Eric Weikart

Eric WeikartGonzoBanker - Team Member
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Biography: Eric Weikart
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Eric Weikart
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Eric Weikart

By Eric Weikart
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Eric Weikart is a senior consultant with Cornerstone Advisors, Inc.Ô, a Scottsdale, Ariz.-based consulting firm providing best practices, strategy and technology services and CUES' partner in CUES Tech Port.

Go to the current issue of Credit Union Management.

By Eric Weikart, director, Cornerstone Advisors Inc., CUES' partner in CUES Tech Port

By Eric Weikart, senior consultant, Cornerstone Advisors Inc., CUES' partner in CUES Tech Port

Even the smallest credit union can deal with dozens of vendors, each of which potentially represents major risks to the institution, according to Erik Weikart in a recent article on GonzoBanker.

Regrettably, vendor management is virtually non-existent at many institutions, consisting only of regulator-provided templates that sit unused, says Weikart, a senior consultant with Cornerstone Advisors, CUES' partner in CUES Tech Port.With auditors beginning to push the issue, it's increasingly important that credit union executives keep apprised of regulatory requirements and share emerging best practices.

In this article, Weikart describes the three-stage approach being promoted by regulators, as well as his own six-step vendor management plan.

Presenter: Eric Weikart, Director, Cornerstone Advisors, Inc

According to the NCUA, third party vendors are a concern to the industry because they provide critical products or services to members such as loan underwriting, loan servicing, and loan closing services.Credit unions that have not performed a comprehensive review (initial and periodic) of third party vendors-such as Credit Union Service Organizations (CUSO) or other third parties-have suffered financial loss, and reputation, credit, and operational risk.The effect on their operations could have been minimized if they initially understood the vendor's business plan and performed an ongoing evaluation of the services provided by the vendor.

In this stimulating Webinar, Weikart will discuss the latest regulations and share best practices.
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As Director for Cornerstone, Eric Weikart plays a key role in various types of financial, strategic and technical analyses.Weikart is critical to Cornerstone's ongoing research efforts, helping identify and retain new information and intellectual capital.He leads many of the firm's system selection engagements and serves as Cornerstone's liaison to the vendor community.

Weikart is a contributing author to GonzoBanker, CUES Tech Port® and Credit Union ManagementÔ magazine, and he contributed industry analysis to Cornerstone's benchmarking and best practices publication, "The Cornerstone Report: Benchmarks and Best Practices for Credit Unions 2006."

Prior to joining Cornerstone, Weikart spent four years as financial analyst and assistant treasurer at Sofia & Company, where he modeled bank acquisitions and developed a high level of banking expertise through his comprehensive research experience.

Weikart received his Bachelor of Science degree in business administration - finance from The Ohio State University in Columbus, Ohio.

Biography: Eric Weikart
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Eric Weikart
...
As Senior Consultant for Cornerstone, Eric Weikart plays a lead role in various types of financial, strategic and technical analysis.In addition, Eric plays a critical ongoing research role within the firm, helping to identify and retain new information and intellectual capital.Prior to joining Cornerstone, Eric spent four years as Financial Analyst and Assistant Treasurer at Sofia & Company, where he modeled bank acquisitions and developed a high level of banking expertise through his comprehensive research experience.

Eric received his BS in Business Administration - Finance from Ohio State University in Columbus, Ohio.

Biography: Eric Weikart
...
Eric Weikart
...
Eric Weikart
...
As Director for Cornerstone, Eric Weikart plays a key role in various types of financial, strategic and technical analyses.Eric is critical to Cornerstone's ongoing research efforts, helping identify and retain new information and intellectual capital.He leads many of the firm's system selection engagements and serves as Cornerstone's liaison to the vendor community.Eric is a contributing author for GonzoBanker, CUES Tech Port and Credit Union Management magazine, and he contributed industry analysis for Cornerstone's benchmarking and best practices publication, The Cornerstone Report: Benchmarks and Best Practices for Credit Unions 2006.

Prior to joining Cornerstone, Eric spent four years as Financial Analyst and Assistant Treasurer at Sofia & Company, where he modeled bank acquisitions and developed a high level of banking expertise through his comprehensive research experience.

Eric received his Bachelor of Science degree in Business Administration - Finance from The Ohio State University in Columbus, Ohio.

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