Feb. 21, 2018

This piece is presented by MetaBank.

MetaBank’s dynamic growth has been great for the business, but it required a different kind of growth for some key employees: learning to speak the language of accounting.

“Our philosophy was that this group of employees could perform better and in turn support the business better if they understood how MetaBank measures financial success and the impact it has to the company’s performance,” said CFO Glen Herrick. “We invest heavily in developing our employees and decided to add further financial education to our course offerings.”

Herrick, who has his MBA from USD, contacted the dean at the Beacom School of Business, Venky Venkatachalam, about creating a custom curriculum to fit Meta’s needs.

“As the flagship business school in South Dakota, we knew we were going to get a great program,” Herrick said. “We have hired several graduates from the business school and were familiar with the quality of work they put into their curriculum. It was a great fit for us because we could customize it to our unique business model but also deploy it in a way that was convenient for our employees.”

Professor Jason Porter delivered three four-hour sessions at the MetaBank corporate services campus to a pilot group of 15 employees representing several departments throughout Meta.

“I have a better understanding of what the financial ratios mean — specifically, what Meta’s ratios are and how our business model impacts them,” said Brian Winner, vice president of compliance. “That’s something I was curious about and wanted to learn more going into the class. I think I’m a better-informed employee because of it. I’m able to take a more thoughtful approach to decisions that may have a financial impact.”

Scott Fiegen, vice president of software engineering, wanted to learn more about interpreting financial statements.

“I learned that revenue isn’t everything,” he added. “As I learned about financial statements and the different components, I understood how to determine the health of a company.”

MetaBank has been so pleased with the results that the business has already launched the next round of classes to a new group of employees.

“We definitely foresee continuing this program,” Herrick said. “We’re committed to developing existing talent for new opportunities within our growing businesses.”

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