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CASE STUDY
National Bank Focuses on Strong Technology with Interim CIO Leadership
A national bank that provided everything from affordable housing to small business loans had many transitions taking place internally. It didn’t make sense to hire a full-time Chief Information Officer until a vitally necessary technology change and transformation initiative was complete.
Improved Business Processes | IT & Security Risk Assessment | Prioritizing & Streamlining IT Initiatives
OPPORTUNITY: Technology is essential to quickly process data, so the bank saw an opportunity to bring in a fresh outside perspective with an expert Interim CIO who could help continue to strengthen the technology platform, reliably process data, and serve members before bringing a permanent executive on board.
The President and CEO of the bank reached out to InterimExecs for a recommendation from the RED Team. InterimExecs connected the bank with technology leader who had served in many Chief Information Officer (CIO) and Chief Information Security Officer (CISO) roles.
WHAT: A financial institution provides liquidity and funding to their member banks to serve local communities
INDUSTRY: Banking & Financial Services
ROLE: Interim CIO
LOCATION: United States
I would say the first thing about InterimExecs is how quickly you got back to me. I remember sending out an email. Within a day, I got a response. Within a couple of days, we had a call set up. I described what our need here was at the bank and within a week of my calling, you had lined up interviews with the Interim CIO and a few other candidates as well.
– Bank President & CEO
SOLUTION: The RED Team CIO had a successful track record working with companies across many industries from a financial mortgage service provider to a national healthcare organization. As a top interim executive experienced in project management and leading everything from mergers to international expansions, the CIO quickly jumped in to learn the ins and outs of the business.
“It felt like he had been here quite a while, and I think in part, I was able to share enough information with the Interim CIO ahead of time where he was able to get up to speed on the issues here at the bank, understand our business and how we operate, and what our needs were. It was a very, very seamless integration.”
– Bank President & CEO
The assignment kicked off by engaging with the bank’s executive team, board of directors and other team members to assess the current structure and untapped opportunities. The bank was able to leverage the experience the Interim CIO brought from other industries, complimenting and strengthening the expertise of the current team.
“The benefit from my perspective is to bring somebody in with a great deal of insights and experience… that can come in, quickly diagnose what the problem is, and come up with solutions based on best practices out there in the marketplace. That is not something that you’re going to find within a company. People have a certain institutional knowledge, institutional memory, and bringing somebody in like the CIO, you bring in a whole different set of experiences and knowledge that can really be brought to bear on a company’s problems and challenges very quickly.”
– Bank President & CEO
When an organization is growing an interim executive can be an invaluable asset. An interim executive will come in and be able to look at this situation independently, put that assessment together, make linkages in between people, have no ulterior motive defined for staying any longer than they should and then put the plan in place and if they’re asked to help execute that, everybody knows where they stand.
-RED Team Interim CIO
To learn how an InterimExecs RED Team leader can help you, contact us here or call +1 (847) 849-2800 for a confidential discussion.
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