Women On Board

Director Profile

Geri K. Prior FCPA ICD.D

Board Value Proposition: 

A seasoned CFO with experience in the highly regulated property and casualty insurance industry.
 

C-Level Experience

  • Over 15 years as CFO, has worked with a number of Board Chairs, directors, multiple CEOs, and two governments.
  • as a member of the executive committee, made significant contributions to strategic planning and execution.
  • Interim CEO for 7½ months during high-profile investigation with media coverage. Successfully led company through crisis.

Change Management and Major Projects

  • CFO throughout $400 million transformation program of 38 projects over the past six years, delivering a claims system, rating engine, portal, upgraded infrastructure, new data warehouse, and security, and currently finishing the last project, which is the policy and administration system.
  • Led ICBC’S financial framework, which involved cost reductions of 25%, including a 20% reduction in staffing, while maintaining control of claims costs and service levels. While CFO, total operating costs have not increased for the last three years, with overall rate increases averaging approximatley 1% per year over the last 10 years, in a full tort system with increasing legal representation and claims costs.
  • Introduced corporate risk management framework to organization and board, and worked through risk idenfitication/assessments, aligned risk tolerances, and built "deep dives" of key risks into board meetings. 

Governance and Audit Committee Experience

  • Experience serving on audit, finance, risk management, and governance committees
  • In-house instructor for both the ICD’s Audit Committee Effectivenes and Boardroom Financial Essentials over for the past three years.

Character and Integrity

  • Work collaboratively with others, clear communicator, ask probing questions regarding key assumptions and facts leading to decisions, and known for integrity and transparency.     

Industry Experience: 

  • Insurance
  • Property And Casualty Insurance

Board Experience:

Corporate Boards:

WesternOne 2017 to Present
Chair, Audit Committee

Additional Boards:

YWCA, Greater Vancouver 2014 to Present
Chair
Vice-Chair (Past)
Finance, Audit and Investment Committee (Past)
Governance Committee (Past)
Capilano University Foundation 2014 to Present
Chair
Capilano University 2010 to 2013
Vice-Chair
Chair, Audit Committee
Investment Committee

Biography: 

ICBC 1987 to 2017
Chief Financial Officer
Interim President and Chief Executive Officer and CFO, 2008
Assistant Vice President, Operations Change Management
Project Manager, Cost Containment Project
Manager, Claims Planning and Change Management
Manager, Claims and Information Services Audit
Deloitte 1983 to 1986
Various

Education: 

ICD.D, Institute of Corporate Directors, 2010
Queen’s Executive Leadership Program, 2004
CA, Canadian Institute of Chartered Accountants, 1986
BCom, University of BC, 1983