KLR Executive Search is proud to partner with HarborOne Bank for the search of Member of the Board. Founded in 1917, our long-time Client, HarborOne (www.harborone.com), is a $2.8 billion asset publicly traded community bank with a market capitalization of over $550 million. The Bank’s parent, HarborOne Bancorp, Inc. (NASDAQ: HONE), was established in 2016 in conjunction with its conversion from mutual to stock ownership. HarborOne has a strong, well-regarded brand and is viewed as a “bank on the move.” Our Client offers an integrated suite of services tailored to meet the financial needs of clients through every phase of their life, career, and business.
• HarborOne is financially strong, profitable, and well capitalized. There is a very good diversification of income and risk between Retail, Commercial Lending, and Residential/Consumer Lending with significant growth opportunities.
• The Bank is on the move, as demonstrated by its recent acquisitions. Further, this dynamic, publicly-traded Organization has access to additional capital if/when needed.
• HarborOne has consistently received outstanding CRA ratings from the FDIC.
• For nine years running, the Bank has been voted one of the “Best Places to Work” in the Boston Globe survey. In addition, Forbes Magazine recently named HarborOne the “Best Bank in Massachusetts.”
Goals and Objectives of the Board Position:
• To fulfill the legal requirements for HarborOne’s corporate governance.
• To represent the interests of all HarborOne’s stockholders in the governance of the Corporation.
• To participate with other Directors in the establishment of policy for the Company, and in monitoring its implementation.
• To serve as a resource to the Executive Management team as they continue to expand the business with organic growth, new product development, and acquisitions.
• To evaluate with other Directors the performance of the CEO and President/Chief Operating Officer, based upon performance against standards established by the Board.
• Board and Committee Meetings: Directors are responsible for attending Board meetings and Committee meetings they serve on. Further, they must devote the time needed, and meet as frequently as necessary, to accomplish their responsibilities.
• Do not abandon unpopular positions in the deliberation of the Board merely for the sake of harmony and, when appropriate, play “devil’s advocate.”
• Avoid even the appearance of conflict of interest. Limit or decline par¬ticipa¬tion in other offices and activities that may interfere with the fulfillment of these duties and responsibilities.
• Make sure, in reviewing the plans and strategies proposed by the CEO, President/COO, and/or CFO, that achievement of short-range goals will not jeopardize the long-term welfare of the Cor¬poration.
• Consider the welfare of the Corporation as a whole in the deliberations of the Board, and ensure that the resources of the Corporation are applied impartially and on their merits to the needs of the various corporate functions.
• The Board is seeking a professional who has one or more of the following skill sets:
o Financial acumen to be a “Financial Expert” on the Audit Committee given his/her understanding of the nuances of sophisticated and complex accounting, auditing, internal controls, and SEC regulations.
o A technology background and knowledge of best practices to add value in understanding trends and where the banking industry is going would be highly beneficial.
o A compliance and/or regulatory background could also be valuable.
• Having experience in a company of scale that is multi-site, consumer facing, and/or operates in a regulatory environment is a plus