Cultivating Tomorrow’s Leaders: A Vision for Indiana Banking

As chairman of the Indiana Bankers Association this year, I have had the privilege of witnessing firsthand the tremendous impact that leadership can have on our industry. My experience with the IBA started with service on the board of the Future Leadership Division, and this experience showed me that the future of the Indiana banking community relies not only on its current leadership structure but also on our collective ability to develop young leaders for future success. 

In today's rapidly evolving financial landscape, effective bank leaders must possess a unique blend of skills and traits. Adaptability, strategic thinking, and a deep understanding of both local and global markets are essential. Leaders must be able to navigate regulatory changes, technological advancements, and shifting consumer expectations. However, there are areas where we can improve. There is a need for leaders who can foster innovation, drive cultural change, and embrace diversity and inclusion within their organizations. 

Advocacy plays a critical role in shaping the banking environment. As leaders, we have a responsibility to influence policy and regulations that impact our industry. The IBA connects community bankers across Indiana, driving collaboration to improve and advocate for the banking environment. The Future Leadership Division brings even more bankers into that effort, exposing the next generation of leaders to this critical function of the IBA and training them to be effective advocates for our industry. By initiating, negotiating, and lobbying for the enactment of positive banking laws and regulations, the IBA gives Indiana’s banking community a voice in the Indiana General Assembly and in Washington, D.C. 

The key to sustained success in banking is investing in the next generation of leaders. We must focus our resources on attracting top talent and developing their skills through organizations like the IBA. Membership in the IBA provides young leaders with invaluable opportunities for networking, mentorship, and professional development. By building a strong network, these future leaders can collaborate effectively and drive positive change within the industry.  

I encourage young leaders to immerse themselves in their communities and understand the issues that affect the banking industry. Serving on boards and participating in community initiatives are excellent ways to gain experience and make a meaningful impact. Personally, board service has been very rewarding, and I have seen how working together with others can benefit our industry and the communities that our banks serve. 

Throughout my career, several mentors and colleagues have played a significant role in shaping my leadership style and, in turn, my success. Their guidance and support have been invaluable. Providing support and mentorship to the next generation of leaders is crucial for ensuring their success. Leaders should take an active role in mentoring young professionals, sharing their knowledge, and helping them navigate the challenges of the banking industry. The IBA is a partner in providing that mentorship. Likewise, having a community of colleagues with whom you can learn and grow together is essential. The FLD provides those connections and relationships that have a lasting impact over the course of a career in banking.  

The future of Indiana banking is bright, but it requires the collective efforts of current and future leaders to ensure our future success. By embracing advocacy, fostering collaboration, and investing in the development of young talent, we can build a stronger, more resilient banking community. I call on all leaders to seize this moment and contribute to shaping the future of our industry. Together, we can ensure that Indiana remains a thriving hub for banking and finance. 
 

This Month's Guest Writer

Benjamin Bochnowski
CEO of Peoples Bank and CEO and President of Finward Bancorp
2024 Indiana Bankers Association Chairman