Rick Otero is a hands-on marketing, operations, and process innovation executive with over 25 years of demonstrated success defining and implementing creative approaches to expanding market presence, increasing profitability, and improving a wide-range of financial service and general businesses. He has a track record of leading and delivering results oriented business transformation in a variety of growth curve conditions and across many functional areas. Rick is EVP, Services and Customer Experience for Capital One Bank, a top ten US bank that generates $4 billion in revenue, $ 115 billion in deposits, and over $70 billion in loans through more than 1000 branches in Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Texas, and Virginia.Ricks accountabilities include oversight of the banks customer experience, bank mergers & acquisitions, distribution strategy, sales performance and incentives, and continuous business improvement. He recently led due diligence for the successful acquisition of Chevy Chase Bank. Previously, Rick was the EVP, Marketing and Services for Capital One Bank, leading the banks marketing and business development. Prior to that he served as the Chief of Staff and interim COO for the bank directing the North Fork Bank merger integration, coordinating cross-bank and cross-enterprise initiatives, and overseeing bank deposit, loan, and treasury operations.Before joining Capital One in May of 2007, Rick was the Business Banking Sales Executive at Bank of America, where he directed sales performance for a $2.1 billion revenue segment. Under his direction, the sales team delivered value-added solutions and personalized service to business clients with annual revenues between $2.5 million and $20 million. During his tenure at Bank of America, Otero also led process integration for Card Services integrating MBNA and National Processing Company into Bank of America. His prior Bank of America roles included the largest commercial channel migration in the history of banking and marketing acquisitions and sales effectiveness for Consumer & Small Business, Premier, Private, and Commercial Banking. His projects resulted in improved customer acquisition, accelerated de novo speed-to-profitability, and double-digit customer growth in the affluent and private banking segments. He also led marketing and customer experience work streams for the Fleet/Bank of America merger where he developed a unique method for ensuring customer growth instead of dissatisfaction. His first role at Bank of America was the strategist for $1.3 billion enterprise customer relationship program.Prior to working for Bank of America, Otero spent several years at DuPont, where he held executive positions including global operations leader, national sales director, segment marketing director, leadership development director, and director for North America Nylon. His last position there was Director, Top Line Growth, where he focused on driving growth in underperforming businesses. Rick holds a BS in Mechanical Engineering from Texas A&M University and is a graduate of Texas A&M Executive in Business program. He also has MS in Global Operations from Clarkson University where his thesis was focused on driving revenue growth during mergers. He is active with the Financial Services Volunteer Corps and is also a member of Chartered Institute of Marketing. He is also a Six Sigma Academy certified Master Black Belt and IBM lean manufacturing trained.
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Authoritative analysis and perspective for executives leading the digital transformation of the insurance business.