Former Bank Exec Looks to Empower Risk Professionals in New CU Role

Name: Jeff Prelle

Credit union: First Tech Federal Credit Union ($16.8 billion, San Jose, Calif.)

Title: Chief Risk Officer

Number of years at current credit union: Three months

Educational background: MBA in Accounting and Finance from the University of Connecticut School of Business in Storrs, Conn., Bachelor of Science from the Smeal School of Business at Pennsylvania State University in University Park, Pa., and an Executive Leadership certification from the Olin School of Business at Washington University in St. Louis, Mo.

CU Times: What are your key responsibilities in your current role?

Prelle: As Chief Risk Officer, I oversee Enterprise Risk Management and lead measuring and reporting risk management for First Tech. In this new role, I lead key parts of our Credit Risk Management, Cyber and Risk Management divisions, as well as other second-line defense operations. I’m the primary executive responsible for assessing risk management for the credit union, supporting sustainable enterprise growth, and service to members and employees.

CU Times: What drew you to the credit union industry?

Prelle: I was drawn to the credit union industry because the owners of the credit union are the members. Therefore, there’s no conflict of interest between ownership and serving our communities. I believe credit unions, and First Tech especially, are designed to meet our members’ needs at every phase of their financial journey, helping them to achieve their dreams. I’ve also always admired First Tech’s work, not only in how they serve their members but in how they’ve given back so much to the community. This is why First Tech felt like a great fit for me.

CU Times: What unique skills, experience and attributes do you bring to your role?

Prelle: As an intellectually curious person, I have been granted so many wonderful opportunities over the course of my career, and I hope that I’ve made the most of each one. It started by completing PhD coursework for accounting, finance, economics and even actuarial science, which got me quantitatively grounded, but I stayed curious to learn about other areas. When opportunities arose outside of my comfort zone, I viewed each one as a chance to learn and a way to strengthen an organization through efficiency creation. As a result of staying curious, I have been blessed to consult for some of the largest organizations in the country with Moody’s Analytics and be the Enterprise Risk Executive at a thriving $50 billion bank, Cadence Bank.

CU Times: Which person (or people) do you credit the most for helping and supporting you along your career journey?

Prelle: I can honestly say my wife is my biggest support mechanism. There have been so many great people in my career who have helped me along my professional journey, and I have approached every one of those interactions as an opportunity to develop and change. However, due to this goal of constant improvement to refine my skills and habits, I find myself being my harshest critic. My wife pulls me back when I am being too hard on myself and is my compass when I become overly emotional.

CU Times: What are some of the biggest differences between working in your current executive level role and your previous, non-executive roles?

Prelle: I think the biggest difference between executive roles and non-executive roles is time management, and the amount of time and care devoted to the development of your employees and specific areas. To be successful with this, it’s important to surround yourself with people who are reliable subject matter experts and motivated to achieve a unified goal for the members, while actively supporting the culture of the credit union.

CU Times: What’s a challenge you faced when you first joined your executive team, and how did you overcome it?

Prelle: My biggest challenge was getting acclimated to First Tech’s decisioning infrastructure. Any time you join an organization, you want to tread carefully to become acclimated and supportive of the culture. My first step was to conduct a thorough reading of policies and procedures but mainly meet my teams, perform assessments and seek organizational stakeholders in the credit union to establish the critical partnerships that help to make a credit union exceptional.

CU Times: How would you describe your current leadership style?

Prelle: I approach each situation differently as well as strive for thoughtful transformation and constant improvement. I also follow a data driven decision–making approach, in an attempt to achieve accountability while pushing for collaboration.

CU Times: Do you approach your job any differently now compared to how you did pre-pandemic? If yes, how so?

Prelle: I’ve become more communicative than I was pre-pandemic because I can no longer stop by someone’s office as often to ask questions. I also look for more detailed personnel development plans and tactics from my leaders that address conveying the culture of giving and collaboration at First Tech. New employees are especially susceptible to not feeling a part of the culture since starting remotely makes it harder to establish your niche or fingerprint as a part of a new team.

CU Times: What’s next for you on your executive career journey? Do you have any specific career goals you’re working toward?

Prelle: My immediate goal is to empower my dynamic and selfless team of risk professionals to further foster an environment that promotes safe, secure and seamless experiences for our members. A longer-term goal includes actively coordinating the respective risk area reporting into a more cohesive picture of risk for the credit union. In turn, this will help minimize downside volatility and optimize the risk opportunities taken.

CU Times: What big-picture impact do you hope to make within your credit union, as well as for your members and community?

Prelle: My next step is to continue helping establish First Tech Federal Credit Union as an admired financial services industry leader that supports its members, while also continuing to propel community and charitable giving initiatives. First Tech embodies the service to our membership and communities, in which we serve by reinvesting in our employees. As a result, our employees have responded with record levels of community support throughout the past few years. I would like to embed myself as a part of the fabric of this community and continue fostering the culture of giving especially for the communities we operate and serve.

CU Times: What career advice would you give your younger self?

Prelle: The choices available to you tomorrow are dictated by the decisions you make today.

Would you or someone you know like to share your journey to credit union leadership? Please reach out to Natasha Chilingerian at nchilingerian@cutimes.com. To qualify, you must have been placed or promoted into a new senior-level leadership role within the last three years at a credit union.