September 6, 2017 – These are critical days for credit unions. The U.S. has nearly 6,000 of them, with more than $1.2 trillion in assets, according to the National Credit Union Administration.
But with the steady retirement of Baby Boomers, among other factors, these financial cooperatives are facing the loss of more than 4,000 chief executive officers and senior managers over the next five years. This means that leadership development, succession planning and employee retention are more important than ever.
San-Francisco-headquartered executive search firm O’Rourke & Associates has recently been selected by the San Francisco Federal Credit Union, San Mateo Credit Union and Northwest Federal Credit Union to lead their searches for chief lending officers, a position vital to the day-to-day operations of these institutions.
San Francisco Federal Credit Union
San Francisco Federal Credit Union is a not-for-profit, member-owned financial institution. Founded in 1954, it now has more than $1 billion in assets, seven branch locations and upwards of 43,000 members.
For this search, O’Rourke & Associates is charged with finding a solutions-oriented chief lending officer for the organization. The individual is expected to play an active role in driving organizational growth through the execution of corporate strategies. The new CLO will oversee real estate and consumer lending, member business lending and collections. Working with other leaders to deliver innovation in service and internal processes, the CLO is expected to complete a thorough review of the product suite, analyze the loan portfolio, evaluate talent and make recommendations. Successful candidates, the search firm said, can come from any lending discipline, provided they have demonstrated success in building high performing teams and growing a department.
Ten years of relevant work experience managing in a lending environment in a mid- to large-asset financial institution is preferred. Underwriting experience is also a plus. The position reports to the CEO and functions as an essential part of the strategic leadership team. Ideal candidates are critical thinkers who demonstrate a leadership style that fosters collaboration and encourages diversity of thought and candid conversation, said O’Rourke.
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San Mateo Credit Union
Since opening its first branch in the Redwood City County Courthouse in 1952, San Mateo Credit Union has been a fixture of the San Mateo, CA community. Its assets stand today at over $900 million. The credit union’s membership numbers more than 84,000, and it has seven branch locations from Daly City to Palo Alto.
For this assignment, the credit union is seeking a member-focused, solutions-oriented chief lending officer to shape its lending strategies and provide intentional leadership to the growth-focused lending team. The executive will oversee real estate, consumer lending and financial assistance teams. The individual will also work with other leaders within the organization to promote differentiated products and service experience to its members.
The role will have a significant focus on loan growth, secondary market activities, risk management and driving innovation in service and internal processes. The CLO is expected to possess strong leadership skills to help direct and mentor lenders and all lending activities for delivering a strong value proposition to the membership. Candidates should have 10 years of experience in a mid- to large-sized financial institution, with at least five years overseeing lending operations, including residential real estate lending, direct and indirect automobile lending, credit card lending, secondary market activities, collections and risk management.
Northwest Federal Credit Union
Northwest Federal Credit Union, one of the largest credit unions in the country, has $3.2 billion in assets. Based in Herndon, VA, the organization has a new CEO, who is expected to elevate Northwest Federal to the next level.
This chief lending officer reports directly to the CEO. The CLO is responsible for strategically managing all areas of the organization’s lending function. The individual will be responsible for portfolio and risk analysis, developing and implementing effective loan policies and procedures, and driving growth and innovation across the consumer, mortgage, commercial lending and collections areas.
The ideal candidate must possess a thorough knowledge of the products and services offered in the consumer, real estate and business-financing marketplace. A strong knowledge of lending and collections-related regulations is required. A strong financial background and current working knowledge of evolving financial industry trends is also essential. As is a minimum of 10 years of experience in overseeing a large, complex and growing loan portfolio.
Credit Union Specialists
O’Rourke & Associates specializes in credit union industry recruiting. The firm offers expertise in CEO and executive recruitment, succession planning and leadership assessment, human resource consulting, compensation and retention analysis, coaching and leadership development.
The firm recruits senior leadership throughout the sector. O’Rourke has tapped senior leaders for numerous organizations, including Firstmark Credit Union, California Bear Credit Union, Silver State Schools Credit Union, Nassau Financial Federal Credit Union, Chartway Federal Credit Union, Land of Lincoln Credit Union, Tampa Bay Federal Credit Union and Rainbow Federal Credit Union, among others.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Will Schatz, Managing Editor – Hunt Scanlon Media