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

Marc F. Cooley
Executive Vice President

Gary B. Kiser
Senior Vice President, Development

Steve Wofford
Senior Managing Consultant

Speaking Engagements

Articles & White Papers

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 (ABC).

Previously, as President/COO of Myers-Kohl Corporation (now c. myers), Mr. Kohl conducted over 200 ALM seminars and interest rate risk evaluations. Throughout the 1980’s, as one of the original founders of Sendero Corporation and its Executive Vice President, he was responsible for overseeing the design of Sendero’s extensive line of ALM and profit planning models.

Mr. Kohl holds an MBA from Arizona State University and an undergraduate degree in Business with emphasis in Quantitative Analysis from the University of ND. A frequent speaker for trade organizations, Mr. Kohl has been published in various industry periodicals and has authored a booklet on Activity-Based Costing, entitled Improving Financial Performance with Activity-Based Costing and Product Profitability Management.

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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.

Mr. Cooley has over 25 years of industry experience, working with banks and credit unions ranging in size from small community to multi-state regional institutions where he served as both practitioner and consultant with a strong focus on product development. For 12 years Marc was employed by one of the largest CUs in Arizona, where he filled various operational and management roles including that of CFO. Mr. Cooley holds a M.A. in Economics from Washington University in St. Louis and a B.S. in Mathematics from the University of Kansas.

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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.

Mr. Kiser holds an MBA from Arizona State University and an undergraduate degree in Engineering from Clemson.

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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.

In addition, Mr. Wofford has lectured around the world on a variety of subjects including Strategy Execution, Enterprise Business Architecture, Enterprise Scale Performance Management as well as numerous financial services specific topics such as asset/liability management and customer, product and organizational profitability. Finally, he holds both Bachelors and Master Degrees in business finance from Washburn University.

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Partial List of Writings

“Producing Profit in Credit Unions” (Directorís perspective)
By Michael J. Kohl, President/CEO, Kohl Advisory Group

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)
By Michael J. Kohl

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)
By Michael J. Kohl, President/CEO, Kohl Advisory Group

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”
By Michael J. Kohl, President/CEO, Kohl Advisory Group

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.

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Partial List of Recent Speaking Engagements
(By Michael J. Kohl, President/CEO, The Kohl Advisory Group)

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.”
New Orleans, LA, May 2015

31st Annual Bottom Line Conference: “Improve Earnings by Effectively Managing the Financial Performance of Your Products”
Las Vegas, NV, February 2015

Credit Union Services and Product Forum: “Improve Earnings by Effectively Managing the Financial Performance of Your Products”
San Diego, CA, September 2012

Performance Trust University: “Sanity Check Your Risk-Based Pricing”
Chicago, IL, June 2012

CUNA CFO Council: “Sanity Check Your Risk-Based Pricing”
Fort Lauderdale, FL, May 2012

Arizona CFO Council: “Improve Profitability – Get to Know Your Products!”
Phoenix, AZ, April 2011

CUNA CFO Council Conference: “Wake Up and Smell the Money”
Las Vegas, NV, May 2009

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“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.”

Janet Lee
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.”

Joel Polster
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 surgery!

Thanks again!”

Karen Rosales
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.”

Theresa Lotito-Camerino
Edge Federal Credit Union
$40 million assets