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| Election and Annual Meeting of the Credit Union |
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The 61st Annual Meeting of the Credit Union is scheduled for Thursday, April 3rd, 2008, in The World Bank’s I-Building, 1-200, 1850 I Street, N.W., Washington, D.C. The meeting will begin at 3:00 p.m.
In accordance with the Bylaws, members are elected to the Board of Directors by ballot. All members of the Credit Union at least 16 years old are eligible to vote. Ballots will be counted prior to the Annual meeting and the results will be announced at that meeting. This year there are four Director positions to be filled; three positions for terms expiring and one for the balance of an incomplete term (one year). The three candidates receiving the highest number of votes will be elected to the three-year terms and the candidate receiving the fourth highest number of votes will assume the incomplete term (one year).
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Samir Shah – Member. Credit Union Member since 2000. Current Position: Executive Vice President and Chief Risk Officer, Scottish Re Group, Ltd., a global reinsurance company. Education and Previous Work Experience: MS and BS in Industrial Engineering and Management Science from Northwestern University; Principal, Enterprise Risk Management Practice, and consultant to banks, insurance companies and non-financial institutions on risk and capital management, Towers Perrin-Tillinghast (1998-2007); Managing Consultant, Risk Management, Tenzing Consulting (1996-1998); Actuary and Financial Risk Manager, Watson Wyatt Worldwide (1994-1996); Foreign Exchange Trader, Korbean International (1993-1994); Consulting Actuary, Mercer Inc. (1988-1992); Consulting Actuary, Kwasha Lipton (Later acquired by Price Waterhouse Cooper) (1984-1988); Professional Risk Manager as certified by Professional Risk Managers International Association (PRMIA); Financial Risk Manager as certified by the Global Association of Risk Professionals (GARP); Fellow of the Society of Actuaries; Authored over 15 articles and chapters in textbooks and presented at over 25 industry conferences and seminars on risk and capital management.
Serge Besanger – Member. Credit Union Member since 1998. Current Position: President and CEO, Washington Institute of Finance. Education and Previous Work Experience: MBA in Accounting and Finance, Essec (1984); PhD in International Finance from Sorbonne (1988); 23 Years investment and operations management experience in global markets; CEO, Washington Institute of Finance (2000-present); Technical Assistance Expert, IMF-STI, Singapore,(Banking crisis, monetary operations, corporate and bank governance) (1998-1999); Chair, EU-Asia Committee (1996-1998); Managing Director, Janus Investments, Singapore (Investment finance, new financial instruments, mortgage finance) (1993-1998); Managing Director, Leroy-Somer, Emerson Group, Singapore (1984-1993); Financial Analyst, Bank of Boston (1984); Published numerous articles and books on corporate governance, bank governance, mortgage finance, new financial instruments, and international finance, including IMF WP 00-115; Served on various Board committees pertaining to strategic planning, financial control, budget, risk, audit, and remunerations including Fortune-100, Emerson, Inc.
John M. Underwood – Bank. Credit Union Member since 1984. Current Position: Consultant, Operations Policy and Country Services Vice Presidency for the World Bank since October, 2006. Education and Previous Work Experience: PhD in Economics from the University of Minnesota; Prior to retirement, was Director of Country Services in Operations Policy and Country Services, with responsibility of supporting Operations staff and Bank management on the results agenda, harmonization, country assistance strategies, development lending policy, and support to fragile states; Operational assignments in the Bank’s Middle East, North Africa, Latin America, and Caribbean vice presidencies; Economic research on debt and international finance issues; Section Chief at the US Federal Reserve Board before joining the Bank in 1984.
Stephanie Von Friedeburg – IFC. Credit Union member since 1992. Current Position: IFC Senior Manager, Telecoms and Media, within the Global Information and Communications Department; In charge of investments in communications infrastructure and media; Manages a team of 17, making debt and equity investments; Serves on the World Bank Group Appeals Committee. Education and Previous Work Experience: MA in Russian Area Studies from the Lauder Institute at University of Pennsylvania (1992); BS in International Economics from the School of Foreign Service at Georgetown University (1987); MBA in finance from The Wharton School (1992); Manager of IFC’s general manufacturing investments in Central and Eastern Europe (1998-2001); Joined the World Bank Group through IFC’s MBA Program working on South Asia, the CIS and Central Europe (1992-1998); Previously employed by Equitable Bank in a leveraged buy-out group in New York (1987-1990), and Continental Grain, working on the E3 Fund, one of the first private equity funds for Central Europe (1991).
David Ordoobadi – Fund. Credit Union Member since 1986. Current Position: Assistant Director, Finance Department, IMF. Education and Previous Work Experience: MBA (Finance) INSEAD, Diploma (Economics) LSE; M.Phil. (Politics) Oxford University; BA (Economics and Politics) Bowdoin College; Assistant Director, ICM; Division Chief, TRE; Deputy Division Chief, EU1; Senior Investment Officer, Investment Office; Economist, AFR; Economist Program 1986-88. Operations Officer, OPEC Fund for International Development; Chartered Financial Analyst; member, Washington Society of Investment Analysts; GCP, International Securities Market Association; member, Professional Risk Managers’ International Association.
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Graham Hacche – Fund. Credit Union Member since 1982. Current Position: Deputy Director, External Relations Department since September 1999. Education and Previous Work Experience: MA, University of Cambridge; M.Litt., University of Oxford; Asst Director, Division Chief, Research Department (1995-1999); Advisor, External Relations Department and Speechwriter for Managing Director (1992-1995). Assistant to the Director, Senior Economist, Economist, Research Department (1987-1992); Economist, Exchange and Trade Relations Department, Central Banking Department (1982-1987). Consultant, O.E.C.D. (1981-1982); Economist, Bank of England (1972-1982).
Krishnan Chandrasekhar – Bank. Credit Union member since 1985. Current Position: Senior Manager and Head of Asset Allocation and Quantitative Strategies, IBRD Treasury. Education and Previous Work Experience: MBA, Indian Institute of Management, Ahmedabad (1979); BS in Electrical Engineering from the Indian Institute of Technology, Madras (1977); World Bank EDP Program (1998-1998); Head of Derivatives and Financial Engineering/Asset Liability Management (1998-2002); Chief Risk Officer, Treasury Risk Management Group (1994-1998); Principal Financial Officer /Chief Investment Officer, IFC Treasury (1992-1994); Financial Officer/Senior Financial Officer/Principal Financial Officer, Swaps and Liability Management Division (1986-1992); Young Professionals Program (1985-1986); Pre-World Bank experience with ANZ and Citigroup, India (1979-1985); Extensive and wide-ranging treasury and finance experience.
Miguel Schloss – Member. Credit Union Member since 1982. Current Positions: Director, Advisory Board of Dalberg Global Development Advisors (2006); President of SurInvest Ltda. and Inmolibliaria Orquídeas SA, Chile (2007); Executive Committee Member
of Transparency International, Spain (since 2004); Advisory Board Member of International Private Water Association (since 2005). Education and Previous Work Experience: MBA (1968) Columbia University; Ingeniero Comercial (1966) and Lic. en Adm. Empresas (1965) Universidad Católica (Chile); Managing Director of DamConsult, USA (2003-2005); Executive Director of Transparency International (1998-2002); Advisory Board Member of Caspian Sea Revenue Board (2003-2004); Associate Editor of Oil, Gas & Energy Law Intelligence OGEL, U.K. (2005-2006); Division Chief of Industry and Energy in Technical Department (Africa), Telecommunications and Mining (global), and Corporate & Budget Planning of World Bank (1987-1997).
Amedee Prouvost – Bank. Credit Union member since 1984. Current Position: Senior Advisor to the Group CFO since July 2006; has worked at the Bank since 1984. Education and Previous Work Experience: MBA, Wharton School, University of Pennsylvania (1990); Graduate Degree in Economics and Statistics, ENSAE (Ecole Nationale de la Statistique et de l’Administration Economique) (1982); Director and CFO, MIGA (2002-2006); Manager, Resource Mobilization Department (2000-2002); Joined the World Bank in 1984 and worked in a broad range of treasury and resource mobilization functions; Member of the BFSFCU Credit Committee in the late 80’s.
Martin Cihak – Fund. Credit Union Member since 2000. Current Position: Senior Economist, European Department, IMF. Education and Previous Work Experience: PhD, Economics, 2002, Center for Economic Research and Graduate Education (CERGE), Prague; PhD, Economics, 2002, The University of the State of New York, New York; MA, Law, 2000; Faculty of Law, Charles University, Prague; MA, Economics, 1996; Faculty of Social Sciences, Charles University, Prague; BA, Economics, 1994; Faculty of Social Sciences, Charles University, Prague; Various research/study stays, including at the Cambridge University, Cambridge, England (1997), and Uppsala University, Uppsala, Sweden (1994); IMF’s Monetary and Capital Markets Department (focusing on quantitative measurement of financial soundness of banks) (2001-2007); IMF’s EU1 Department (2000-2001); Analyst/Head Analyst, Komercní Banka, Prague (the largest commercial bank in the country at the time) (1994-2000); University Lecturer, Charles University, Prague; and Prague School of Economics, Prague (1998-2000); Ad-hoc Adviser to Minister. Ministry of Justice, Prague (1998); Numerous papers, articles, and conference presentations on financial soundness of banks, including stress testing, market-based indicators, and early warning systems.
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Nomination by Petition
Nominations may also be made by petition. Any petition for nominations must be submitted to the Secretary of the Board of Directors, c/o Bank-Fund Staff Federal Credit Union, Room MC C2-300, at the World Bank by close of business, Friday, Febrary 8, 2008. The following items must be provided for nomination by petition:
- A petition signed by at least one percent of the Credit Union’s members with a maximum of 500. Signatures will be verified by the Credit Union and, for this purpose, each member signing a petition must print their name and Credit Union account number beside or under their signature.
- Information on the nominee in the following format, which has been approved by the Board of Directors: Name; Present Employer; Current Position; Credit Union Member since; Education and Work Experience; and, in 25 words or less, Other Qualifications.
The names of all the nominees will be posted in the lobby of the Credit Union by Friday, February 22, 2008. Ballot and voting information will be mailed to members by Friday, February 29, 2008.
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