Finance Monthly CFO Awards 2016 Winners Edition

www.finance-monthly.com Denise McGlone CFO of PenFed Credit Union About Denise McGlone Denise McGlone is PenFed Credit Union’s Chief Financial Officer. Denise is a seasoned executive whose corporate experience includes CFO and senior level Treasury positions at various organizations. McGlone’s corporate positions are complemented by 10 years on Wall Street building and managing global derivatives units. McGlone is a recognized leader in the derivatives market and she served on the International Swap Dealer Association (ISDA) Board of directors; represented industry to Bank for International Settlement (BIS), US Congress, FASB and other governmental bodies. As CFO of Sallie Mae, McGlone managed a $50 billion balance sheet and a $10 billion derivatives portfolio. Sallie Mae was an early adopter of derivatives and employed the tool to access cheaper funding and match assets and liabilities. Denise’s expertise enabled Affinity Federal Credit Union to secure derivatives authority and successfully execute transactions to reduce Interest Rate Risk (IRR). McGlone’s Wall Street experience includes: Global Head of Derivatives / Executive Vice President, Dai Ichi Kangyo Bank, New York, NY; Co-head Global Derivatives / Managing Director, Security Pacific National Bank; and Vice President, Marketing and Trading, Global Derivatives, First Chicago Corporation, Chicago, IL. Each of these institutions had large multi-product/multi-currency portfolios and McGlone was instrumental in setting up the systems, operations, legal documents, financial controls and credit risk management frameworks necessary to support large global operations. Managing the book required hedging to minimize capital at risk arising from pay fixed/receive fixed clients. During Denise’s Wall Street tenure, McGlone advised major corporations on the utility of interest rate and currency derivatives to mitigate risk or secure access to cheaper funding. In addition, Denise was an expert witness on derivatives lawsuits. Special recognition includes: Three Alexander Hamilton Awards for “overall excellence in treasury management, financial risk management and cash management; 100 Most Influential People in Finance—Treasury and Risk Management Magazine; 50 Most Influential Risk Managers—Risk Magazine; CFO Superstars of 1997— Global Magazine; Euromoney’s Top 50 Women in Finance; Recipient—Women’s Bond Club Merit Award and Top 40 Bankers under 40—American Banker. Areas of Expertise: As the chief architect of PenFed Credit Union’s financial strategy, Denise understands just how critical technological innovation is for the credit union. PenFed members using web and mobile devices account for 85 percent of all transactions. PenFed was an early adopter of the technology that enabled its members to conduct secure wireless financial transactions. Denise has nested her financial strategy within the overarching PenFed strategy which is designed for success in the virtual space. Denise is funding investments in systems designed to meet the ever- increasing volume of web and mobile traffic and has given them a top priority. This is especially key because PenFed operates just 13 percent of the number of physical branches that its largest credit union competitor does. Denise’s forward thinking also has a focus on internal investments designed to provide the PenFed workforce with the requisite technological applications to enhance productivity, collaboration and agility. Denise’s ability to see clearly across the entire organization and understand the challenges faced by each department is truly impressive. Denise is driven by an unwavering commitment to team play, fairness and integrity that has helped Denise form strong relationships throughout the firm. Denise’s knowledge, Wall Street credentials, breadth and depth of experience in finance has inspired the utmost trust and confidence from PenFed’s Board of Directors with regard to Denise’s abilities. USA Finance Monthly CFO Awards 2016 Firm Profile PenFed Credit Union’s guiding philosophy is simple—take perfect care of the members, keep the institution safe and sound, create a work environment fitting of a destination employer by hiring, training and inspiring the best and brightest employees—all while serving as a community leader—this straightforward, no nonsense approach has become a powerful mantra that has propelled PenFed Credit Union across the threshold of $20 billion in assets and 1.4 million members worldwide. Established in 1935 as the War Department Credit Union, PenFed Credit Union is one of the largest credit unions in the country. Its long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members’ needs. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members’ interests always in mind. Contact Details Denise McGlone CFO at PenFed Credit Union Web: www.penfed.org 38