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Meet the Leadership, Begonya Klumb, CEO of UMB Healthcare Services

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Begonya Klumb is one of the most influential business women in Kansas City, and that’s not just our opinion. She has been recognized by KC Business Magazine, the KC Business Journal as well as American Banker Magazine‡ who named her one of the Most Powerful Women in Banking Top 25 Women to Watch.

We recently talked with Begonya to learn more about her background, inspiration, and passion for giving back to her community.

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Tell us about yourself.

I was born and raised in a very happy home in Spain, where my parents still live. I’m blessed to come from a close-knit and supportive family. My maternal grandmother was an important influence on me. She built the family business, a shoe manufacturing and export company. She was extremely business-minded, and had a strong personality. Until her last days, people in town called her “la Jefa,” “the Boss”!  I admire her deeply—she was the inspiration for me to study business and economics.

What was the most important business lesson your grandmother taught you?

People matter most. Her business was one of the largest employers in our small community. The way she treated individuals and their families affected her ability to run the business. She cared and it showed. Employees were eager to work hard for her, and they remained very loyal. To this day, more than 20 years after her passing, people in town will stop me to share stories about my grandmother.

How did you land in the U.S.?

Love! My husband was a student at the London School of Economics when we met. We married and lived in Europe for a few years before coming to the United States in 2001. I attended Yale University for an MBA, and we decided to make our home in Kansas City, where he was born.

We have two children, ages nine and eleven. We’re at that point in our lives where we run the circuit of school activities, soccer games and piano lessons. Weekends are busy, with family, which is perfect.

How has your career evolved at UMB, and what is your day to day like?

Prior to my current role, I served in a number of positions at UMB including Chief Strategy Officer, Director of Corporate Strategy and Development, Director of Financial Planning & Analysis, Director of Mergers & Acquisitions and Director of Corporate Strategy and Investor Relations.

Today, I am the CEO of UMB Healthcare Services. Day-to-day I’m responsible for managing all aspects of the business, which includes nearly $2 billion in assets and deposits.

When your daughter is grown and reflecting back like you are now, what would you hope she says about you to her children?

Your grandmother was part of a generation of business leaders who addressed biases that you will never even notice, because they no longer exist.

What advice would you give to future female business leaders?

Lead from the front.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.pulation Survey/Housing Vacancy Survey, Series H-111, U.S. Census Bureau, Washington, DC 20233.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Market Minutes with KC Mathews

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Chief Investment Officer KC Mathews recently completed a two-day media briefing in New York City, where he shared his thoughts on current market conditions as well as information on his 2017 forecast with CNBC, CNN Money, and Bloomberg Radio. Listen to the brief podcast and read the articles below to learn more about what KC is expecting to see over the course of the year.

Also, read KC’s recent economic articles, which give more detailed information on where we’ve been and where we’re headed.

Follow UMB and KC Mathews on LinkedIn to stay informed of the latest economic trends.

Interested in learning more about our Private Wealth Management division? See what we mean when we say, “Your story is our focus.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Inside UMB: A happy workplace is a healthy one

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In the second part of our Inside UMB series, we are pleased to share how UMB’s health and wellness initiatives have provided a positive outcome for associate Janessa Baake. Learn how one of our UMB wellness coaches has helped Janessa achieve her health goals, in her own words.

Janessa Baake UMBWhen I started participating in UMB’s wellness program, I was on the higher end of all my health totals, meaning I was dangerously close to being in the unhealthy range for my height and weight.

I had gained weight after I had my daughter, and I felt slow, foggy and unmotivated to do anything about it.

I had tried everything from joining a fitness program that came with healthy shakes, to competing in a Biggest Loser competition, with zero results. Then, I decided to meet with Will, a new wellness coach at UMB.

A new way of thinking

Will asked me questions about how I wanted to feel, rather than focusing on the numbers. He made me think outside of the box and enlightened me to new ideas and ways of thinking. Thanks to his help and guidance, I’ve now exceeded my goal with a 17-pound weight loss.

It’s had a true impact on my life in that I have more energy, I’m no longer constantly hungry, and I actually feel the need to work out! I also feel sharper when doing my work and many tasks aren’t stressful or overwhelming anymore.

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A brighter outlook

The impact of meeting Will and using UMB’s tools and encouragement has made my outlook of the company even brighter. Since this company cares enough to provide a professional to help me manage my weight, stress, and anything else health-related, it has shown that they care and that I am a valuable asset.

Being our best self

My high school health teacher used to say, “You can’t do anything in this life without good health,” and this journey has definitely proved that to me. When you don’t take care of yourself, you can’t be the best you. I’m happy to say I feel like I’m now the best version of myself. And I believe that is contagious with the people we come in contact with, including our co-workers and clients. I feel very fortunate that I work for a company that is fully invested in helping us achieve our best selves.

For more information on UMB’s wellness initiatives and benefits, see our feature in the Kansas City Business Journal‡ or on umb.com.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Meet the Leadership: Rekha Patnaik, Executive Vice President and Director of Bank Strategy and Administration

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Q&A with Rekha Patnaik, Executive Vice President and Director of Bank Strategy and Administration

From India to New York to Missouri (and several other stops along the way) Rekha Patnaik executive vice president and director of bank strategy and administration, had a very full journey before landing in Kansas City with UMB.

See how her family, life experiences and lessons learned along the way have helped shape her outlook on career and life.

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Tell us about what your life was like growing up.
I was born and raised in India, and have one older sister. My mother was a homemaker and my father worked as a government official in India in a role that would be similar to a position in the U.S. Forestry Service.

Because of my father’s work, we lived a fairly mobile lifestyle and frequently moved around the country. Some of these places included three years in the Andaman Islands located on the Bay of Bengal, and Shillong, located in the Northeast of India for two years. I think in all, I lived in more than six different places as a child.

While this was great because I experienced the many diverse cultures found in India, some places were better than others, particularly from a safety standpoint. We lived in Kashmir when I was in the fifth grade, and after our winter break, we could not return to our home because the terrorism was so bad. My high school years were spent in a city named Jammu, which is around 30 miles east of the Pakistani border, so during that time in my life, we lived with the threat of terrorism on a regular basis.

When you were in school did you know that you wanted to work in banking?
No. After graduating from high-school, I attended university in Pune (near Mumbai) for my undergraduate degree. I took the Graduate Requisite Exam to attend Stony Brook University in New York because of its excellent computer science program. When I graduated, my first job was actually with a technology start-up company.

Why did you move from New York?
While studying in New York, I met my husband. I landed a job at a startup company in New Jersey, and he ended up getting a job in Peoria, Ill.

After months of us flying back and forth to see each other on the weekends, we decided that I was going to move to Peoria to be with him. This is where my business career began. The job I found in Peoria bridged the gap between my technology skills and business. I really enjoyed the business side of the work, so I decided to focus more on that.

Tell us about your career at UMB
I joined UMB in 2008. I started my career in the Management Rotation Program before joining the Corporate Strategy team. I was a founding member of the Merger and Acquisition department at UMB. In my current position of executive vice president, director bank strategy and administration, I am responsible for leading and managing projects initiated by the UMB Bank chief executive officer, in addition to prioritizing bank resources and commitments to ensure maximum efficiency and efficacy.

Are there lessons your parents taught that you regularly draw from?
To me, it’s all about humility, working hard, and being even-tempered. My father was my professional role model, and he used to say, “Work is Worship.” He loved his work very much, and each day he would come home and often spend time working on his files. He was a very good diplomat and believed in the power of diplomacy to accomplish goals and get things done.

My mother always had a very cool head and would be described as “even keeled.” She was a great role model for what mothers should be. Now that I have a daughter of my own, I often find myself drawing from examples I learned from her.

What advice would you give to aspiring female leaders of tomorrow?
Going back to what my father used to say, “Work is Worship.” The more you love what you’re doing the more rewards will come to you. When you begin your professional life, don’t focus on the rewards. Be humble, work hard, be sure to network, and don’t be afraid to toot your horn, when appropriate. It can be challenging, but don’t look at life or work as a place with a destination, but as a continuous journey of discovering what you love.

 

 


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Meet the Leadership: Uma Wilson, Director of Product Management

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Q&A with Uma Wilson, Director of Product Management

Tell us about yourself.Uma Wilson, age 16
I was born and grew up in India until my early teens. I am an only child, and I suppose I received way too much attention. My mom, especially, was very keen on my studies (all the credit goes to her!). I was fortunate enough to graduate with honors and was offered an internship to come to the United States to work for a Fortune 100 company.

I learned many lessons during this journey, especially the meaning of humility. I was faced with a huge cultural change and, like any teen, I struggled a bit. Luckily, though, I was surrounded by good mentors that taught me much more than any book did.

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What about your past shaped who you are today?
My parents taught me the value of hard work and, at the same time, the value of people. Growing up I had to work extremely hard to sustain my placement in a private school, which was expensive for my parents. I’m thankful to my sponsors who believed in me and gave me every opportunity which in turn defined my future.

Did you always know you would be in banking?
No – during college and even after graduation, my natural inclination was towards technology. I had the background and exited college during the era of the computer age and Y2K. However, I quickly realized I enjoyed banking and finance and opted to go this route instead, and am so glad I did.

Tell us about your time with UMB
I’ve been with UMB for 10 years, and looking back at my college self, would never have thought I would be where I am right now. I’ve always been passionate about product management, and since entering this field, my ambition has been to be head of product. And today—because of the amazing career pathing I’ve received—here I am, doing my dream job.

Is there a defining career moment that comes to mind?
Uma Wilson and family in New York CityMy defining moment was when I received feedback from my first team—that is when I transitioned from being a manager to a leader. Being a leader is about giving direction and focusing on your team and their success.

We’ve talked about your life at different stages. Looking back, what advice would you give your 20-year-old self today?
I would explain the importance of focusing on learning, building relationships and developing the patience that comes with those items. When I was 20, the world seemed much simpler, and I remember there were times it seemed there was an easy solution to doing things better.

At that time, I didn’t understand it’s the “what and how” behind doing it better. Learning how to identify potential improvements, embracing the process, challenging things, and again, developing the patience to do all this.

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What life lessons do you hope to pass down to your children?
My life lessons are an extension of what my parents passed down to me. As I said earlier, they taught me the importance of a strong work ethic, and my husband John and I are focused on instilling that in our two children.

We always tell them that regardless of how small or big the project is, put your heart into it—be prepared, and you will be successful.

Uma Wilson is executive vice president and director of product management for UMB, which includes developing product strategy, road map, business plans and P&L management for the depository, digital, payments and card solutions. She joined UMB in 2006 and has more than 20 years of experience in the financial services industry.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Meet the Leadership: Dana Abraham, President of Personal Banking

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UMB prides itself on being a financial institution with a heartbeat that embraces the diversity of our associates. In honor of women’s history month, we’d like to introduce you to Dana Abraham.

Dana’s father inspired her to be a leader, her small business owner mother influenced her commercial banking roots and several mentors helped to shape her career. Learn more about what inspires the President of our Personal Banking Team.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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7 Tips to Prevent Tax ID Fraud

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As the 2017 tax season gets underway, it’s a good idea to take extra precaution to prevent exposure to tax fraud. As we saw in 2016, criminals are using new and innovative methods to try to gain your trust or scare you into lowering your defenses and making a costly mistake. These tactics have continued‡ into 2017.

Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim a refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in their name.

To help prevent tax ID fraud, the Federal Trade Commission (FTC) ‡ and Internal Revenue Service (IRS) ‡ offer the following tips:

  • File early – File your tax return as soon as you have all of your documentation giving criminals less time to use your information to file a false return.
  • File on a protected Wi-Fi network – If you’re using an online service to file your return, be sure you’re connected to a password-protected personal network. Avoid using public networks like a Wi-Fi hotspot at a coffee shop.
  • Use a secure mailbox. If you’re filing by mail, mail your tax return at the post office or an official postal box instead of your mailbox at home. Some criminals look for completed tax return forms in home mailboxes during tax season.
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  • Find a tax preparer you trust. If you’re planning to hire someone to do your taxes‡, get recommendations and research a tax preparer thoroughly before handing over all of your financial information.
  • Shred what you don’t need. Once you’ve completed your tax return, shred the sensitive documents that you no longer need and safely file away the ones you do.
  • Beware of phishing scams by email, text or phone. Scammers may try to solicit sensitive information by impersonating the IRS‡. Know that the IRS will not contact you by email, text or social media. If the IRS needs information, they will contact you by mail first.
  • Keep an eye out for missing mail. Fraudsters look for W-2s, tax refunds or other mail containing your financial information. If you don’t receive your W-2s, and your employer indicates they’ve been mailed, or it looks like it has been previously opened upon delivery, contact the IRS immediately‡.

If you believe you’re a victim of tax identity theft or if the IRS denies your tax return because one has previously been filed under your name, you should:

  • Alert the IRS Identity Protection Specialized Unit at 1-800-908-4490
  • Respond immediately to any mailed IRS notice and complete IRS Form 14039‡, Identity Theft Affidavit
  • Contact your bank immediately, to determine if any accounts have been opened without your permission or if your current accounts have been tampered with
  • Contact the three major credit bureaus to place a fraud alert on your credit records:
  • Continue to pay your taxes and file your tax return, even if you must do so by paper

More information about tax identity theft is available from the FTC at ftc.gov/taxidtheft‡ and the IRS at irs.gov/identitytheft‡. To learn more ways to keep yourself protected online, visit UMB’s Security & Privacy page.

Content adapted from the American Bankers Association (ABA).

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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UMB’s History: Women take on new roles at the bank

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During World War II, more than 16.3 million people served in the United States armed forces, 10 million were men drafted into service. At home, women filled the jobs that were normally filled by men. Women moved into traditionally male dominated occupations, including banking.

In 1942, for the first time in its history, City National Bank (which would become UMB Bank) placed a woman in the bookkeeping department. Up until then, all of the bookkeepers, tellers and most of the associates working in the transit department were men.

Today, women serve in a multitude of management and leadership roles inside nearly every business line and department within UMB.

In honor of women’s history month every Wednesday in March we’ll be featuring some of the women that are now in those leadership roles.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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February’s special anniversary

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Valentine’s Day has always been a favorite of associate Jan H. But in Feb. 2010 the day of hearts took on new meaning for her when she had heart surgery to replace her aortic valve. She now uses her story to spread heart awareness to others.

“Since finding out about my ailment, which is actually a birth defect, I always try to provide awareness to others, particularly on Go Red Day, about heart disease and stroke dangers. Since I began sharing this information, I have found others with the same issue and feel very fortunate to be part of the Survivors Club. My colleagues make these time of year even more special by always remembering me on Go Red for Women Day.


Personally, I also have a great cardiologist who takes care of my heart and great friends and a loving husband who all make each year better and better. I am very blessed!

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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St. Louis Snapshot: Q&A with Peter Blumeyer

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In the early months of the year, bankers are looking ahead and considering challenges the industry might face as well as where the industry could be going. The Risk Management Association recently hosted a Bank Presidents’ Fireside Chat to gain insight and industry perspectives for 2017. Following are a few of the comments shared by UMB Bank St. Louis President Peter Blumeyer, who served as one of the panelists.

What is your outlook for the year?

As we begin 2017, the banking industry is very competitive. We believe C&I, manufacturing and distribution will be the most competitive industries for lending this year. We have set high goals and will work very hard to compete in this market. We will also keep a keen eye on the talent in the market. We want to ensure we hire people who can compete in this industry while providing them a fruitful career.

How has UMB Bank dealt with the extended period of extremely low interest rates?

We continue to operate in a sustained low interest rate environment that has impacted our net interest margin and continues to challenge our industry. However, we have actively positioned UMB to benefit as rates begin to rise. As a result, whenever the Federal Reserve does drive the short end of the rate curve higher, the nimble position of our earning assets is expected to produce a lift in interest income. We have a solid balance sheet and take pride in our extraordinary credit quality and are well positioned for when interest rates begin to move up.

Are there any new trends developing, positive or negative, in lending?

One negative trend we are experiencing is aggression. As mentioned above, the market is very competitive as every bank looks for new deals and areas to grow. We are seeing customers hone in on the aggressive competitive nature. They might ask for more money with a lower rate or try and compare different term sheets. This can work in their favor as they search for the best rate, but it’s also a risky situation. If a customer tries to piecemeal a deal, it might not be very attainable for the banker to create.

A positive trend is the market is healing. We are slowly coming back from the recession, which is very exciting. Companies have access to the money they need to grow their business and perform their capital expenditures. This is even better for our economy as more growth is added to St. Louis. It is encouraging to see, and at UMB, we are excited to support this growth.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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