Sean Daly is the newly appointed executive vice president and chief financial officer at People’s Credit Union in Middletown. Daly, who’s worked in various industries, talks with Providence Business News about the new position, his professional background and the credit union’s finances.
PBN: Congrats on the new position, what are your new responsibilities?
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DALY: I am directly responsible for finance, collections and facilities functions at People’s Credit Union. I have a shared responsibility for the overall direction and strategy of the organization.
PBN: Can you tell our readers a little bit about your professional background, and what qualifies you for this position?
DALY: My background includes large financial institutions, community banking, and startup/turn-around companies in various industries. I feel my diverse experience informs my decision-making and collaboration. Additionally, I understand the critical importance of having an effective team across the organization that understands and is motivated by the mission, core values and strategy.
PBN: What’s your strategic vision for the credit union’s finances?
DALY: Because of the intricacies of managing a complex balance sheet and related risks, a strong finance team is critical for a credit union’s success. Properly managed, finance can be a strategic strength of an organization. I hope to leverage the good work the finance team is doing today and look to continuously improve our ability to effectively deliver for the organization in the future. It is not just about reporting the results, but working with a team to understand where the organization came from and where it is today, to build a strategic plan for the future.
PBN: From a fiscal point of view, how would you characterize People’s Credit Union’s strengths?
DALY: People’s is in an excellent position, especially having managed through the 2008 downturn and maintaining a strong capital position and consistent growth. Additionally, People’s Credit Union has a great footprint in Rhode Island; loyal members, engaged employees, competitive products as well as solid operations. They have all the key ingredients for continued success.
PBN: What are its biggest challenges, and how do you see yourself contributing to solving those challenges?
DALY: The biggest challenges are managing the ever-changing regulatory landscape, impacts of a rapidly evolving financial technology and the uncertain economic climate, while still delivering on our mission. I hope to contribute to managing these challenges by sharing insights built from my diverse experiences and effectively collaborating with the team to together build a successful strategy designed for continued long-term success.
Eli Sherman is a PBN staff writer.
