Brian Schaeffer
About Brian Schaeffer
Brian Schaeffer is Senior Executive Vice President and Chief Information Officer (CIO) of OceanFirst Bank N.A., effective January 1, 2025, after serving as Executive Vice President & CIO since August 18, 2023 and Chief Information Security Officer from 2018–2023; he is 54 years old . Prior roles include SVP & CIO at Sun National Bank (2015–2018), IT leadership at Liberty Bell Bank, and security/IT roles at Dow Jones; he holds a B.S. in Computer Science (Rutgers), an M.S. in Information Assurance & Security (Capella), and CISSP/CISA certifications, with industry recognition including “New Leader in Banking” (NJ Bankers), “Rising Star” (ICBA), and the 2010 Federal Executive Board Excellence in Government Gold Medal for private-sector involvement . Company performance context during his tenure: OCFC reported Core ROAA 0.60%, Core ROTCE 7.19%, and a 70.30% efficiency ratio in Q3 2025 ; the corporate overview indicates $14.3B assets, $10.5B net loans, and $10.4B deposits as of Q3 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| OceanFirst Bank N.A. | Senior EVP & CIO | 2025–present | Executive leadership on technology; part of deep management bench with large-bank experience |
| OceanFirst Bank N.A. | EVP & CIO | Aug 18, 2023–Dec 2024 | Led IT department restructure and efficiency initiatives |
| OceanFirst Bank N.A. | Chief Information Security Officer | 2018–2023 | Built information security posture as OCFC scaled past $10B assets |
| Sun National Bank | SVP & CIO | 2015–2018 | Led bank IT; joined OceanFirst via acquisition |
| Liberty Bell Bank | IT leadership | n/a | Information technology leadership roles |
| Dow Jones | Security/IT roles | n/a | Managed corporate internet security services including systems producing the Wall Street Journal |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NJ Bankers Association | “New Leader in Banking” awardee | n/a | Industry recognition signaling leadership potential |
| Independent Community Bankers of America (ICBA) | “Rising Star” awardee | n/a | Recognition within community banking network |
| Federal Executive Board | Excellence in Government Gold Medal (group private-sector involvement) | 2010 | Contributions to national security and critical infrastructure protection initiatives |
Performance Compensation
OceanFirst’s 2024 cash incentive plan used multi-factor metrics with final funding at 84.9% of target; NEO bonuses could exceed funding based on individual goals. While Schaeffer’s individual payout is not disclosed, the corporate incentive metrics and outcomes are below.
| Metric | Payout % | Weighted Payout % | Notes |
|---|---|---|---|
| Core Earnings | 66% | 26.2% | Financial performance component |
| Core Efficiency Ratio | 72% | 14.5% | Cost discipline and efficiency |
| Net Deposit Growth | 110% | 11.0% | Funding stability and growth |
| Non-Interest Expense | 82% | 8.2% | Operating expense control |
| Internal Controls | 102% | 5.8% | Governance and controls |
| Regulatory Compliance & Assessments | 125% | 9.4% | Strong regulatory posture; CRA upgrade weighted positively |
| Shareholders, Customers, and Community | 131% | 9.8% | Stakeholder outcomes |
| Total Funding | 84.9% | Corporate plan outcome |
Long-term equity framework (company-wide):
- Performance-Based Restricted Stock: Cliff vests after three years based on Relative Core ROAA (3-year average, 40%), 3-year cumulative Core EPS growth (40%), and relative 3-year TSR (20%) versus the KBW Nasdaq Regional Banking Index (KRX); payout range 0–150% of target . 2024 awards vest March 1, 2027; 2023 awards vest March 1, 2026 .
- Time-Based Restricted Stock: Vests in four equal annual installments beginning on grant date .
Selected vesting schedule (plan-level, not individual to Schaeffer):
| Grant Year | Award Type | Vesting Date(s) | Payout Range/Terms |
|---|---|---|---|
| 2024 | Performance RS | Mar 1, 2027 | 0–150% vs KRX on ROAA/EPS/TSR |
| 2023 | Performance RS | Mar 1, 2026 | 0–150% vs KRX on ROAA/EPS/TSR |
| 2024 | Time-Based RS | 4 equal annual tranches starting grant date | Service-based vesting |
Equity Ownership & Alignment
- Pledging/Hedging: Company prohibits hedging or pledging of stock by directors and senior executive officers without Board approval; as of March 25, 2025, none of the above directors or executive officers have pledged OCFC shares .
- Insider filings: The company notes Schaeffer had one late Form 4 for a sale on May 8, 2024; details (size/price) not disclosed in the proxy excerpt .
- Ownership guidelines: NEO guidelines require 5x salary for CEO and 3x salary for other NEOs; directors have 3x retainer guidelines. The anti-hedging/pledging policy also applies to directors and senior executive officers; Schaeffer is not named as an NEO, so specific NEO ownership multiple may not apply, but policy constraints still govern his trading and alignment .
Employment Terms
- Change of control and severance: Company policy features double-trigger change-in-control provisions (no single-trigger benefits) and no excise tax gross-ups; equity does not automatically vest on change in control .
- Clawback policy: Company can recoup performance-based compensation under specified circumstances .
- Compensation governance: Independent consultant (Meridian) advises Compensation Committee; peer benchmarking positions OCFC around mid-market vs banks/thrifts with assets in the $6–27B range (2024 peer group) .
Performance & Track Record
- Company operating metrics (context): Q3 2025 Core ROAA 0.60%, Core ROTCE 7.19%, Efficiency ratio 70.30% . Corporate overview shows assets $14.3B, net loans $10.5B, deposits $10.4B at Q3 2025 .
- Organizational impact: OceanFirst restructured its IT department with Schaeffer’s appointment as CIO in August 2023, part of broader productivity and efficiency initiatives .
- Management bench: Schaeffer is highlighted among a deep and experienced leadership team with large-bank experience .
Risk Indicators & Red Flags
- Late filing: One late Form 4 submission for Schaeffer on May 8, 2024 .
- Pledging: No pledging by directors or executive officers as of March 25, 2025 .
- Program safeguards: Anti-hedging/pledging, clawbacks, double-trigger CIC, and no option repricing without shareholder approval mitigate compensation-related risk .
Compensation Peer Group & Say-on-Pay
- Peer group benchmarking: Compensation Committee used Meridian’s benchmarking with a 2024 peer set across mid-Atlantic/New England banks and thrifts (assets $6–27B) to target market-median pay levels .
- Say-on-Pay: 83% approval at the 2024 annual meeting, indicating generally supportive shareholder sentiment toward the executive compensation program .
Investment Implications
- Alignment: Strong governance (anti-hedging/pledging, clawbacks, double-trigger CIC) and performance-based equity tied to ROAA, EPS growth, and TSR versus KRX suggest incentives are geared to long-term value creation .
- Retention risk: Recent elevation to Senior EVP & CIO implies institutional reliance on Schaeffer’s IT leadership; absence of disclosed individual severance specifics limits insight into personal retention economics, but corporate practices favor competitive market-median compensation .
- Trading signals: Monitor insider filings around standard vesting dates (e.g., early March cliff vests for performance RS) and earnings windows; the noted late Form 4 in May 2024 is a minor process flag rather than a structural risk indicator .