Patelco Credit Union has hired Richard Wada as its senior vice president (SVP), chief lending officer (CLO), headlining executive leadership changes at the credit union that includes the promotion of Sue Gruber to executive vice president (EVP), chief financial officer (CFO).
“Richard Wada has shown a passion for transformative growth and portfolio value creation, which he has achieved in previous roles by successfully aligning strategy, people, process and technology,” said Patelco’s President and CEO, Erin Mendez. “That experience, paired with Gruber’s promotion, will enable Patelco to more effectively serve our member base by helping each member achieve their respective personal financial goals.”
As CLO, Wada will be responsible for all credit and lending functions, and will own – along with the Patelco vice presidents of lending group – the overall loan portfolio management. He and his teams will direct the quality, growth, market competitiveness, risk management and asset diversity for consumer lending, mortgage lending and business loan portfolios. Wada is also tasked with ensuring that the strategic direction and execution of the lending business aligns with Patelco’s mission to fuel hope and opportunity for its members’ lifelong financial wellbeing.
Prior to joining Patelco, Wada served as director of global unsecured lending within Citigroup’s global consumer group across four regions and 17 countries. Previously, he held various roles within Citigroup tied to marketing, product strategy, business development and business transformation. Wada has a Bachelor of Arts degree from Williams College and a MBA from Columbia Business School.
Gruber, who has added the title of EVP to her role as CFO, acquires additional responsibility for strategic planning, risk management and internal audit functions.