Jessica A. Turner
CNO Financial GroupAbout Jessica A. Turner
Jessica A. Turner, age 47, is an independent director of CNO Financial Group, appointed October 1, 2024. She serves as Executive Vice President, Global Head of Open Banking & API at Mastercard and is a member of CNO’s Audit & Enterprise Risk Committee and Governance & Nominating Committee. Her core credentials include fintech, open banking, digital infrastructure, and product commercialization expertise in financial services.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mastercard Incorporated (NYSE: MA) | Executive Vice President, Global Head of Open Banking & API; member of Mastercard’s Management Committee | Since 2006; current role noted | Led strategy, design, development, commercialization of blockchain, digital assets, crypto and open banking products; global fintech/government partnerships |
| Affinion Loyalty Group | Product Development | Prior to Mastercard | Customer engagement products; collaboration with telecoms and banks |
| Capital One Financial Corporation | Early career | Prior to Affinion | Financial services product experience |
External Roles
| Category | Role/Entity | Notes |
|---|---|---|
| Current public company boards | None disclosed | Proxy biography lists no other public boards for Turner |
| Prior public company boards | None disclosed | No prior public board service listed for Turner in proxy |
| Nonprofit/academic/private boards | None disclosed | Not specified in proxy |
Board Governance
- Committee assignments: Member, Audit & Enterprise Risk Committee (AER); Member, Governance & Nominating Committee (Governance); not designated an audit committee financial expert (experts are Lee, Ragavan, Shebik) .
- Independence: Board determined all directors other than the CEO are independent; Turner is independent .
- Attendance and engagement: In 2024, the Board met 7 times; committees met 38 times; directors attended ~91% of aggregate meetings on which they served (hybrid format); Audit met 14 times; Governance met 12 times. The Audit Committee report is signed by Turner, indicating active participation .
- Board leadership: Independent Board Chair; separate CEO and Chair roles; routine executive sessions of independent directors .
- Cybersecurity/technology oversight: AER oversees information security, cybersecurity, and AI governance; Turner’s technology experience aligns with committee remit .
- Director onboarding/education: Robust onboarding and ongoing director education; annual Board/committee evaluations led by Governance Committee .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Fees Paid in Cash | $62,500 | Prorated from Oct 1, 2024; includes Audit member fee ($15,000 prorated) and Governance member fee ($10,000 prorated) |
| Annual Board Service Retainer design | $100,000 cash; $150,000 equity | Standard for non-employee directors (Turner joined mid-year; amounts prorated) |
Program design (for context): Committee chair retainers ($20,000–$45,000); committee member retainers ($10,000–$15,000); no meeting fees; stock ownership requirement equals 5× base cash compensation, to be met within 5 years; no hedging/pledging by directors .
Performance Compensation
| Grant Date | Award Type | # of RSUs | Grant-Date Fair Value | Vesting Schedule |
|---|---|---|---|---|
| Oct 1, 2024 | RSUs (director equity) | 2,632 | $90,436 | Vested immediately upon grant; may be deferred as stock units under director plan |
- Directors do not receive options or performance-conditioned equity; RSUs are time-based (immediate vest at grant for directors) .
Other Directorships & Interlocks
| Attribute | Detail |
|---|---|
| Current public boards | None besides CNO |
| Shared directorships with competitors/suppliers/customers | None disclosed for Turner; related person transactions disclosed only for BlackRock arrangements; no other such transactions in 2024/2025 |
| Overboarding/Time commitment review | Governance Committee evaluates outside affiliations and potential conflicts; Turner’s independence affirmed |
Expertise & Qualifications
- Fintech/open banking, digital infrastructure, blockchain/crypto products, and product commercialization in financial services .
- Information security and technology; legal/risk management; financial services industry exposure per Board skills matrix .
- Governance experience via public company board service at CNO and management experience at Mastercard .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficial ownership (common stock) | 0 shares; <1% | As of Mar 10, 2025; “—” denotes none; below 1% threshold |
| Deferred stock units (vested, non-voting) | 2,632 | Represents deferred settlement of RSUs granted Oct 1, 2024 |
| Ownership guidelines | 5× annual base cash compensation; 5-year compliance window | Each director must meet guideline within 5 years; directors with <5 years either have met or are on track |
| Hedging/pledging | Prohibited | No hedging, pledging, or derivative transactions by directors |
Governance Assessment
- Strengths: Independent status, dual service on Audit & Governance committees, technology/cybersecurity expertise aligned with AER oversight, and active engagement (Audit report signatory). Governance practices prohibit hedging/pledging and impose robust director ownership guidelines, supporting alignment. Say-on-pay support was strong at >93% in 2024, signaling investor confidence in governance and compensation frameworks.
- Alignment: Director equity granted and immediately vested RSUs with optional deferral maintain exposure to share performance; ownership guideline requires meaningful stake within 5 years, and newer directors are stated to be on track.
- Watch items: Direct beneficial ownership currently zero—monitor progress toward 5× cash retainer guideline for alignment over time. Turner holds a demanding executive role at Mastercard; Governance Committee reviews time commitments and potential conflicts annually—continue to monitor attendance and committee participation disclosures (Board-wide attendance ~91% in 2024; individual attendance not separately disclosed). No related-party transactions involving Turner disclosed.
RED FLAGS (none material disclosed)
- No related-party transactions or pledging/hedging by the director disclosed. Immediate vesting of director RSUs is standard at CNO; not performance-based—alignment relies on ownership guidelines and ongoing equity grants; monitor compliance trajectory given zero current beneficial ownership.
Overall, Turner’s fintech and information security expertise strengthens Board oversight of digital risk and strategy, particularly within AER and Governance. The primary near-term alignment consideration is building a personal ownership stake consistent with CNO’s director guidelines over the 5-year window.