Fractional (Interim) Executive
What is a Fractional Executive?
A Fractional Executive fills an executive position as a contract employee for a temporary engagement, typically six months to three years. A Fractional Executive will give your credit union the tools it needs to complete strategic initiatives while providing the relevant insights that can jump-start your efforts. Their expertise will be able to guide you in the right direction to grow, differentiate, or transform your credit union.
When do you need a Fractional Executive?
- You have one or more complex strategic initiatives with an end date, and the C-suite salary and benefits will no longer be needed.
- You’ve outgrown your business model, charter, or FOM and need to level up.
- You have experienced managers in operation, marketing, retail delivery, or data. Still, the credit union needs to include the strategic skills required for a C-suite executive, and they need to be mentored and coached to the next level.
- You’re looking to delegate operational or marketing duties you have managed to date, but it can be a part-time role.
- There was a sudden, unplanned departure of a key executive, and there is a need for leadership and execution continuity while a search for a permanent hire is completed.
- Your current team needs to gain the experience to deliver critical initiatives that will dramatically change your credit union.
- The credit union needs to hire a key executive but wants to postpone or refrain from taking on the total weight of the executive compensation package.
- You know the credit union needs to pivot, but your current team needs the innovative mindset to discover and move forward in a new direction.
- The credit union has a primary strategic objective that crosses many silos and needs one person to own the cross-functional work that is involved in the aim to drive it to completion.
Choosing a Fractional Executive is an excellent way to drive strategic plans forward efficiently and effectively. The Fractional Executive brings expertise, and innovative thinking, with specific expectations on what is expected from the role.
The monthly fee of $30,000 is paid via 1099. As a remote role, any agreed-upon travel expenses will be invoiced as incurred.