In 1984 I founded Mark H. Smith & Company, CPAs, an auditing and consulting firm. The firm performed supervisory committee examinations and CPA audits for credit unions and community banks throughout the Western United States. In 1990 I was appointed to the American Institute of Certified Public Accountants Credit Unions Committee where I served for three years.
Having had considerable experience as a regulator in helping credit unions move through the high interest rate period of the early 1980s, I have always been interested in the issues of interest rate risk (IRR). In particular I have been concerned with the serious limitations of gap analysis. I felt at the time that an income simulation model would be a far superior management tool than gap analysis. In 1984 I wrote the first release of ALMPro®, an income simulation model. Over the years the ALMPro® model has been continually revised and updated specifically to meet the needs of small- and mid-sized credit unions. Recognizing that typically CEOs of small- and mid-sized credit unions find their time extremely limited we made the decision to provide ALMPro® as a service rather than selling software. In 1995 I made the decision to leave the auditing arena and public accounting to advise clients full time in the area of interest rate risk and liquidity risk. At that time I also committed our services exclusively to credit unions.
In 2012 our practice is focused exclusively on delivering advisory services to credit unions. We currently provide monthly or quarterly ALMPro® Service to over 300 small- and mid-sized credit unions nationwide.
Mark's Bio