2010's Elite 8 Honorees: Where Are They Now
Paul Johnson, EVP and CIO, BB&T
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Paul Johnson, EVP and CIO of Winston-Salem, N.C.-based BB&T and a 2010 Elite 8 honoree, notes that while his job responsibilities haven't changed over the past year, the importance of IT to the organization's overall success continues to rise. "With that comes greater responsibility to find opportunities to create operating leverage and execute at even higher levels," Johnson explains.
BB&T recently completed a successful three-year IT transformation program and is applying its improved capabilities to enabling the bank's business units and corporate support functions to address challenges and opportunities wherever possible. According to Johnson, the bank's key areas of focus will be risk management, meeting regulatory demands, enhancing enterprise information management and analytics capabilities, enterprise automation and optimization, and executing key business initiatives.
The coming year will bring continued -- and increasing -- challenges for Johnson's team, he acknowledges. "We must be ever-mindful of the climate and navigate through the challenges, which include a continued tough economy and tougher regulatory environment, IT consumerization, fewer revenue opportunities, and tougher competition," he points out. "Only a few levers will be available to weather the storm.
"Expense management will be key," Johnson continues. "However, executing on key competitive plays will be important. From an IT perspective, the systems still must run and regulatory requirements still must be met. We expect fewer discretionary dollars and a narrower focus on investment opportunities."