Join the movement: National Cyber Security Awareness Month

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In a world where our thirst for computers, smartphones, gadgets and Wi-Fi seems to have no limits, cyber security has become more important than ever. At home, at work and at school, our growing dependence on technology, coupled with increasing threats to our online safety and privacy, demands greater security in our online world.

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At UMB, we’re proud to take strides towards a safer, more secure cyberspace. In doing so, UMB has joined the National Cyber Security Alliance, Anti-Phishing Working Group and Department of Homeland Security in support of National Cyber Security Awareness Month in October. The Stop.Think.Connect. campaign was launched in 2010 as a national public awareness campaign aimed at increasing the understanding of cyber threats and empowering the American public to be safer and more secure online. Consider it a neighborhood watch for your computer. However, just like security in your neighborhood, this campaign can only be successful when people get involved.

Through this national campaign, UMB has teamed with public and private sector resources as well as the U.S. federal government to help improve cyber security. According to the Stop.Think.Connect. campaign, they strive to:

  • Increase and reinforce awareness of cyber security, including associated risks and threats, and provide solutions for increasing cyber security.
  • Communicate approaches and strategies for the public to keep themselves, their families and their communities safer online.
  • Engage the public, the private sector, and state and local governments in our nation’s effort to improve cyber security.

Cyber security is a shared responsibility. I invite you to join UMB in the cyber security movement during National Cyber Security Awareness Month. Do your part by visiting and the Stop.Think.Connect. resource page to learn more about how to protect yourself online and help make cyberspace a safer place for all cyber citizens.


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.

Ms. Flores serves as senior vice president and Chief Information Security Officer, providing oversight of UMB’s information security and privacy programs. She joined UMB in 2010 and more than 15 years of experience in information technology and information security. She attended Kansas State University with a focus on management information systems and is a Certified Information Security Manager (CISM), Certified Information Privacy Professional (CIPP/US) and Certified Information Systems Auditor (CISA).

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The business of doing good: How to manage your non-profit’s finances (Part 2)

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The non-profit sector is a growing field and an important part of the economy. With so many organizations for people to choose from, how does a non-profit gain continuous support from donors? How do they attract associates and maintain staff enthusiasm for the organization? One answer is something you might not expect: cards.

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UMB hosted a group of almost 40 representatives from Colorado Springs non-profits to talk about a variety of financial management tips for non-profit organizations.

In my previous post I highlighted the first idea covered in this forum: stream-lined, full-service fundraising options for your supporters. Two additional ways to develop and maintain support from both groups are affinity cardprograms for the donors and a commercial card (also known as a corporate card) program for the staff.

Affinity Card

Affinity card programs give your supporters an easy way to donate to your organization. Every time they use the affinity card to make a purchase, a certain amount of money is donated to your organization. The amount will vary based on the card provider you use.

You can even personalize the card to display your logo or another image that represents your organization.

Sometimes organizations avoid programs like this because they think it’s too much hassle to maintain the program. Actually it’s easier than you think. The most important thing to remember is to research the program, the bank that sponsors it, and the terms and conditions of the card.

Commercial Card

Like affinity cards, some non-profit organizations avoid using commercial cards. They’re concerned it will cost them money and be more of an obstacle than a useful tool. Actually, you can use commercial cards to bring money back to your organization, not just to pay expenses. For example, if you sign up for a card with a rewards or rebate program, you could make money using your card. Or you could earn points toward other purchases for the organization.

Many cards offer a comprehensive set of payment solutions you can use to pay for everything from basic expenses to financing full-scale fundraiser events. These payment solutions often offer automated purchasing/payables for your bookkeeping, allowing you and your staff to be more efficient and focus on the work you’re doing in the community.

Other features and benefits of commercial cards include:

  • Spending Controls
  • Convenience
  • Reporting Capabilities

Creating enthusiasm from your donors and associates is easy because they’re passionate about supporting your organization and its mission. Maintaining that enthusiasm is sometimes more difficult and it often involves thinking about processes from their point of view. One way to do this is to establish programs that remove obstacles and allow them to focus on supporting the organization.


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.

Mr. Doyle is community bank president for UMB’s Colorado Springs region. He is responsible for guiding strategic direction in the Colorado Springs region as a member of the Colorado management team. He joined UMB in 2011 and has eight years of experience in the financial services industry. He earned a bachelor’s degree in finance from Florida State University in Tallahassee, Fla. and a master’s degree in business administration from Oral Roberts University in Tulsa, Okla.

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What is diversity and inclusion?

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The words “diversity” and “inclusion” are used a lot in the business world. But how many of us understand the scope of what those two words mean? There is still a widely-accepted assumption that the diversity discussion is limited to minorities and women. But it’s so much more than that. Diversity covers race, ethnicity, religion, gender, sexual orientation, geographical location and even generational differences.

The word inclusion is equally important because it takes the idea of diversity from awareness to action. Once you are aware of the vast diversity in the workforce, the next step is to include as many of those diverse perspectives as possible into your organization.

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So where do you start? Diversity and inclusion has to be more than paying lip service to the idea. Your company needs a plan.

Four areas to focus on:

  1. Executive Leadership Support

    Of course your executive leadership should approve of and enable your diversity and inclusion ideas and efforts. And while it’s great to have that endorsement, it’s only the first step. Implementing a successful diversity and inclusion program in your organization starts from the top down. Diversity should be on the agenda of every leadership meeting, just like the status update on the company financials.

  2. Measurement

    Use measurement tools – like a scorecard – to benchmark and then measure how your company is doing in specific areas. The only way to understand if and how you’re improving is to keep track of simple metrics. That way you can understand where the company began and what to do to improve. UMB is currently implementing these scorecards across our company.

  3. Required Training

    Required diversity and inclusion training for every associate in the company is also important. Do not assume that associates at a certain level of leadership don’t need this training.

  4. Collaborative Partners

    Consider working with local collaborative partners in your area. At UMB we work with organizations across our footprint to help us advance our diversity efforts in the areas of talent acquisition, associate engagement and business opportunities. For example, in Kansas City, we work with many organizations, including Urban League of Greater Kansas City, Hispanic Chamber of Greater Kansas City and a new organization called Concord Cultural Center.

Fully integrating diversity and inclusion in your company involves applying these ideas to every part of the organization and including everyone in the conversation. The diverse perspectives will likely make your company stronger. When you have multiple points of view, you can provide your customers with a well-rounded approach to the business.


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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Internal Fraud: How to protect your company

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You don’t want to believe it. But the numbers just aren’t adding up. You want to trust the people who work for you, but eventually you have to come to terms with the fact that someone in your company is stealing money. Not only does it hurt your business, but it’s often a heartbreaking realization for you as a manager or owner.

It’s not always easy to figure out who is the culprit, but there are steps you can take to detect and hopefully prevent fraud within your company.

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Dual control and separation of duties

Understand who is in charge of what financial responsibilities and make sure there are no gaps. Create a system of checks and balances so that the same person who is running payables (bills, invoices, expense reports) isn’t the same person who is reconciling the accounts (balancing the company checkbook, so to speak).

It’s also a good idea for business owners to review financial statements on a weekly or monthly basis.

Automated fraud detection

Consider implementing Positive Pay. This automated fraud detection tool is offered by most banks. It’s a relatively simple process. Your company issues checks every month and you send the bank a list of all those checks, including check numbers, amounts and payees. The bank makes sure the checks match up as each one clears. This eliminates any fraudulent or altered checks. Automated fraud detection is a great solution for companies as long as they already have dual controls in place.

Anonymous tip line

Businesses should also consider setting up an anonymous fraud tip line. Internal fraud is most often detected by a tip from another associate. As a business owner or manager, you can’t know everything that’s going on in your company. Giving your associates an anonymous way to notify you is a simple, effective way to detect internal fraud.

Other processes and procedures to consider:

  • Reputable third-party audits
  • Periodic reviews of policies, procedures and controls
  • Diversity of associates’ job functions, including rotation of job duties at times
  • Periodic spot checks of your account payables/receivables, payroll, etc.

Don’t think it will happen to you? Keep this in mind. 61 percent of financial professionals reported that their organization experienced attempted or actual payments fraud in 2012. And 26 percent of fraud is committed by an organization’s own associates (Source: Association for Financial Professionals). Even though you want to assume the best from your associates, you should have systems in place to ensure that you don’t become another internal fraud statistic.


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.

Mr. Bibens is a treasury management officer for UMB’s Commercial Deposits department. He is responsible for providing consultative technology and cash flow management solutions to companies and public entities throughout the Greater Missouri area. He joined UMB in 2010 and has 10 years of experience in the financial services industry.

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Is your affinity program still benefiting your organization or non-profit?

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Park University Affinity Card (CardPartner from UMB)RFPs, grant proposals, annual fundraiser dinners, donation drives. If you work for a non-profit or professional association, you’re always searching for new, creative ways to raise funds. Affinity credit card programs are one way to do this by helping to raise awareness and donations with each new account.


For organizations big or small, here are five tips to help begin, migrate or simply reevaluate affinity programs and financial partners.

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Evaluate the rewards program

Some affinity programs pay partnering organizations for new accounts, give them a percentage of monthly charge volume and/or cut them a percentage off balance transfers. Some even reward supporters and members with points, miles or cash back.

But some rewards programs may not actually benefit the organization or the cardholder. Some issuers offer rich rewards to the group, but fund the program through the cardholders (higher rates and pricing). And some rewards have a short shelf life, with points that expire in a year.

Compare affinity programs to learn what the rewards are, who gets them, and most importantly, who pays for them.

Know the terms

Affinity card issuers see value in reaching a particular customer base, but they also have to make money on affinity card programs. Understand where that revenue is coming from—especially if it’s coming from your supporters.

Ask these questions:

  • What are the rates and fees?
  • Does the lender charge cardholders extra for personalization?
  • Are there hidden charges that lessen the value for your organization and/or its supporters?

Consider the marketing support

Traditionally, affinity card issuers have controlled the marketing, using direct mail as their primary, if not only, tool to communicate about the affinity program. With social media, the toolkit has expanded and organizations are gaining control and customization of how they market to supporters and members.

Ask these questions:

  • Does the issuer provide tools to support marketing efforts beyond direct mail?
  • Do you have to wait for bank approval of marketing messages or can you insert pre-approved copy in a newsletter or share it on social media?
  • Does the program give your non-profit the flexibility to send messages on your own timeline?

Control of your supporter list

Many lenders will ask you for direct access to your organization’s supporters and for the control over the marketing messages and timing. They do this so they can cross-market other financial products and services when they issue your affinity card. You’ll have to decide whether you want to give up that control.

Check references and reputation

When entering an affinity program, issuers not only get access to your organization’s database—they also get an implied endorsement.

Choose a banking partner carefully. Talk with current affinity partners. Weigh the bank’s reputation among other non-profits. Check their asset quality, capital adequacy, profitability and loan growth; all factors that indicate the bank’s strength, stability and economic responsibility. Based on your research, select a bank that shares your values and will become a long-term partner.


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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Partnering for what’s ahead: A conversation with Will and Bart of AmeriFlex

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Take a look at this video highlighting one of our many fantastic clients, or should I say business partners.

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Mr. Fee serves as president of UMB’s Texas region and is responsible for designing and executing a strategy to establish UMB Bank in the Texas market, initially by way of Dallas. He joined UMB in 2002 and has also served as the community bank president of the UMB South Kansas City region. Fee earned Bachelor of Science with a major in Business Administration and Accounting from the University of Kansas in Lawrence, Kan.

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Multiple Summits for MS

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We sat down with Ryan Chase, UMB vice president and private banking client manager in Denver, to discuss an organization that’s become his personal mission: Multiple Summits 4 Multiple Sclerosis.

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MS4MS Team UMB Quandary PeakWhat is Multiple Summits?

Multiple Summits 4 Multiple Sclerosis (MS4MS) is an annual fundraising event for the Rocky Mountain MS Center. Teams can sign up for a day they want to climb a 14er. Or you can go it alone and participate as an individual.

When did you get involved?

It all started when I was almost diagnosed with MS in 2006/2007. I saw numerous doctors and eventually was labeled at-risk for MS. I knew I would make the best of it no matter what happened, but the thought of having MS terrified me. The doctors monitored me for one year. In February 2008, I had more tests and the doctors found no progression. The neurologists told me that unless there was any major change in symptoms, I probably didn’t have MS. Relieved doesn’t even begin to describe how I felt.



But I knew others weren’t as lucky. I wanted to get involved with the Rocky Mountain MS Center to make a difference for those who are diagnosed with MS. This wonderful organization is doing some amazing work to educate others about MS and raise money for research to find treatments and hopefully a cure for this debilitating disease. I told them my story and ended up joining the board in 2008.

Then in 2009, I planned to climb Mount Rainier. At first I was only doing it for fun but then I decided to create a fundraising webpage to raise money for the climb. Funding is critical to the work we’re doing at the MS Center and I thought a fundraiser like this would help. I ended up raising $2,000 for the MS Center. When I got back from that climb I decided that I wanted to try it on a larger scale. That simple idea has expanded into what MS4MS is today.

How has it evolved since then?

MS4MS was a grassroots effort in the beginning, but we raised $20,000 in the first year alone. We doubled that the second year, collecting $40,000 from 20 teams. By the third year we formed an official MS4MS committee through the Rocky Mountain MS Center. The program really began to grow that year with 22 teams raising $75,000. We also began accepting corporate sponsors.

How many years has UMB participated?

UMB has supported the program now for two years, acting as a corporate sponsor and encouraging Colorado associates to climb a 14er. This year, nine UMB associates raised money and climbed for the event.

Promoting healthy lifestyles in our associates is an important part of UMB’s company culture. Supporting and promoting MS4MS is just one of the many ways we do this.

MS4MS Team UMB Quandary Peak with SignSome of Team UMB at the top of Quandary Peak. From left to right: Chris Ross, Jenny Boyle, Caleb Hester, Ed Cannon

How much money did the event raise this year?

This year the goal was to raise $80,000. We’re continuing fundraising efforts until October 31, but we are well on our way and we will most likely surpass our goal. We had 225 people register to climb and currently we have raised a little more than $70,000.

Why is Multiple Summits important to you?

As a board member, I know how critical funding dollars are to help with the continuous effort to support the Rocky Mountain MS Center and how important the research is to find a cure for MS. Our partner doctors need the financial support to continue their efforts in finding a cure and progressive treatments for this disease. MS4MS helps the Rocky Mountain MS Center operate. Having gone through the process of a possible MS diagnosis was extremely eye-opening to me and I am proud of what many committed individuals have accomplished in a short period of time.


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.

Ryan Chase is a vice president and private banking client manager at UMB Bank, n.a. He is responsible for building and maintaining affluent client relationships through fulfilling credit, banking and investment needs. He has worked for UMB for six years. He has a bachelor’s degree in Sociology from Lake Forest College in Lake Forest, Ill.

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Your culture drives innovation

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Mike Hagedorn is back to expand on the idea of company culture. This time, he highlights the importance of allowing your culture to drive innovation.

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Mr. Hagedorn is president and chief executive officer of UMB Bank and vice chairman of UMB Financial Corporation. Prior to this role, Hagedorn served as chief financial officer and chief administrative officer of UMB Financial Corporation. He joined UMB in March 2005.

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Federal Reserve Exit Plan

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UMB Bank’s Chief Investment Officer KC Mathews and his team recently gathered for a round table discussion regarding the Federal Reserve’s exit plan. The Fed’s decision not to begin tapering the stimulus was a largely unanticipated move for the financial markets. As explained in detail during this podcast, the Fed based this decision on data correlated with employment, inflation, the debt ceiling and housing recovery.

Learn what this latest move means for investors.

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UMB Investment Management is a division within UMB Bank, n.a. that manages active portfolios for employee benefit plans, endowments and foundations, fiduciary accounts and individuals. UMB Financial Services, Inc.*  is a wholly owned subsidiary of UMB Bank, n.a. UMB Bank, n.a., is an affiliate within the UMB Financial Corporation.

This content is provided for informational purposes only and contains no investment advice or recommendations to buy or sell any specific securities. Statements in this report are based on the opinions of UMB Investment Management and the information available at the time this report was published.

All opinions represent our judgments as of the date of this report and are subject to change at any time without notice. You should not use this report as a substitute for your own judgment, and you should consult professional advisors before making any tax, legal, financial planning or investment decisions. This report contains no investment recommendations and you should not interpret the statements in this report as investment, tax, legal, or financial planning advice. UMB Investment Management obtained information used in this report from third-party sources it believes to be reliable, but this information is not necessarily comprehensive and UMB Investment Management does not guarantee that it is accurate.

All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Neither UMB Investment Management nor its affiliates, directors, officers, employees or agents accepts any liability for any loss or damage arising out of your use of all or any part of this report.

“UMB” – Reg. U.S. Pat. & Tm. Off. Copyright © 2012. UMB Financial Corporation. All Rights Reserved.

*Investment Products Offered Through UMB Financial Services, Inc



K.C. Mathews joined UMB in 2002. As executive vice president and chief investment officer, Mr. Mathews is responsible for the development, execution and oversight of UMB’s investment strategy. He is chairman of the Trust Investment, Asset Allocation and Trust Policy Committees. Mr. Mathews has more than 20 years of diverse experience in the investment industry. Prior to joining UMB, he served as vice president and manager of the portfolio management group at Bank of Oklahoma for nine years. Mr. Mathews earned a bachelor’s degree from the University of Minnesota and a master’s degree in business administration from the University of Notre Dame. Mr. Mathews attended the ABA National Trust School at Northwestern University and is a Chartered Financial Analyst and member of the CFA Institute. He is past president of the Kansas City CFA Society and a past president of the Oklahoma Society of Financial Analysts.

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Estate Planning: What will your legacy be?

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You don’t have to be a millionaire to set up an estate plan. Have you thought about passing down a family heirloom to one of your children? Maybe you’ve considered leaving money to a charity that benefits public arts funding. When you’ve spent your life acquiring assets and building wealth through hard work, it’s only natural to want some control over what happens to them after you’re gone. The best way do this is to have a sound estate plan.

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As you form your estate plan, keep in mind several key ideas.

  • Pick your heirs

    Whether you want to pay for your grandchildren’s college education or give a ring that’s been in your family for generations to your oldest daughter, decide who you want to provide for and how.

  • Provide direction

    If you have specific ideas about how you want your assets to be used when you’re gone, make sure that those ideas are clear in your estate plan. You may want to start a family foundation that supports children’s literacy or structure a trust that holds money you’ve left for your children until they reach a certain age. Whatever special objectives you have, clearly outline them in your estate plan to ensure they’re accomplished.

  • Protect your children

    If you have young children, it’s important to select a guardian to care for them and include this in your will. This may seem like an impossible task, but only you should decide who is best suited for the job. Be sure to talk to them about it before you put them in your will. Having a conversation with them ahead of time will prevent surprises and ensure they are up to the responsibility. Once they agree, make sure it’s documented. If you name a guardian in your will, the probate court will be more likely to honor your wishes. If you don’t list a guardian in your will, the court will select one without guidance.

  • Prevent legal hiccups

    Generally, assets owned by one person are subject to probate after they have passed. Probate is a name for the legal process conducted to determine the authenticity of a will and to distribute the assets of an estate. Probate involves legal costs and causes delays in the distribution process.

To avoid probate and minimize taxes on your assets, you can place part or all of them in a trust. One option is a “self declaration of trust,” where you are responsible for the assets while you are still alive (initial trustee) and a professional third party is responsible for distributing the assets after you are gone (successor trustee). Another option is to name the professional third-party as the trustee while you are still alive.

Many people tend to put off estate planning. But it is an important process for you to consider. It’s an opportunity to take control of future planning for yourself and your beneficiaries. It can be a difficult, but if successfully completed, this seemingly impossible task becomes an efficient and well-executed plan.


Content is for informational purposes only and should not be taken as legal advice.  Please consult an attorney for assistance related to estate plans and your particular situation.

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.

Mr. Tjaden serves as executive vice president and chief fiduciary officer. He is responsible for supervising all fiduciary activities and staff for UMB, including offices in Kansas City, St. Louis, Denver, Phoenix and Salina, as well as the Trust Company in South Dakota. Mr. Tjaden oversees Personal Trust, Custody, Foundations, Trust Legal and Business Support Services within the Private Wealth Management division. He joined UMB in 1977. Mr. Tjaden earned a bachelor’s degree in business administration and political science from Kansas State University. He also earned a Juris Doctor and a master’s in business administration from the University of Kansas. Additionally, Mr. Tjaden is a Certified Trust and Financial Advisor and a member of the Estate Planning Society, the Johnson County Bar Association and the Kansas Bar Association.

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