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OPPORTUNITY PROFILE
President and Chief Executive Officer
THE ORGANIZATION PROSPERA CREDIT UNION
With assets over $3.4B, Prospera Credit Union is one of the largest credit unions in Canada. More
than 63,000 members benefit from 16 branches, one contact centre, and six commercial banking
centres located throughout the Lower Mainland and the Okanagan Valley. The Head Office of
Prospera Credit Union is located in Abbotsford, BC.
Prospera Credit Union has an extensive community investment program devoted to recognizing
community-based organizations, events, and the volunteers who make a difference in BC’s
neighbourhoods. Dedicated to living the corporate values, and values of accountability, focus,
teamwork, integrity, passion, member first, and community, Prospera makes a meaningful difference
in the financial well-being of their members.
Prospera’s Mission
We make a meaningful difference in the financial well-being of our members.
Prospera’s Vision
Our members cherish the financial and emotional connections forged with us.
Our employees thrive in our high performance culture and cannot imagine working anywhere
else.
Our financial strength positions us for long term success.
Our communities recognize us as a good corporate citizen.
Prospera’s Values
Accountability
Take ownership of what we do.
Focus
Set goals and have the tenacity to stay the course.
Teamwork
Strength through collaboration and support.
Integrity
Take pride in doing what is right.
Passion
Committed in heart and mind.
Member First
Remembering the member, always.
Community
Engage and contribute to our communities.
Prospera’s Strategic Imperatives
Member Growth
Organization Effectiveness
Employee Engagement
Community Involvement
More information can be found at www.prospera.ca
PROSPERA CREDIT UNION President and Chief Executive Officer
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THE OPPORTUNITY PRESIDENT AND CHIEF EXECUTIVE OFFICER
Under Board direction, the President and CEO develops, monitors, and communicates the overall
credit union and subsidiary plans; directs, motivates, and provides leadership to senior management;
ensures high ethics and standards are maintained and reviews service and member satisfaction.
It is essential the President and Chief Executive Officer develops a visible profile within the
organization as a member of the business and professional community in order to develop
relationships, raise the profile, and promote the services of the Credit Union. The incumbent will
maintain a positive profile and work to earn a high level of respect with industry peers and
associations.
Specific Accountabilities
Leadership
Lead and manage Prospera within the parameters established by the Board and its
Committees;
Foster an organizational culture that promotes co-operative principles along with Prospera’s
core values, including ensuring that the highest ethics and standards are employed when
dealing with members, employees, and others;
Ensure compliance with the Credit Union Incorporation Act, the Financial Institutions Act, and
the Rules;
Develop and implement operational policies to guide Prospera within any regulatory guidelines
and the strategic and business plans adopted by the Board;
Direct and monitor Prospera’s activities in a manner that ensures the assets of Prospera are
safeguarded and optimized;
Ensure compliance with Prospera’s policies and practices; and
Monitor current and expected developments in the financial industry, and promote innovation
and thought leadership in the industry.
Board
Be accountable to the Board for all activities of Prospera, and ensure that the Board receives
all information and the cooperation it requires to set and monitor policy;
Perform all duties within limits of the Credit Union bylaws and Board policies. May delegate a
portion of responsibilities where necessary, but may not delegate overall responsibility for
results nor any portion of accountability;
Support the Board Chair and the Board to carry out the Board’s governance responsibilities;
and
Manage the deployment, monitoring, maintenance, development, upgrade, and support of all
IT Systems, including telecommunications, servers, PC’s, operating systems, hardware,
software, security licenses, peripherals and office/plant automation equipment. Document
asset information, including software licensing information.
PROSPERA CREDIT UNION President and Chief Executive Officer
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Strategic
Develop and recommend Prospera’s strategic and business plans with input from the Board
and successfully implement corresponding operational plans, capital plans and other
supporting initiatives within approved budgets;
Seek Board approval for the annual operational and capital budgets, the levels of authority on
expenditures against the annual budgets and capital plans, and other actions or transactions
falling outside the plans approved by the Board; and
Champion execution of the strategy.
Spending Authority
Seek Board approval for the levels of authority on expenditures against the annual budgets
and capital plans set out in the business plan and other actions or transactions falling outside
the business plan approved by the Board.
Reporting
Report to the Board on the achievement of operational and financial goals; and
Keep the Board apprised of material issues that may affect Prospera’s ability to achieve the
operational and financial objectives set out in Prospera’s strategic and business plans.
Financial and Risk Management
Ensure the integrity of Prospera’s internal control, financial, and management systems in
keeping with the British Columbia Credit Union: Standards of Sound Business and Financial
Management, ERM Version;
Provide an annual due diligence report confirming that Prospera is in compliance with all legal
requirements;
Ensure the Credit Union’s Lending and Investment policies are adhered to; approve loans up
to the limit established by the Board; and
Identify and discuss with the Board at least annually:
o
Principal risks of the business (including subsidiaries and whether on or off balance
sheet); and
o
The systems in place to manage such risks;
o
Ensure the effective implementation of systems to manage these risks;
o
Establish processes to deal with and respond to extraordinary events or crisis.
Members
Establish regular reviews of service and member engagement, and ensure corrective action
is taken where necessary; and
Ensure products and services produce a reasonable return to members and guard the safety
of the capital funds invested in the Credit Union.
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Human Resources
Develop and recommend to the Board the overall organizational structure;
Keep the Board informed of any proposed material changes to the organizational structure;
Develop and recommend to the Board the broad compensation strategy and philosophy for
Prospera;
Appoint and manage direct reports;
Approve senior executive compensation within levels approved by the Board, including
salary, incentives and benefits;
Provide the Directors, at Board and Committee meetings, with exposure to Prospera’s
Executive Team and other key personnel;
Annually provide the Board with an overview of the Senior Executive Team’s performance;
Advise the Board Chair and Human Resources Committee of any changes to the Senior
Executive Team;
Obtain the approval of the Audit Committee for the appointment or termination of the Internal
Auditor;
Annually establish and maintain a Board approved plan for executive development and
succession;
Develop and maintain a comprehensive management contingency plan that provides
organizational stability;
Ensure staff have access to continuing education programs that help ensure the best
possible service to the Credit Union and its members; and
Ensure equitable administration of compensation policies and structures, employee benefits
plans, performance management processes as well as other employee programs.
Subsidiaries
Appoint board members of companies that are partially or fully owned by Prospera;
Ensure all subsidiaries are in compliance with policies applicable to Prospera; and
Lead and oversee subsidiary operations.
Strategic Alliances
Identify opportunities for new partnerships, strategic alliances, mergers & acquisitions, and
extensions into related businesses and/or geographic expansions.
External Relations
Act as the primary spokesperson for Prospera and oversee Prospera’s interfaces with
members, stakeholders and the public;
Develop and implement a communications program to support Prospera’s strategic
objectives;
Maintain a positive working relationship with all key stakeholders;
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Proactively influence industry leaders and regulators by participating in industry focus groups,
committees, conferences, etc. articulating the Prospera point of view on all key issues facing
the industry; and
Promote Credit Union system cooperative and collaboration, and legislative and regulatory
policies that encourage a healthy community and credit union industry.
Outside Commitments
Obtain Board approval prior to accepting significant community commitments and/or outside
board appointments.
THE PERSON
Education and Experience
The ideal candidate will possess the following education and experience:
Broad executive management skills that could include operations, sales, marketing, finance
and/or strategy
Understand the relevant business and financial drivers of a financial services business;
ideally, bring experience and expertise in some of the following areas:
o
Financial management, including complex financial instruments
o
Risk management
o
Change management
University degree with an MBA/graduate degree preferred, along with a minimum of 12 years’
experience in financial industry management, or an equivalent combination of education and
experience; and
Ideally, has reported to a board of directors; strong understanding of board governance; able
to develop strong relationships with directors, and encourage effective and appropriate
communication, information and reporting, and alignment between boards and senior
management
Competencies and Personal Characteristics
Leadership skills that demonstrate an ability to take a broad view of the issues, encourage
innovative and progressive approaches and solution, motivate and communicate strategic
issues and solutions, and motivate a team to translate vision into actions.
Strong interpersonal skills and an ability to influence others, and effectively mediate between
those with competing interests.
Effective at working in a high profile position, and preferably in dealing with the media.
Planning and risk management skills to ensure the organization takes the steps necessary to
ensure continuity and success in the future while minimizing risk and maximizing shareholder
returns.
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Demonstrated commitment to the credit union system and the community.
Strong results orientation, with a clearly demonstrated ability to set objectives that reflect the
company’s strategy, and develop and achieve annual operating plans while applying sound
financial management skills.
Demonstrated commitment to continuous learning to ensure own and organization’s skills are
continually honed.
COMPENSATION
A competitive compensation package will be provided including an attractive base salary, variable
compensation, and excellent benefits. Further details will be discussed further in a personal
interview.
FOR INFORMATION PLEASE CONTACT:
Jen Curdie or Greg Longster
Davies Park Vancouver
#880 – 609 Granville Street
Vancouver, BC V7Y 1G5
Phone: (604) 688-8422
Email: [email protected]
Additional information can be found at: www.daviespark.com
PROSPERA CREDIT UNION President and Chief Executive Officer
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