USAA, which offers insurance coverage, banking and retirement options to members of the military and veterans, has named Jeff Wallace its new chief financial officer Tuesday. “It is a great honor to recruit the USAA team,” Wallace said in a press release. “Our mission is inspiring, as are the knowledgeable staff at the Chief Monetary Workplace, and I look forward to starting working with them in service of the USAA and our members.”
Wallace joins the USAA, based in San Antonio, Texas, after working for Bank of America, where he was most recently CFO of Shopper Banking and International Wealth and Funding Administration. In this role, he led the reengineering of Bank of America’s monetary methods, forecasting and planning processes. Wallace brings “vital monetary data and management, business expertise and strong advocacy for building people and groups,” USAA CEO Wayne Peacock said at the launch.
Wallace succeeds former CFO Laura Bishop, who retired in February after nearly 20 years at the USAA.
Perception of the dive:
“The mission-driven business method of the USAA can be very interesting,” Wallace wrote in an email. “Although the pandemic creates particular challenges, my expertise in major giant financial groups through significant market and financial difficulties should serve me effectively at the USAA.
Wallace’s experience in banking and investments has given him “vital expertise in streamlining work processes and simplifying group methods, in addition to working with federal regulators,” the company said.
He started his career as Vice President of Finance at Constancy Investments, before moving to the role of CFO of Americas Asset Administration for Deutsche Bank. He later moved to the role of CFO of the Impartial Brokerage Group within Wachovia Securities, before landing at Bank of America, where for 13 years he held many positions including Controller, CFO of global industry. how and operations, and chief financial officer of global infrastructure.
Wallace also brings his expertise to outreach and inclusion efforts; he was a member of the advisory board of the Society for Nonprofit Affiliation of Latino Professionals for America.
Wallace had an all-digital integration, but mentioned the model, popularity and direction of the USAA mission “persistently and clearly” in his conversations with others within the company. “I can’t tell you how keen I am to meet everyone in particular as quickly as possible,” he added.
One of Wallace’s top priorities in the new role will be to interact with his team as often as possible, he wrote. “We will take advantage of video know-how to continue to promote a neighborhood style throughout the CFO group. “