Anthony McGill (Required)
As a BMSim participant, you will be a member of a management team that has responsibility for the operation of an $800 million commercial bank. Your team will deal with many of the banking problems faced regularly by senior officers in banks across the country. Your team will develop strategies for the management of functional bank areas, with specific emphasis on planning and decision-making in areas such as loans, deposits, investments, funds management, asset/liability management, risk management, etc. The primary focus is on profitability and growth, but attention also is directed to marketing, the pricing of bank services—both current and future, and the management of risk. BMSim allows students to make decisions, to receive quick feedback on the effectiveness of their decisions, and then to make new decisions which adjust bank operations to compensate for a large number of internal and external forces including competition, the economy, and regulatory constraints. Within a two-week period, simulation teams experience the equivalent of two years of bank operations.
While BMSim requires a computer for its operation, you have little need for knowledge about computers. The focus of the exercise is on the management of the bank, and you will probably feel less affected by the computer during your simulation experience than you do in a typical banking situation.
Your knowledge of banking from a senior management perspective may be limited. Suddenly, you are asked to perform tasks that could be foreign to you. Knowing that the teams you compete against are in a similar state of confusion, you must try to anticipate how their decisions will affect your team’s plans. This confusion is further compounded by your unfamiliarity with the BMSim decision structure, financial statements, and operating characteristics. It will also be constrained by time limits, making it necessary to organize and use your time efficiently to address the most critical areas. Therefore, it is important that you adequately prepare for your participation in BMSim by studying the decision manual and completing any pre-session assignments.
Instructors are available to you during your BMSim program as an additional resource. Instructors serve only as advisors; they will not offer suggestions on decisions or try to influence a team’s results. They may ask teams to consider alternative approaches to problems as they arise, but they will not make specific decision recommendations. However, they may suggest alternatives that you have not considered or question the assumptions that you are making in coming to a decision. Instructors are an information source for official announcements, changes in procedures, and other details that will contribute to a more successful learning experience. Instructors will answer questions on the technical aspects of BMSim; but, when you have questions regarding the impact of decisions, you should first ask yourself what would be reasonable, drawing on your own banking experience. The safest assumption is always that BMSim closely mirrors reality.
The decision manual, beginning financial statements and other learning resources are available to you via the program’s website bmsim.cloud. Over the course of the program, you will be provided with key updates via the website designed to enhance your learning experience.