430: Identifying Metrics That Drive Revenue | James Ciroli, CFO, Flagstar Bank

Join us when Jim Ciroli discusses how finance is helping to identify the levers that drive revenue and unlock new growth for Flagstar, the fifth largest bank mortgage originator nationally and third largest savings bank in the country.

Listen to the Episode Below (00:47:18)

“At the end of the day, you can’t manage more revenue. You can manage activities that you think will lead to more revenue, but you can’t manage more revenue. So what are the activities that lead to more revenue and allow our finance people to develop and build models? A lot of our finance people are modelers. They build models at the line-of-business level, and they engage their business people in discussions around questions: What’s the success rate that we think we’re going to have with this particular tactic? What’s the tactic going to cost? What’s the success rate anticipated if we can engage in a more robust way with our business people and share that financial perspective, while helping us to figure out what are the key metrics and the metrics that we can ignore? Because many metrics that people track are lagging metrics and they’re not core to driving the revenue model. And through a period of trial and error, you can go back and figure out what are the key metrics that drive our revenue model.”

Guest: James Ciroli

Company: Flagstar Bank

Headquartered: Troy, MI

Connect: www.flagstar.com

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