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Chief Executive Officer

Req Number: EN351
Location: New York New York
Posted: 7/29/2020
Category: Financial : Consumer/Commercial Banking
Job Type: Permanent

Position Chief Executive Officer

Company Municipal Credit Union

Location New York, NY

Reporting Relationship Board of Directors

Website www.nymcu.org

Company Background/History

Municipal Credit Union is a state-chartered credit union based in New York City regulated by the DFS and NCUA. Municipal is the largest Credit Union in the metro area at over $3 billion in assets, 14 branches and with over 500,000 members. The credit union was founded in 1916 initially for municipal workers in New York City. The credit union is an important resource to NY police, fire, teachers, nurses, students, other city employees, and their families in the Greater New York City area. The individual selected to be the next CEO will play a critical role in rebuilding a landmark financial resource for the Members and the Community.

Opportunity Profile

Municipal Credit Union is seeking an experienced financial executive to lead through its next stage of organizational transformation and financial sustainability. The Chief Executive Officer directs all operations to include strategic planning, developing policies and procedures, continuously improving products and services, and providing outstanding member service. The initial task will be to oversee the execution of the credit union’s established net worth restoration plan. As financial stability and strength are re-established, the CEO will be responsible to work with the board of directors on the long-term vision for this critical organization.

Position Responsibilities

The President/Chief Executive Officer is responsible for the overall leadership and management of programs, products, and services provided by the Credit Union. The position ensures that all aspects of the Credit Union’s activities operate in a safe and sound manner and executes current and long range strategic plans, budgets, goals, and objectives that are needed to sustain positive growth in equity, loans, deposits, and return on assets. Ensures the Credit Union provides the highest level of member relations and service, a positive culture and working environment, and complies with internal policies, procedures and processes and all external regulations and laws. Operates in a very competitive business climate, requiring constant attention to products and services, member service, product pricing, and regulatory/statutory requirements.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Responsible for the development and implementation of effective strategic plans, policies, and procedures.

• Develops and implements operational plans, policies, and goals which further strategic objectives and support the annual business plan. Continually evaluates organizational operations and modifies as needed.

• Ensures focus and emphasis on the Credit Union’s lending functions in support of member service and achievement of revenue goals.

• Continually monitors general economic environment and industry trends. Updates policies, plans, and goals so they are commensurate with external conditions.

• Work in close collaboration with the NCUA in the recruitment, onboarding and development of a new board of directors at the appropriate time based on continued momentum against the NWRP.

• Works with the Board to develop overall strategic direction and the annual business plan.

• Executes Board approved policies.

Responsible for establishing and maintaining effective financial policies.

• Oversees budgets. Ensures that loan and share targets established in the annual budget are achieved and expenses are reviewed and controlled.

• Analyses and oversees development of the Company's credit, pricing, and investment policies.

• Reviews financial and operating statements. Examines and assesses capital requirements, identifies potential problem areas, and takes action as needed.

• Authorizes capital expenditures and the acquisition or disposition of assets.

• Oversees development and implementation of internal accounting and financial controls as necessary to preserve Credit Union assets. Ensures accounting activities and reports are in accordance with established policies and applicable legal requirements, accurately reflect the Credit Union’s financial position, and provide the necessary information for decision-making.

Responsible for the effective performance of corporate administrative support functions.

• Ensures IT functions are efficient, provide useful pertinent information to personnel and management and all data is secure.

• Ensures human resources policies and programs effectively support Credit Unionwide needs and objectives and are compliant with applicable laws and regulations.

• Ensures facilities and equipment are well maintained and in good repair.

• Ensures the effective coordination of corporate support functions with sales, service, and production activities.

Responsible for the effective performance of Credit Union sales and marketing functions.

• Conducts regular reviews of marketing, sales activities and implements corrective actions as needed.

• Ensures sales and marketing activities are conducted in accordance with established policies and procedures.

• Oversees implementation of pricing, packaging, and promotions programs. Ensures program integrity.

• Stays informed of the Credit Union’s market position and formulates strategies to increase sales and market share.

Ensures the effective acquisition, development, management, and retention of all Credit Union staff. Establishes and maintains effective communication with Credit Union personnel and the Board of Directors.

• Oversees the establishment and implementation of organizational structure.

• Directs and coordinates activities of major subordinates.

• Establishes effective reporting and communication mechanisms with personnel to ensure appropriate and adequate information flow throughout the organization.

• Provides leadership to Credit Union personnel.

• Ensures personnel are well trained, effective, and efficient.

• Conducts performance appraisals as required. Provides suggestions for improved performance. Implements corrective action as needed.

• Keeps the Board of Directors informed of Credit Union activities and of any significant concerns. Provides recommendations to improve Credit Union performance.

• Completes required reports and documents.

Responsible for establishing and maintaining effective communication and professional business relations with members, the community, trade organizations and other business contacts.

• Ensures information is obtained and conveyed as needed and that problems or inquiries are promptly resolved.

• Ensures the Credit Union’s professional reputation is maintained.

Qualities & Attributes

• Ability to quickly adapt to current operational initiatives designed to financially reposition the credit union

• Demonstrated ability to drive baseline operating efficiency and discipline while beginning the conversation around MCU’s future potential and market position

• Capability to work effectively with an evolving team and regulatory board in a transparent, collaborative fashion

• Broad business acumen with demonstrated understanding of the competitive environment in which Municipal Credit Union operates

• Alignment with the credit union’s key strategic focus on developing a member centric business model from a philosophical and financial perspective

• Ability to lead transformational change at a pace that protects the organization where appropriate and challenges where necessary

• Demonstrated leadership capabilities to balance risk and reward, innovation, and execution

• Dynamic leader that instills trust and confidence with the credit unions primary stakeholders- membership, board, staff, SEGS, and regulators

• Appreciation for the progressive use of technology for the enhancement of the member experience, process efficiency and service delivery

• Relationship driven with exceptional personal presentation and communication skills

• Politically astute and relationship driven with the ability to engage, influence, and partner externally with key organizational stakeholders

• Leadership DNA driven by the highest ethical standards and integrity

Professional Experience

• Ten years of executive leadership experience in a credit union or bank having at least $1B in assets

• CEO experience preferred but not required

• Executive leadership experience will include broad functional experience with deep operational expertise to include lending

• Proven leadership experience engaging in highly collaborative, transparent, regulatory relationship

• Track record for driving successful organizational strategies designed to optimize customer/member value and satisfaction

• Proven experience identifying external stakeholders and developing strong, mutually beneficial partnerships

• Experience building and leading a cohesive team with a track record for execution.

Education

• Bachelor’s degree required. MBA preferred.

EN351

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