Susan LaMonica’s journey to becoming the Chief Human Resources Officer (CHRO) at Citizens Financial Group is a testament to the value of versatility and adaptability in one’s career. Starting at JPMorgan in 1985, LaMonica’s career was initially focused on operations, technology, and risk management. However, an opportunity to transition into a human resources role revealed her passion for the field, leading to a significant tenure at JPMorgan where she concentrated on development, leadership, diversity, culture, and organizational change. Her final years at the bank saw her in HR business partner roles, eventually becoming a managing director and HR executive for the global markets and investment banking division.
After a five-year hiatus, LaMonica reentered the banking industry, taking a pivotal role at the Royal Bank of Scotland, which included oversight of HR for Citizens before it was spun off and went public in 2014. As CHRO of Citizens, headquartered in Providence, Rhode Island, she has played a crucial role in integrating employees from mergers and acquisitions, fostering a culture that emphasizes teamwork, collaboration, and a customer-centric approach.
Citizens’ strategic focus on expanding its fee income businesses, particularly wealth management, has led to a series of acquisitions under LaMonica’s HR leadership. These acquisitions include Clarfeld Financial Advisors and Paladin Advisors, significantly bolstering Citizens’ capabilities in serving ultra-high net worth clients. Additionally, the acquisition of senior private bankers from First Republic Bank highlights Citizens’ commitment to enhancing its private banking services.
Central to LaMonica’s approach is ensuring that new talent aligns with Citizens’ culture, which she describes as scrappy and collaborative, with a strong emphasis on customer experience and community involvement. This focus extends to offering innovative benefits like the “community sabbatical” program, which allows employees to take time off to volunteer, underscoring the bank’s commitment to social responsibility.
The integration process for new employees involves thorough assessments of cultural fit, personalized orientation sessions, and an open dialogue to ensure a smooth transition. LaMonica’s philosophy also embraces the potential for new hires to contribute fresh perspectives, indicating a willingness to adapt and evolve the company’s practices based on the strengths of its workforce.
Under LaMonica’s leadership, the emphasis on effective leadership and a vibrant, inclusive culture is paramount. This approach not only helps new talent integrate successfully but also ensures that Citizens’ values and strategic objectives are reflected throughout the organization, from top to bottom.
