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Executive Vice President, Downey FCU – ($170M)
Downey, CA
Executive Vice President
Downey FCU
$170M
Downey, CA
Downey FCU has created an opportunity for an Executive Vice President to assume the leadership of the daily operations of the entire organization; with a successful track record, this person could be seen as a CEO successor by the board in the future. This leader will take an already well run institution to its next level of sophistication, operation and cultural engagement while remaining true to the credit union’s mission of being the choice credit union for the city of Downey, CA.
Originally charted as an educational credit union in ’57, the credit union brought on the city’s community hospital as its second major SEG and in time expanded to a community charter in 2000. Today the educational and medical communities remain the largest base of membership. With strong capital and earnings, the organization runs a conservative balance sheet and makes decisions in order to continue serving its members forever.
One of the initial focuses of this role will be to develop a marketing function that appeals to the current and potential membership using social media and the website as significant sales and service channels. The continuation and expansion of the Community Development, business relations and educational awareness will be another primary focus of this role. Creating new and deepening current relationships with the two major SEGs and community of Downey will be prime indicators of success for the short and long term of this role and the organization.
As a broader charge, the successful candidate will provide leadership, guidance and mentorship to the other functions and departments of the organization including: Operations, Branches, IT, Facilities, Collections, Lending, Accounting and Cards. This person will cultivate greater staff engagement by instilling sound decision making skills, encouraging the setting and achieving of goals and demonstrating accountability and professionalism. In short, the staff will depend on this leader to take their already well run organization to the next level of success.
With the knowledge of the daily activities of the credit union, this person will participate and help guide the strategic planning process with the ultimate goal of better serving their current and potential membership. After developing the strategic plan, this role will engage the staff with a detailed plan outlining the tactical steps and procedures to fulfill on the long term goals.
Required for success in this role will be at least ten years’ experience within the credit union industry with a legacy of developing managers and leaders. Experience in marketing & social media as it relates to financial services, business development, branch operations, lending and collections are a must to be considered for this role.
Vice President, Information Technology – Alliance CU ($346M)
San Jose, CA
Vice President, Information Technology
Alliance CU
$346M
San Jose, CA
Alliance Credit Union has the essential addition to their executive team, an executive role that will navigate the organization’s Information and Technology needs of today and anticipate and deliver on the technological and service needs of tomorrow. This role and its visionary leader, formerly an AVP level, will lead a team to deliver results and service to the internal and external customers. In addition to sound technical skills, the leadership talents of this executive will contribute to the creation and delivery of the strategic plan. Reporting to the EVP/CFO, this VP will join a highly collaborate and cohesive team committed to project planning and the setting of goals/measurements for success.
Initially this role will entail leading a department to prioritize projects and services that support today’s needs. With a collaborative approach, this executive will anticipate the needs of staff, creating a fast and efficient member experience, allowing the entire business to run more efficiently. The members and end users will benefit from the IT department’s sense of urgency and methodical approach.
The opportunity for this executive position includes seeking out and implementing unique and creative ways technology will facilitate opportunities for the business to grow. Developing strategic partnerships with key vendors will allow for Alliance to help shape how products and services are delivered to the membership base in California and North Carolina, creating a more relevant experience. In addition, this Vice President will develop and enforce procedures to ensure the integrity, security and privacy of product and user information maintained by the Credit Union.
Requirements to be considered for this opportunity: Final candidates will have demonstrated how IT has contributed to the overall strategic operation and growth of a financial institution. The successful candidate will join this team leaving behind a high performing team at their current organization as a testament to their leadership and development track record.
This person will join Alliance Credit Union with 5-7 years of management experience within a retail financial institution (bank or credit union).
Vice President, North Carolina Region – Alliance CU ($346M)
Wilmington, NC
Alliance CU has created a new executive position that will lead the North Carolina Region’s credit union’s presence. This position is responsible for strategically aligning the credit union for growth and expansion through the organizations current and future channels including: branches, Community Business Partners (SEGs), dealerships and community groups.
With the credit union’s four branches, Business Relationship manager and the support of the headquarters in San Jose, CA this individual will bring new ideas and best practices to the sales and service culture and growth initiatives. This position will stay abreast of local trends and strongly influence or be responsible for decisions to move in/out of branch geographic marketplaces, deepen and cultivate new relationships with dealerships, CBPs and the overall membership in order to achieve deposit and loan growth targets.
This is a unique opportunity to lead a significant portion of the credit union’s operations and report directly to the CEO. Alliance Credit Union, a progressive organization with state charters in California and North Carolina, has successfully weathered the economy in both states and is ready to achieve its growth targets. Although the majority of time will be spent working within the NC region, this role will be an active member on the Executive Team and engage in the organization’s strategic initiative development and execution. This person will be required to be self-motivated and manage, inspire and lead the NC staff, the role’s peers (CFO, Lending, Marketing, HR and IT) based in San Jose, CA will actively support this role and region’s needs.
The new Vice President, North Carolina Region will have a proven track record (5+ years) within the financial services industry leading multiple retail banking branch operations and business development efforts. Expert experience with consumer deposit and lending products and services is a requirement to be successful in this role.
Chief Executive Officer – NorthCountry FCU ($342M)
S Burlington, VT
NorthCountry FCU is seeking to pass the baton representing all the organization’s success to the next CEO to lead the credit union to its next level of evolution. This financial institution has financially outperformed peers, is a contributor to the Vermont and credit union community, and employs highly engaged talent. The culture of the organization is a model for other credit unions with an involved staff and a genuine care for their members. NorthCountry’s mission is to help the Vermont community access credit, including the underserved and those without access to financial services.
Maintaining, building, and expanding on an already healthy organization in a competitive and changing external environment is the goal of this role. The opportunities for the next CEO are to refine the organization’s current strategy and market penetration, broadening and deepening the delivery channels members have to financial services, including those with modest means.
Requirements for this position: Candidates will be either a CEO or number two in a large, complex credit union and preferably an individual who understands the Northeast culture. A Master’s degree related to business, finance or economics with expertise in marketing strategy and action is preferred. The new CEO must have a strong foundation in leadership of a credit union, understand the risks of decision-making, and assess the external environment related to organizational competencies, technologies and culture.
Vice President of Business Planning & Analysis – Coastal FCU ($2B)
Raleigh, NC
Our client, established in 1967, formed through the efforts of eight employees of the International Business Machines Corporation (IBM). It was their hope that the Credit Union would meet the financial needs of the local IBM community in Raleigh. Their vision was true and in 1991, the field of membership was expanded to include employees of other businesses throughout the Triangle and North Carolina region. Today, with over $2 billion in assets, Coastal FCU provides services to more than 188,000 members worldwide through a network of fourteen branches and their Transaction Call Center. Its mission is “to deliver quality services and solutions to our membership and to foster the Credit Union philosophy of people helping people.”
Coastal FCU offers a strong positive culture with a challenging but supportive executive team and a motivated staff. True teamwork, along with strong growth objectives, is evident throughout the credit union, as well as the desire to do well and provide quality service to its members. The Vice President of Business Planning & Analysis will lead the Finance and Accounting functions of the credit union in accordance with generally accepted accounting principles. This person will be responsible for the administration, review and reconciliation of the credit union asset/liability risk management system and other credit union financial activities. This key role will assure that credit union policies and procedures and state and federal rules and regulations are maintained in all areas of responsibility. In addition, this person will provide supervision and guidance to all Finance and Accounting personnel.
As a member of the management team, this individual will participate fully in the strategic planning process and will act as a strategic business advisor to management providing the financial information and analytical tools needed to make informed business decisions. Identification and exploration of new business opportunities is key to the success of this position. Communication skills, both written and verbal, are necessary as well as leadership presence both internal and external to the credit union.
Treasury Director-Asset Liability Management
Midwest
Our client is a Direct Banking and Payment Service Company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States.
The Corporate Treasury Department manages the company’s financial resources with respect to capital planning, long-term and short-term funding, planning, asset-liability management, interest rate risk management, rating agency and creditor relations and cash management. Become an integral part of this Treasury group and its exciting evolution from the ground up.
Previously Completed Searches
Protected: Vice President, Quantitative Modeling (closed)
Mid-Atlantic
Chief Executive Officer – USAlliance FCU (closed)
Rye, NY
The USAlliance search committee describes the credit union strategy as maintaining a sound financial footing while achieving intelligent strategic growth and maintaining reputation for strong member service. Anticipated strategic growth is both organic and merger/acquisition. In most recent years, the focus of attention has been on the financial soundness to weather the dramatic recession; it is now time to realign with the focus of strategic growth. The board believes there is value on improving what the credit union can offer to obtain economies of scale for financial strength. Day to day, the organic growth strategy has been to expand the field of membership (FOM) or entice those in the FOM to increase utilization of products and services.
The following describes the credit union’s strengths, challenges, CEO decisions and opportunities:
Strengths: The core competencies of the credit union are mortgage writing and risk management, financials and exposures. In comparison to banks, the board believes credit unions are distinguished because credit unions have compelling service. Employees really want to serve the members and take pride in being responsive and responsible, and providing a welcoming culture. The level of service really stands out.
Challenges: Challenges the credit union faces are an aging membership, need to attract younger members, harnessing technology as a marketing tool and taking action on initiatives. The new CEO needs to effectively address these challenges, seek, and implement ways to enhance relationships with members. The board seeks an answering to: “What are the opportunities to better serve our base?” And, driving strategy through to execution and follow-up is a priority.
Decision-making: The search committee members agree the CEO makes all the decisions and has responsibility of running the company. The decision made by the board is who the CEO is. The board does like status updates on strategic initiatives from time to time, as a periodic thought partner; they fully expect the CEO to make decisions and implement strategies and initiatives. The board would like a level of involvement in collaborative discussion as well as understanding the progress of programs.
Strategic Planning and Visioning: There are two sessions a year, one each in the Spring and Fall. The first event looks more at strategic issues in executive sessions exploring topics. The second event is a budget meeting and approval. The board expects the CEO to manage interaction while simultaneously being persuasive, informative and openly communicating for honest discussion.
Expertise and Experience: Candidates are either a CEO or number two in a large, complex organization and preferably an individual who understands the east coast culture. Regarding education, a bachelor’s degree related to business, finance or economics with expertise in marketing strategy and action. A master’s degree is helpful and relevant expertise and experience is a stronger preference. The new CEO must have a strong foundation in leadership of a financial organization, understand the risks of decision-making, and assess the external environment related to internal environment culture, competencies, technologies and culture. Creating and maintaining a healthy organization in a competitive and changing external environment is the goal of this role.
Values and Personal Mastery: When asked what values should be embodied, the following were spoken:
- Leadership
- Decision Making
- Effectiveness
- Strategic Thinking
- Effective Implementation
- Committed
- Confident
- Direction
- Thoughtful
- Openness
- Genuine
- Professionalism
- Integrity
- Trust
- Discipline
- Wisdom
Compensation: Compensation is competitive and not a recruitment issue. In addition to the salary, the CEO receives a short and long-term bonus based on meeting performance objectives, which are clearly articulated.
Search Process: The search committee of four board members will interview finalists in October with a decision and offer soon after. The current CEO leaves in early 2012. Final candidates will meet with Deedee Myers and two other executive coaches prior to meeting the board. References are detailed including background check for education verification, employability, fraud or embezzlement, and credit. The assessment process includes an in-depth overview of resume, experience and expertise by two members of the search team, three leadership assessments and feedback and a five-year compensation history. DDJ Myers’ search professionals create a portfolio of each candidate’s offer including expertise, overview of assessments and other relevant information. This portfolio is forwarded to the search committee as part of their being prepared for an effective interview.
Comments: This opportunity is just that, an opportunity to serve in a high functioning organization and access untapped potential for the next evolution. The board appreciates the current CEO and has a strong relationship with him. Frankly, this is one of the best CEO opportunities available. The board is bright, intelligent, engaged, and committed to the credit union.
Next Step: Contact Deedee Myers for a deeper dive into the search.
About You: DDJ Myers recruiters and leadership coaches understand the financial industry market and know what is important to a C Level executive. We are here to support you in articulating your offer, discussing your next career opportunity or advising you on how to present your own expertise and experience. Each candidate is unique; understanding and articulating what distinguishes you from others is foundational to your success.
About Us: DDJ Myers, Ltd. started the executive search division in 1989 and the Advancing Leadership Institute in 1999. Our purpose is to advance leadership, from within the individual, team or organization. Across the country, we have 12 certified leadership coaches with expertise in supporting diverse teams and organizations through transformative change. Our executive search consultants also have coaching certifications from ICF credentialed universities or institutes. Where else can one find high performing search consultants who support the sustainability and growth of an individual’s career? Please call me to learn more about our organization where doing what is right, sustainable and healthy for all is important.
Vice President & Chief Financial Officer – Library of Congress FCU (closed)
Washington, D.C.
Our client has a strong positive culture with a challenging but supportive board and a motivated staff. True teamwork, along with strong growth objectives, is evident throughout the credit union, as well as the desire to do well and provide quality service to its members.
The Vice President & Chief Financial Officer will lead the Finance and Accounting functions of the credit union in accordance with generally accepted accounting principles. This person will be responsible for the administration, review and reconciliation of the credit union investment portfolio, asset/liability risk management system and other credit union financial activities. This key role will assure that credit union policies and procedures and state and federal rules and regulations are maintained in all areas of responsibility. In addition, this person will provide supervision and guidance to all Finance and Accounting personnel.
As a member of the senior management team, this individual will participate fully in the strategic planning process and will act as a strategic business advisor to management providing the financial information and analytical tools needed to make informed business decisions. Identification and exploration of new business opportunities is key to the success of this position. Communication skills, both written and verbal, are necessary as well as leadership presence both internal and external to the credit union. This person will serve as a key member of the credit union’s Asset Liability Management Committee, Investment Committee and will regularly attend board meetings.
Director of ALM, Financial Planning & Analysis – KeyPoint Credit Union (closed)
Santa Clara, CA
The year was 1979 and the personal computer was about to change the face of the world. In the Silicon Valley, a group of visionaries, part of the then American Electronics Association, were realizing the potential they could harness by pooling their resources to serve the financial needs of their employees within the technology industry. They founded AEA Credit Union, which eventually became KeyPoint Credit Union; an organization that today has approximately $750 million in assets, and more than 40,000 members within such high-tech leaders as Apple, Google, Cisco and scores of other similar organizations.
In 2004, KeyPoint Credit Union expanded its community charter to include anyone who lives, works, attends school or worships in the counties of Santa Clara, Alameda, San Mateo, Sacramento, Santa Barbara, Contra Costa and parts of Ventura. Furthermore, KeyPoint Credit Union became the first financial institution to allow mobile banking and in 2007 launched the Facebook Banking Application. In 2008 it was recognized as “Business Member of the Year” by the Santa Clara Chamber of Commerce for its outstanding commitment to the communities of the Silicon Valley. These are but a few examples that demonstrate KeyPoint Credit Unions ability to remain cutting edge and at the top of their game, significantly increasing membership and introducing even greater numbers to their mission, “putting member’s needs first.”
The Director of ALM, Financial Planning & Analysis is responsible for developing, implementing and managing the asset/liability management systems, the investment portfolio strategies, profitability measurement systems, and the budgeting and financial analytical processes. This role creates and manages the balance sheet and net interest income profile of the Credit Union, provides insight into the key drivers of the profile, and offers valuable solutions for managing the Credit Union’s balance sheet. He or she must demonstrate outstanding quantitative and technical skills, along with the ability to clearly define and articulate the risks and returns of the balance sheet to a variety of audiences. This is a crucial role viewed as a key source of input in managing the Credit Union’s balance sheet.
Vice President, Manager of ALM Strategy, Union Bank (closed)
Los Angeles, CA
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $85 billion as of March 31, 2010. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank has 346 banking offices in California, Oregon, Washington and Texas and two international offices. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations.
Union Bank is aggressively positioning itself to become a “top ten” commercial bank within the next decade through both acquisition and organic growth efforts. The bank’s recent acquisitions have included Frontier Bank in Everett, Washington and Tamalpais Bank in San Francisco, California. Talent acquisitions have included the addition of key Executive Management team members including a new Chief Risk Officer, Chief Financial Officer, Chief Retail Banking Officer, Chief Commercial Banking Officer. The organization is clearly energized and structured to move forward and become a market leader.
As a result, the Corporate Treasury Group is also looking to expand its team as its role continues to evolve and drive strategy throughout the organization. The Deputy Treasurer and Hiring Manager are visionary and seek other qualified ALM professionals motivated by challenges, change, and a desire for growth. While the market has proven to be exceptionally challenging, Union Bank is truly unique today with an exceptional capital position and a proactive desire to elevate all their practices to “best practices” status. Join this Corporate Treasury Group and be a part of history making and seeing something in reality, where other banks are just in the formative stages of accomplishing this.
Job Summary
The ALM Strategies Manager will perform a key role in the development, analyses, communication and execution of the Bank’s market risk management strategies and manage associated projects. The position will report to the Deputy Director of Asset Liability Management Strategies.