News, insights and tips

from FEI Louisville

Published: October 12, 2023

Business diversity and teamwork as a group of diverse people holding arms as a multiracial society and multicultural community joined and united team building as a together and togetherness concept.

PROFILE: Katrina Green


Working to make FEI Louisville more welcoming and diverse


EDITOR'S NOTE: This is the first in a series of profiles featuring FEI members, FEI sponsor partners and chapter leadership.


Would you give us a snapshot of your background? Hometown, any early influences, how you got to Louisville (if you moved here from another city or state), your current professional position and role? 


I grew up in Borden, Ind., which is a very small town. My parents, grandparents and great-grandparents all lived in Borden along with almost everyone else I knew. Both of my grandmothers were very strong women and encouraged me to go after what I wanted. My maternal grandmother worked outside of the home but somehow found the time to cook and sew, and to volunteer as the treasurer at her church. My paternal grandmother worked in the home and taught me some valuable life skills. One of which was to be very dependent and stand up for myself. She never learned to drive so she was very dependent on her husband. They were very different women but taught me so much!


I recently started a new chapter in my career. I am currently the Finance Director for Silver Creek Leather located in Jeffersonville. After experiencing breast cancer last year, I made the decision to put my mental health first and find a position that gave me balance in my life.



What motivated you to pursue a career in finance? Why did you decide to join FEI?


Upon graduating from high school, I decided to pursue a career in Fashion Merchandising. I worked for several years in retail but then decided to try something else. While pursuing a major in business at Indiana University Southeast, the accounting classes came easy for me due to my understanding of cash flow and inventory grained while working in retail. I had an accounting instructor take notice and encouraged me to major in accounting.


A female friend invited me to an FEI event and encouraged me to join. I was at a point in my career when I was making a change and needed to broaden my network. I realized it would be a great way to make those connections in the finance arena along with adding to my skills as I pursued a CFO role.


You recently became a part of chapter leadership to help make FEI a more diverse organization. Tell us about the importance of this effort and what you want to accomplish. 


I worked for a company where I was the first female promoted to a director position. I’ve been the minority in the board room several times in my career. It is very intimidating and overwhelming to be part of a team when you don’t look or think like everyone else in the room.


My goal is for FEI to be a support system for everyone. A place to make those connections and build relationships with those that don’t always look and think the same. 

Click here to read more 

To learn more about FEI's diversity goals and initiatives or to get involved, contact Katrina at greenkatrina101@gmail.com. Or email FEI at FEILouisville@gmail.com (phone: 502.410.2113. )

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Educating the next generation of business leaders (or how to get a cool volunteer gig with paid travel)

By BILL STOUT


Are you familiar with AACSB? If not, you should get to know them because there’s a potentially rewarding volunteer opportunity available that combines “doing good” and “travel.”


AACSB International (the Association for the Advancement of Collegiate Schools of Business) is the leading worldwide accreditor of business schools, with more than 1,000 in the US and internationally..


Around here, Bellarmine, EKU, KSU, Morehead, Murray, NKY, UK, UofL, WKU, and IU Southeast are all AACSB accredited.


AACSB’s goal is to connect educators, students and business to “create the next generation of great leaders” – providing opportunities while helping the schools continuously improve, inspiring innovation and quality and maintaining high standards.


AACSB recruits volunteers from accounting firms to join accreditation teams, and increasingly, from industry. It’s a cool gig.


While there’s no compensation, all trip expenses are covered, including travel to and from the school, accommodations during the visit, all meals, airport parking, etc., and sometimes, great hotels. 


The benefit to you is getting an inside view of how the next generation of business leaders are being developed. And through your advice, you can have an impact on the school’s programs, helping that school do their best. I assure you, it is a rewarding experience.

Click here to read more
Bill Stout

William Stout, PhD, CPA has made 25 accreditation trips with AACSB and is heading to United Arab Emirates in 2024. Email Bill at william.stout@louisville.edu to learn more.


UPCOMING IN NOVEMBER


FEI, ACG Kentucky and the CFA Society Louisville are hosting Kathleen O'Neill Paese -- interim president and CEO of the Federal Reserve Bank of St. Louis for an event that will explore the U.S. economy and monetary policy.


She joins Louisville Branch executive Seema Sheth in a fireside chat conversation.


LOCATION: The Foundry, 200 Missouri Ave, Jeffersonville, IN 47130

TIMING: November 9, Lunch

CHECK-IN & NETWORKING: 11:15 a.m.

PROGRAM: 12:05 p.m.


RSVP

President's Corner


Recession or not? Ideas to navigate a downturn


Read this on the FEI website


There has been much discussion and debate over the last year if the economy will go into a recession. Economists had been split between, “Yes, absolutely” and “No or Maybe, but it will be small if there is one because the job market is so strong.” 


Inflation is being felt by everyone and likely will reduce consumer purchases. Interest rates are high and may go higher which will likely curtail decisions to invest in new equipment or other expansion projects. Currently, most economists seem to agree that we are probably headed for a recession but there is still debate as to the severity and length.


I think it is time to do what financial professionals do best: Plan and prepare. It is a good time to employ the phrase that we have heard 1,000+ times: Plan for the worst and hope for the best. Very sound advice that has been proven time and again.


Do you have your plan ready if the economic downturn happens?


Staffing


  • Have you already targeted areas if layoffs become necessary?


  • Have you considered alternate staffing models? If 2 people leave, possibly replace with 1 person.


  • Have hourly workers work 7 hours instead of 8. If 7 hourly workers go to 7 hours/day, then you can save a person’s position instead of layoff.


  • If a full-time person leaves can the position be filled with a part-time person? In bad economies, more candidates are available and many will accept part-time. If a full-time position becomes two (2) part-time positions, then you can employ/help two people in times of greatest need.


Inventory


  • Do you need to start reducing inventory? You don’t want to have excess inventory when a slowdown occurs. Reducing inventory will increase inventory turns (if sales remain constant). This is usually preferred by banks.


  •  Reduce or eliminate dead stock, over stock, and obsolete stock. There is no better time to deal with dead and obsolete stock than when the economy is still strong, and profits are good. Secondly, write-off or write-down known items.


Spending


  • Bad economies are time to rule with an iron fist.


  • Reduce travel.


  • Reduce conferences and training that might be postponed for a year.


  • Make sure staff and projects are staying within budget.


  • Create a revised budget with reduced costs.


Reduce debt


  • With rising interest rates, it might be a good time to review the entire loan portfolio.


  • Does it make sense to negotiate with your bank, or possibly switch banks, to get better rates?


  • Does it make sense to consolidate loans and refinance into one loan?


  • Consolidated loans might qualify for a slightly lower rate and probably a lower total monthly payment. This could increase cash flow at a time when “Cash is King.”


Customers


  • Make sure you maintain GREAT relationships with your customers. Don’t give them a reason to look at your competitors.


  • Does it make sense to take a reduced profit percentage for a while to keep your customers indebted to you?


  • Does it make sense to offer a rebate program? A rebate program can be more than just giving money back to the customer. It can be used to offer rebates on new products or new services.


These are only a few ideas to help navigate an economic downturn.


Do you have a plan?


Plan the work. Work the plan.


Contact me directly for more information about FEI or our resources or ways we can help further your professional or personal goals. We are happy to help.


FEI is where engaged financial leaders thrive!


Jim Schildt, CPA

(M) 502-744-4604


Jim Schildt is president of FEI Louisville and Director of Accounting at Onsite Management Services. 

Email Jim

JOINING FEI LOUISVILLE


Experience "HI" -- Human Intelligence - through FEI membership.


For $299 annually, take advantage of these benefits:


-Connections with local finance peers and pre-paid lunches


-Access to FEIconnect, the online finance community and valuable problem solving resource


-Learning and CPE credit opportunities - 90+ no-cost webinars each year  


-Industry news via FEI Daily


-Leadership development


-Access to federal regulators


Click below to learn more or join.

Become a member 

CPE Opportunities

Finance Transformation Webinar Series (Oct 19 & 26)


The finance function is constantly evolving, and embracing technology can greatly enhance efficiency and the quality of financial reporting. This exclusive webinar series is designed to equip finance leaders like you with the latest trends and insights in leveraging automation, AI, robotics, and other transformative tools. 1 hour of credit per session.


REGISTER

LAST MINUTE CPE


JPMorgan Chase Economist Ginger Chambless


This event takes place Tuesday, Oct. 17, so hurry to register to hear her take on the economy. One hour of credit ("Economics") is available through FEI. Be sure to click the box to pre-register for CPE.

OCT 17 Registration 


October FEI Anniversaries 

Bill Stout

Promotions, moves, company news, executive openings, career tips, story suggestions?


Email your information to Terry McWilliams, chapter administrator, at FEILouisville@gmail.com. (Phone: 502.410.2113)


FEI Louisville's newest silver strategic partner

Houchens Insurance Group (HIG) is FEI Louisville's latest strategic partner. HIG is the insurance and risk management subsidiary of Houchens Industries, the largest 100% employee owned (ESOP) company in the nation. Jamie Johnson and Mike Marra represent them in Louisville. Click below to visit their profile on the FEI website. 


See Houchen's FEI representatives

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