Massey Henry is pleased to once again support Central 1, this time in the recruitment of its President & Chief Executive Officer (“CEO”).
Location: Vancouver / Toronto
About Central 1
Navigating change. Delivering progress.
Central 1 is a financial services organization that serves as a primary treasury and payments provider to more than 280 financial institutions and financial service companies.
With assets of $9.2 billion as of March 31, 2026, Central 1 provides payments, clearing and settlement, and treasury services at scale to enable a thriving financial services ecosystem.
Purpose & Vision
- Purpose: To enable banking choice for Canadians.
- Vision: To be a thriving and growing national payments and treasury business who is a trusted partner for Canada’s credit unions, fintechs and other financial service providers.
Core Principles
Central 1’s role as a financial utility provider is centered around these core principles:
- We are a wholesale financial services provider, dedicated to our clients’ success.
- We aggregate scale to maximize cost efficiencies and reduce barriers.
- We offer integrated banking services to improve efficiency by delivering end-to-end payments, clearing and settlement, and treasury services.
Products & Services
Central 1’s products and services are delivered through two core lines of business:
Payments and Treasury .
Payments
- Securely managing and processing more than $1 billion in payments every day on behalf of more than 250 clients , Central 1 offers a full suite of account-to-account payments solutions including Interac e-Transfer®, bill payments, electronic funds transfer, wires, cheques, shared-network fraud intelligence, and AML screening.
- Central 1 supports end-to-end payments processing, including transaction clearing and settlement, infrastructure, and operations managed on their client’s behalf.
Treasury
- Central 1 provides investment, lending, liquidity and risk management products and services that support the financial strength and stability for clients and system partners.
- Through disciplined balance sheet management, diversified market access, and deep expertise, Treasury enables clients to achieve their financial goals and manage their risks effectively while continuously evolving to meet the needs of the communities they serve.
Looking Ahead
In 2025, the board and management redefined Central 1’s three-year strategy with a
bold ambition: to be a thriving and growing national payments and treasury business . The strategy focuses on expanding Central 1’s value proposition, increasing scale, and serving a broader range of challenger financial service providers that will bring value to credit unions too.
Central 1’s Strategy outlines the path to achieving their purpose and sets their aspirations over a three-year period, serving as the foundation for Central 1’s strategic initiatives and guides the efforts of each line of business in aligning with their overarching goals.
Central 1’s 2026-2028 corporate strategy is rooted in four strategic priorities:
- Attract and Retain Clients through competitive offerings and differentiated service
- Ensure Financial and Operational Resilience through risk and cost management
- Build a High-Performance Culture through people and process development
- Amplify Scale, Capability, and Value through technology and market partnerships
In alignment with this strategy, Central 1 has expanded its ability to serve organizations beyond the credit union system with payments product and service offerings over the past two years. These additional payment volumes help fund the scale and ongoing investment required to support the infrastructure used by all clients and members. Central 1 also onboarded major fintechs to its payments offerings and established a strong pipeline that reflects the value Central 1 brings to the broader financial services ecosystem.
Regulatory and Governance Structure
Central 1’s board of directors (“board”) and executive leadership team (“ELT”) guide the organization’s strategic direction with the following responsibilities:
- The ELT guides the organization through transformation and growth , leading with empathy, collaboration, and a strong focus on the future. With a client-first and values-driven approach, they provide strategic direction to amplify Central 1’s scale and capability to deliver the financial and operational resilience that serves millions of Canadians nationwide.
- The board provides the guidance that drives the organization forward with a collaborative, future-focused approach. Their diverse expertise in financial services, payments, technology, and growth services complements the organization’s credit union roots, enhancing their ability to lead Central 1 into the future.
The Opportunity
Central 1 is at a pivotal moment in its evolution. With a redefined strategy and deep partnerships across Canada's financial services sector, including with challenger institutions, the incoming Chief Executive Officer ("CEO") will define and advance a focused strategic narrative for the organization, leading Central 1 through a period of transformation while balancing the evolving needs of its clients with future growth opportunities.
The incoming CEO will lead Central 1 through an important transformation: transitioning into a commercially diversified partner across the financial services ecosystem, powered by a cooperative model reimagined for today’s competitive market.
Reporting to the board of directors, the CEO will provide both strategic and operational leadership for the organization. Working closely with the board, executive team, clients, regulators, and external stakeholders, the CEO will build on the progress made in recent years to further strengthen Central 1's market position, sharpen organizational focus, and drive sustainable long-term growth.
Significant foundational work has been completed, including the refinement and clarification of strategic priorities, investments in core capabilities, and the strengthening of key business segments.
The opportunity now is for a leader who will
bring focus alignment, and disciplined execution to the next phase of the organization's evolution, while ensuring a clear strategic narrative for internal and external stakeholders alike.
As the face of the organization,
the CEO will act as Central 1's chief storyteller, communicator, and ambassador , aligning employees, member credit unions, regulators, partners, and the board around a shared vision for the future. Success will require strong commercial judgment, exceptional stakeholder management capabilities, and the ability to lead a complex organization through a dynamic and rapidly evolving financial services environment.
Key Priorities
Critical priorities for the incoming CEO include:
Provide Strategic Leadership and Focus
- Establish clear organizational priorities and ensure disciplined execution against defined strategic objectives.
- Align key stakeholders – both internal and external - around a shared vision while balancing the needs of member credit unions with broader market opportunities.
- Communicate a compelling strategic narrative that clearly articulates Central 1's purpose, priorities, and future direction.
Build Confidence and Credibility
- Strengthen trust and confidence among members and clients, regulators, employees, partners, and the board.
- Serve as a visible and credible leader who communicates openly, transparently, and consistently.
- Reinforce Central 1's position as a valued partner within Canada's financial services ecosystem.
Drive Execution and Transformation
- Ensure successful delivery of key strategic and operational initiatives across the organization.
- Foster a culture of accountability, performance, and continual improvement.
Strengthen Relationships and Navigate Growth Opportunities
- Deepen relationships with key member credit unions and strategic customers, maintaining a thoughtful balance between serving member needs and pursuing opportunities that support the organization's long-term sustainability.
- Support the development of new growth opportunities that complement Central 1's core capabilities, optimizing existing delivery channels while building a disciplined pipeline of enterprise clients beyond traditional member institutions.
- Advance long-term revenue diversification and strengthen Central 1’s relevance in the broader financial services market.
Enhance Culture and Employee Engagement
- Engage and unite the executive leadership team and broader employees around a shared vision and clear set of priorities.
- Build a high-performing culture characterized by accountability, collaboration, and service excellence.
- Strengthen employee engagement across the enterprise.
The Individual
The successful candidate is a seasoned executive with
strong commercial and transformational leadership capabilities , and a proven track record of leading complex, stakeholder-rich organizations through periods of strategic change, growth, and evolution.
The next CEO will bring a customer-centric mindset and a broad understanding of the financial services, payments, technology, or adjacent sectors. They will possess
exceptional stakeholder management skills, along with the credibility , judgment, and gravitas required to operate effectively in a highly regulated and relationship-driven environment.
The CEO will
balance strategic vision with disciplined execution , providing clarity, focus, and direction across several key priorities and initiatives. They will have demonstrated success building trust with boards, regulators, clients, employees, and partners, while aligning diverse stakeholders around a shared vision for the future of the organization.
A visible and engaging leader, the successful candidate will
foster a culture of accountability , collaboration, and high performance, while inspiring confidence across the executive team and broader organization.
As the face of Central 1, the CEO will
serve as the organization's chief ambassador ,
communicator, and storyteller , articulating a compelling strategic narrative and aligning employees, clients, regulators, partners, and the board around a common vision for long-term success.
Key Qualifications
Executive Leadership
- Significant executive leadership experience within a complex, stakeholder-driven organization , ideally within financial services, technology, or adjacent sectors.
- Demonstrated senior/executive leadership experience in a regulated financial institution environment, with exposure to treasury, payments, or adjacent financial services businesses.
- Knowledge and understanding of the credit union ecosystem and cooperative financial services model.
- Demonstrated success leading organizations through periods of transformation, change, and growth, including overseeing the execution of large-scale strategic initiatives.
- Experience working closely with boards of directors, senior executive teams, and external partners to drive disciplined execution of key priorities.
- Familiarity with the credit union ecosystem is considered an asset.
Commercial and Strategic Orientation
- Strong commercial acumen , with a demonstrated ability to identify growth opportunities, strengthen customer relationships, and support sustainable business performance.
- Experience translating strategy into clear priorities , organizational alignment, measurable outcomes, and disciplined execution.
- Ability to balance short-term operational demands with long-term strategic objectives.
Stakeholder Management and Influence
- Proven ability to build credibility and trust with diverse stakeholder groups , including clients, regulators, industry partners, employees, and boards.
- Exceptional communication and relationship-building capabilities , with the ability to navigate complex stakeholder environments and competing interests.
- Experience serving as the organization's chief ambassador, communicator, and storyteller.
Additional Preferred Experience
- Experience leading large-scale business, operational, technology, or organizational transformation initiatives.
- Experience operating within a highly regulated environment and engaging with regulatory bodies.
- Experience establishing strategic partnerships , alliances, joint ventures, or other growth-oriented commercial arrangements.
- Understanding of cooperative business models, member-based organizations, or the Canadian credit union system.
- Experience leading organizations through periods of significant market, industry, or business model evolution.
Education
- Bachelor’s degree in Business Administration, Commerce, Finance, Economics, or a related discipline is required.
- An MBA, Master’s degree in a relevant field, or recognized professional financial/corporate governance designations (e.g., CPA, CFA, ICD.D) is considered an asset.
Personal Attributes
- Credible and Trustworthy Leader: Builds confidence quickly through authenticity, integrity, transparency, and sound judgment.
- Strategic Thinker and Storyteller: Able to articulate a compelling vision, align stakeholders around a common purpose, and communicate effectively across diverse audiences.
- Commercially Minded: Recognizes and pursues opportunities that strengthen organizational sustainability and long-term growth.
- Transformation-Oriented: Comfortable leading through ambiguity and change while maintaining focus on execution and results.
- Decisive: Establishes priorities, makes difficult decisions when required, and drives accountability across the organization.
- Collaborative and Inclusive: Engages others, builds consensus where appropriate, and fosters strong relationships across a broad stakeholder ecosystem.
- People and Culture Leader: Fosters an environment of accountability, engagement, collaboration, and high performance.
- Resilient and Adaptable: Maintains focus and effectiveness through periods of complexity, change, and evolving stakeholder expectations.
