February 25, 2020 – Providence, RI-headquartered KLR Executive Search Group has been enlisted to find the next president and chief executive officer for Harvard University Employees Credit Union (HUECU). Partner Susan Pardus is leading the assignment for the recruitment firm. Gene Foley, who has been with the credit union for four decades and led it for 25 years, is retiring in July.
“This is an outstanding opportunity to lead a highly regarded financial services organization with an incredible brand,” said the search firm. “There is significant untapped potential to grow the organization with the existing field of membership and new products/services. The board is seeking an executive who brings energy, an entrepreneurial spirit, and a passion for strategically driving the business.”
HUECU’s president and CEO provides strategic direction, vision, leadership and management in all functional areas of the credit union, said the search firm. These include finance and accounting, ALCO, business development, lending, marketing, operations, retail services, compliance, facility management, human resources, investments, risk management, security and technology.
The CEO will be expected to plan, collaborate with stakeholders and execute all business activities in accordance with: federal and state statues, regulatory compliance requirements and policies, as established by the board of directors. This leader will also be charged with ensuring financial stability while achieving sustainable growth, and maximizing member satisfaction and value.
Near-term priorities for the role include ensuring a successful and seamless transition with the current president and CEO, maintaining a highly collaborative, entrepreneurial and team-oriented environment; continuing to focus on the credit union’s core products/services (residential lending, student loans, credit cards and deposits); increasing HUECU’s visibility and penetration with Harvard and its affiliates; helping develop the new strategic plan; and leveraging technology and data/business intelligence to drive growth/efficiencies and enhance member satisfaction.
To qualify for the role, candidates should have a well-rounded financial services track record that includes a leadership/management background, finance/ALCO/investment experience, exposure to all facets of lending, retail/operations/IT knowledge and an understanding of credit, risk management and regulatory compliance requirements, said KLR Executive Search Group.
HUECU wants candidates to have a thorough knowledge of the credit union industry products, services and procedures, said the search firm. They should also have strong regulatory relations, including solid understanding of external state and federal rules and regulations for lending, credit, safety and security as well as a working knowledge of employment and labor laws. Professional, well developed interpersonal and communication skills are further required. This includes the ability to manage a proactive and positive partnership with a board, regulators, and other external business partners.
A bachelor’s degree is needed for the role; a master’s degree is preferred. A minimum of 15 years of work experience in a senior management position in a complex financial institution or other related experience is also necessary. Prospects must have experience managing a staff of professionals across functional areas; the ability to read, analyze, and interpret complex financial reports, procedures, legal document, and external regulations; and a demonstrated track record as an active member of the community.
Founded in 1939, Harvard University Employees Credit Union is an $800 million credit union serving over 51,000 members from Harvard University and affiliated organizations. Based in Cambridge, MA, HUECU is a state-chartered credit union with federal deposit insurance that is regulated and monitored by the National Credit Union Administration.
KLR Executive Search Group is the recruiting arm of KLR, an accounting and business advisory firm. Its areas of expertise are in technology, accounting and finance, not-for-profit, banking, private equity and venture capital, human resources and healthcare.
Ms. Pardus focuses on senior-level search execution for clients in KLR Executive Search Group’s financial services, real estate and industrial/middle market practice groups. She joined the firm in conjunction with the merger of Kiradjieff & Goode where she was an executive vice president and equity partner. Previously, Ms. Pardus was a senior vice president and managing director at BankBoston, Fleet and Bank of America. She successfully completed the Loan Officer Development Program at BankBoston and subsequently worked in several corporate banking groups.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media