Raymond E. Chandonnet
About Raymond E. Chandonnet
Independent director of Kearny Financial Corp. since 2015 (age 59 as of June 30, 2025). Founder of BankStrategies.net, with three decades advising banks on balance sheet and technology strategy, after leading bank balance sheet strategy at several major sell-side and FHLB institutions. He holds an M.S. in Data Science (Merrimack College), an M.S. in Finance (Bentley University), and a B.S. in Computer Science (Merrimack College), and serves on Merrimack College’s School of Engineering & Computational Sciences Board of Advisors .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sandler O’Neill & Partners; JPMorgan Securities; Lehman Brothers; First Union Capital Markets; FHLB Boston | Head of Bank Balance Sheet Strategy | 1992–2014 | Led balance sheet strategy for banking clients; frequent publisher/speaker on bank financial management and technology utilization . |
| BankStrategies.net | Founder/Sole Practitioner (advisory to banks/credit unions/FinTech) | 2014–Present | Balance sheet and technology strategy consulting; clients include banks, credit unions, FHLBs, regulators, public accounting firms, and FinTechs . |
External Roles
| Organization | Role | Sector/Type | Notes |
|---|---|---|---|
| Merrimack College, School of Engineering & Computational Sciences | Board of Advisors | Academic | Advisory board member . |
| BankStrategies.net | Founder/Sole Practitioner | Private advisory | Financial and technology strategy for financial institutions and BankTech/FinTechs . |
Board Governance
- Independence: Determined independent under Nasdaq rules .
- Committee assignments: Member, Enterprise Risk Management Committee (ERM). ERM met six times in FY2025; committee scope includes enterprise risk strategy and oversight .
- Attendance: In FY2025, no director attended fewer than 75% of total Board/committee meetings; Board held 18 meetings and two executive sessions .
- Tenure: Director since 2015 (standing for re-election to a term expiring 2028) .
- Board leadership: Separate Chair (independent) and CEO roles .
Fixed Compensation
| Component (FY2025) | Amount | Notes |
|---|---|---|
| Board fees (cash) | $106,800 | As reported for Chandonnet (non-employee director) . |
| All other compensation | $33,003 | Health and long‑term care premiums reported for Chandonnet . |
| Total director compensation | $139,803 | Sum of cash fees and other compensation . |
| Quarterly retainers (structure) | Bank Board: $15,700; Company Board: $11,000 | Chairman higher; Audit & Compliance and Compensation pay committee retainers; no fees for other committees like ERM . |
Performance Compensation
- Stock awards (FY2025): None for non-employee directors; $0 stock awards and option awards reported for Chandonnet in FY2025 .
- Director equity program: As of June 30, 2025, Chandonnet held 100,000 vested stock options (legacy awards); directors held no restricted stock .
- Performance metrics: Not applicable to director compensation (no annual equity grants or performance-linked director pay disclosed) .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None (Company disclosure: “No directors currently serve on other public company boards.”) . |
| Private/non-profit/academic | Merrimack College Board of Advisors; BankStrategies.net founder . |
| Interlocks/related parties | Company reports no related‑party transactions >$120,000 since start of last fiscal year (other than ordinary‑course loans at market terms) . |
Expertise & Qualifications
- Bank balance sheet strategy, risk, and technology/FinTech; frequent publisher/speaker on bank financial management and technology utilization .
- Advanced technical/financial education (M.S. Data Science; M.S. Finance; B.S. Computer Science) .
- Board skill alignment with ERM: Member of ERM Committee overseeing multi‑risk, cross‑enterprise exposures .
Equity Ownership
| Measure | Detail |
|---|---|
| Total beneficial ownership | 155,848 shares (<1% of shares outstanding) . |
| Options | 100,000 options exercisable (vested) as of June 30, 2025 . |
| Estimated directly/indirectly owned shares (non-option) | 55,848 (derived from total beneficial ownership less 100,000 options) . |
| Pledged shares | None; anti‑pledging policy applies and only CEO has pledged shares; no other director/officer has pledged shares . |
| Hedging policy | Directors prohibited from hedging Company stock . |
| Stock ownership guidelines | Non‑employee directors required to hold 3.0x annual cash retainer; directors comply . |
Governance Assessment
- Positives
- Independent status; specialized banking risk/technology expertise; ERM Committee membership aligns with skillset .
- Strong engagement: met ≥75% attendance threshold; Board held 18 meetings and two executive sessions .
- Low external conflicts: no public company directorships; no related‑party transactions disclosed .
- Alignment policies: robust anti‑hedging/anti‑pledging; director ownership guidelines in compliance .
- Watch items
- Director pay is primarily cash and benefits in FY2025 (no new equity grants); alignment relies on legacy vested options and ownership guidelines rather than ongoing equity awards .
- BankStrategies.net advisory work spans banks/FinTechs; no related‑party transactions disclosed, but continued monitoring for potential engagements with Kearny or significant counterparties is prudent .
No red flags identified regarding independence, attendance, related‑party exposure, hedging/pledging, or multi‑boarding based on the latest proxy disclosures .