The principals of the Kohl Advisory Group together have over 115 years experience in measuring, analyzing and explaining risk and profitability levels of lending and deposit products as well as balance sheet positions overall. Background and experience include the development of product profitability and ALM software, consultative assistance in managing balance sheet risk, assessment of product cost and profitability, and facilitating strategic planning processes.
Michael J. Kohl, President & CEO
Michael Kohl is President & CEO
of the Kohl Advisory Group, which
provides Assessment Services, Consultative Assistance and Workshops
to credit unions in product cost and profitability management.
The firm promotes improvement in bottom line performance through
balanced "product financial contribution" and the use
of advanced analytical methodologies such as Activity-Based Costing
Marc F. Cooley, Executive Vice President
Marc Cooley is Executive Vice President for Kohl Advisory Group, responsible for oversight and delivery of all of Kohlís product profitability assessments as well as implementation, training and support of the accompanying product enhancement software.
Gary B. Kiser, Senior Vice President, Development
Gary Kiser is Senior Vice President
in charge of development for the software tools used by the Kohl
Advisory Group in assessing product cost and profitability of
clients. Prior to joining the Kohl Advisory Group, Mr. Kiser was
Vice President in charge of development for Myers-Kohl Corporation,
and, along with Mr. Kohl, was one of the original founders of
Sendero Corporation. While at Sendero, he served in various capacities
including Senior Vice President in charge of Development.
Steve Wofford, Senior Managing Consultant
Steve Wofford is Senior Managing Consultant
in charge of product profitability assessments. Mr. Wofford has held numerous
leadership positions at major corporations including Director of Research Analytics
for Oracleís Financial Services Applications group. Director of SAPís Center of
Excellence (COE) for Activity Based Costing, and Director of IBMís COE for Business
Intelligence, Analytics and Enterprise Performance Management. Prior to those
positions he held numerous positions in banking within the investment management,
structural profitability and asset liability management areas.
Partial List of Writings
“Producing Profit in Credit Unions” (Directorís perspective)
Directors must ensure that management understands and strategizes the financial performance of the credit unionís products, and that the resultant strategy drives a solid return. Published by Credit Union Management Magazine, July 2009
“2015 Product Cost Summary for Credit Unions” ($195)
Book published by the Kohl Advisory Group that presents and explains over 75 product cost charts and supporting schedules that address 19 commonly offered balance sheet products (13 classifications of loans and 8 types of deposits) for 14 credit unions. Balance sheets addressed were from September, 2014, through September, 2015.
“How to Assess Product Profitability” – White Paper (FMS)
White Paper that describes how Activity-Based Costing is best used to determine and understand the financial performance of products. Published by Financial Managers Society in 2007.
“Profitably Grow the Balance Sheet”
A conceptual overview (booklet) on how Activity-Based Costing can be used in conjunction with product profitability management to enhance and grow credit unionís balance sheet.
Partial List of Recent Speaking Engagements
CUNA CFO Council Conference: “Product and Branch Profitability Measurement... First do no Harm!” – “a 3 hour pre-conference session that laid out the benefits and pitfalls of product and branch profitability measurement and management in credit unions.”
31st Annual Bottom Line Conference: “Improve Earnings by Effectively Managing the Financial Performance of Your Products”
Credit Union Services and Product Forum: “Improve Earnings by Effectively Managing the Financial Performance of Your Products”
Performance Trust University: “Sanity Check Your Risk-Based Pricing”
CUNA CFO Council: “Sanity Check Your Risk-Based Pricing”
Arizona CFO Council: “Improve Profitability – Get to Know Your Products!”
CUNA CFO Council Conference: “Wake Up and Smell the Money”
“We received substantially more than anticipated. We now have a more comprehensive Product Profitability Report, which incorporates extensive interviews with staff and contains detailed meaningful components of costs, to assist us in product profitability analysis.”
Chief Financial Officer
Chevron Federal Credit Union
$1.4 billion assets
“Over the last ten years Navy Federal has used Kohlís Activity-Based Assessment to better understand and manage the cost and profitability of our products and services. In today's environment, in order to remain competitive, we strongly believe that credit unions need to understand and effectively manage what their products and services earn. Kohl's Activity-Based Assessment provided us with the tool to understand our product and service profitability.”
SVP Financial Operations
Navy Federal Credit Union
$40 billion assets
“This is just the information our credit union has needed and we'll be putting
it to very good use. I feel like a blind woman who's just had laser eye
Marketing & Business Dev.
Justice Federal Credit Union
$500 million assets
“Kohl Advisory Groupís "ABC Product Profitability Snapshot" not only develops cost and profitability by product, but also explains why our products cost and earn what they do. In addition Kohl provides guidance and training on how to use the accompanying software ("EZ What if" Model) to develop and test product related strategies. Our recent rollout of a member onboarding program helped us design a suite of profitable products that increase the usage and number of services acquired by members; generating revenue in areas that were loss leaders.”
Edge Federal Credit Union
$40 million assets