a digital era, branches continue to have value. BBVA Compass' 644 branch network plays a key role when it comes to complementing its digital efforts with human interaction. Representatives from three key areas of the bank share their perspective.
Retail branches are an increasingly important part of the BBVA Compass' digital transformation. The bank’s retail network is supporting a “universal banker approach” with innovative technologies, including its proprietary customer service application Client Vista. The application provides a 360 degree view of client relationships and is used by bankers via tablets to mobilize, streamline and personalize the banking experience for customers from inside or outside the branch.
Small Business
BBVA Compass sets dates for Momentum informational sessions
Throughout March and the beginning of April, BBVA Compass held informational sessions in several markets throughout its footprint for entrepreneurs interested in BBVA Momentum, the bank's five-month accelerator program designed to help social enterprises maximize their impact. In its third year in the U.S., the program is accepting up to 35 participants with the opportunity for three to garner funding.
Business Unit Spotlight
Q&A with Hector Chacon: We are anticipating client needs as the industry evolves
Recently appointed BBVA Compass Global Wealth Executive Hector Chacon is taking his team to the next level and prioritizing the client experience. In this Q&A, read how Chacon is leading a team focused on helping clients make sound investments.
Branch Spotlight
Licensed bankers, coming to a branch near you
BBVA Compass remains one of the only banks with a licensed banker program, where it offers sponsor bankers the opportunity to receive life, health and insurance licenses, as well as their Series 6 and 63 securities licenses.
Resource Articles
Strategies to Combat Rising Consumer Prices
The strength of the economy, a tight labor market, and the impact of trade conflicts has prompted many large U.S. companies to start increasing prices. If you're one of the millions of Americans feeling the downside of an up economy, there are strategies to help you combat rising prices.
Should you buy a home in 2019?
Last year the answer probably would have been "no," as housing prices were rising sharply, driven by low inventory and high demand. In fact, the median home value in the U.S. increased 7.6 percent from December 2017 to December 2018, whereas the historical average annual increase in home values range between three and five percent. But that was 2018. What about 2019? In this article, we provide some widely held predictions by industry watchers and experts.
Building a home that lasts for generations
How do you build a house that will be beloved by your family for many generations? In this article we provide some tips, ideas, and recommendations for planning and building a house that will become the heart of your family today and well into the future.
Should I refinance my adjustable rate mortgage?
Following the housing crash in 2007, the Federal Reserve cut the benchmark interest rate to an all-time low of 0.25 percent and didn't start raising rates again until 2015. But rates have been going up steadily since 2015. Which means if you got your loan when rates were hovering near zero — and it's about to start adjusting — you probably need to explore your options.
What's the difference between secured and unsecured personal loans?
When you borrow money, it's important to have a clear understanding of the different types of loans available, how much they cost, and which one is right for you. One of the most basic differences between types of loans is secured or unsecured.
Diversify your portfolio by investing internationally?
The U.S. market has a long history of stable economic returns, but it isn't the only well performing market in the world, and investors can benefit from exposure to foreign markets as well.
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