Resourceful professional offering executive-level leadership and vision in strengthening growth and profits of organizations within the financial/banking sector through exceptional financial, operations, and strategic management expertise. Highly skilled in orchestrating cash management and financial planning operations, including management of investment portfolio yield optimization, loans, liabilities, liquidity, various profitability analyses, and overall financial performance. Proficient in guiding accounting, facility, HR, and other back office operations. Well versed in building productive, motivated teams, generating optimal performance and results from staff at all levels through stellar relationship management, training, and mentoring capabilities, coupled with demonstrated empathy and compassion. Strong background within credit union and banking arenas with skills and abilities transferable to a variety of other sectors and environments.
Highlights:
• Upon beginning tenure with organization, required to respond to credit union’s poor regulatory exam that identified 25 issues of concern—warranting placement into special oversight category—addressed most serious issue involving excessively high operating expenses. Reduced operating expenses by $1M annually within 18-month time period and $1.5M annually within 36 months, lowering expense ratio from 4.25% to 3.50%; credit union was removed from the special oversight category by regulators.
• Increased yield for investment portfolio from below peer average to top 2% of peer group in 12 months by prudently purchasing investments with higher interest rate risk (IRR) profile. Actively managed IRR profile, generating $10M+ of incremental investment income above the peer average over 5 years.
• Performed comprehensive evaluation to determine feasibility of selling headquarters and purchasing new facility in response to increasing space shortage and decline in net worth ratio due to changing economic conditions. Presented analysis and recommendation to Board to sell headquarters which they concurred with the analysis. Efforts resulted in gain of $2M on sale of headquarters, increasing net worth by .50%; new headquarters facility reduced operating expenses by $150K annually. Negotiated with buyer of headquarters to obtain loan with credit union for its purchase, generating loan interest of $200K annually.
• Spearheaded movement of plastic card servicing to new vendor, resulting in reduction in operating expenses of $500K annually and implementation of much easier system to use also improved service for members. As a result of the vendor change, the credit union migrated to a new core system, which enabled them to charge for additional fees not available in the old system, generating $750K annually.
• Developed 5-year forecasting model that demonstrated that the current low interest rate environment would reduce credit union’s net income due to investments re-pricing downward, resulting in creation of new business strategies on loan originations. Indirect loan program was reinstated with additional emphasis placed on real estate loans. The new strategies ensured that credit union maintained higher ROA in the future without regard to interest rate levels. My efforts educated the Board of Directors on the importance of strategic planning.
Companies I like:
Credit Unions and Banks
Charged with growing balance sheet—loans and shares—and improving profitability for credit union, while enhancing ROA and net worth ratio. Directed accounting, facility, and HR operations, as well as cultivating productive relationships with external auditors, regulators, investment portfolio advisors, and employee benefit vendors. Led organization’s funds management committee, setting agenda, reviewing organization’s current and future financial position, and training committee members on asset liability management issues. Interfaced effectively with Board members in helping to set strategic direction of credit union. Oversaw budget processes, including operating expenses of $13M; investment portfolio of $150M, along with short- and long-term liquidity.
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