P R O F E S S I O N A L . . . C O N T R O L L E R S
To help us evaluate the offerings of banks and bankers please be prepared to
discuss issues related to the following questions, and more. If this looks like it might be a tough
interview, that’s our intent. There are
hundreds of banks, both large and small, from which to choose. What fits for one company does not
necessarily work for another. Cost
should be a consideration, but only as it relates to overall affordability and
to otherwise similar offerings.
CONTEXT ----- COMPLUS Professional Controllers
serve contractually as part of the management team for clients (owners of
"for-profit" businesses in the Chicagoland area - McHenry to
Merrillville) that are too big for him/her to run with only a checkbook in the
back pocket and too small to hire one of us full-time. (That’s generally 20-100
workers or $2-10 million sales.)
- What services/products are
offered by your bank to business customers?
Cash management/sweep services
Zero balance coverage accounts (i.e., for Payroll)
Revolving Line of Credit
Credit Cards for corporate purchasing
Customer Credit Card transaction processing
- How would you describe your
- How would you describe your
- What do you want to know about
a new customer before opening accepting a deposit account?
- How are deposit accounts
insured and to what dollar limits?
- Under what circumstances have
or would you close a customer’s checking account?
- If you were to recruit my
business from a several-year relationship with my current bank, for what privileges
of a long-term relationship at your bank will I have to wait (and for how
- What borrower conditions, if
present, would guarantee that a loan application would be rejected?
- What are the significant
factors that influence how long it takes for you to approve a loan
- What audit services must be
purchased by loan customers?
- One of my “trusted advisors”
is a CPA. Will you accept an audit
report from his firm? Why or why
- How do you calculate deposit
account service charges?
- How do you calculate loan
- What computer software do you
use to run the bank?
- How do you safeguard the
personal information you must gather from me in order to be my
- What is the most important
question a banker should ask before making a loan to a customer with whom
there is little history?
- Turnover among bank personnel
is now a fact of life. If you
persuade me to be a customer of your bank now, and two years from now you
go to work for another bank, one year later with whom will I be banking?
- How do you respond to this
expression of the stereotype: “A
banker is one who will lend you an umbrella on a sunny day and take it
back when it rains.”
- If a business owner friend
asks, “I just got a proposal from Administaff -- what do you think?” How do you respond?
If you're a business owner looking for a new bank, you might find some of
these questions helpful. COMPLUS is not a CPA firm. COMPLUS offers Professional Controller (management team)
services. COMPLUS does not compete with
CPA firms that primarily offer audit and income tax return preparation