Marjorie Connelly
PRA GROUPAbout Marjorie M. Connelly
Independent director of PRA Group (PRAA), age 63, with ~30 years in financial services and operations. Currently chairs PRAA’s Audit Committee and serves on the Risk Committee; previously served on PRAA’s Board in 2013–2014. Former COO roles at Convergys, Barclaycard, and Wachovia Securities; earlier senior roles at Capital One. Education: Harvard Business School Advanced Management Program; B.A. in Political Science, University of Delaware .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Convergys Corporation (NYSE) | Chief Operating Officer | 2014–2017 | Led global operations; customer management leader |
| Longwood University | Interim President | 2012–2013 | Institutional leadership |
| Barclaycard | Global Chief Operating Officer | 2009–2011 | Operations and technology support across consumer/commercial cards, merchant acquiring, POS finance |
| Wachovia Securities | Chief Operating Officer | 2006–2008 | Brokerage operations leadership |
| Capital One Financial (NYSE) | Executive VP, Head of Infrastructure (U.S. Cards); Interim CIO; prior roles | ~12 years | Large-scale tech/operations leadership in credit cards |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Altria Group, Inc. (NYSE) | Director | Since 2021 | Audit; Nominating, Governance & Social Responsibility; Compensation & Talent Development; Innovation |
Board Governance
- Independence: Board determined Connelly is independent under Nasdaq and SEC rules .
- Committee assignments: Audit Committee Chair; Risk Committee member .
- Audit Committee activity: 8 meetings in 2024; Audit members designated “audit committee financial experts” per the Exchange Act .
- Risk Committee activity: 6 meetings in 2024 (enterprise risk oversight including compliance, information security, cybersecurity, technology, vendor mgmt.) .
- Attendance: Board met 11 times in 2024; every director attended at least 75% of aggregate Board and Committee meetings on which they served .
- Governance structure: Separate Chair and CEO; Lead Independent Director presides over executive sessions and supports committee chairs .
Fixed Compensation
| Component (2024) | Amount |
|---|---|
| Board member annual cash retainer | $70,000 |
| Audit Committee Chair retainer | $30,000 |
| Risk Committee member retainer | $15,000 |
| Fees earned or paid in cash (Connelly) | $115,000 |
| Annual equity grant (RSUs) – grant date fair value (Connelly) | $154,991 (granted June 13, 2024; closing price $19.83 used for valuation) |
| Total 2024 director compensation (Connelly) | $269,991 |
- Director equity program: Non-employee directors received RSUs valued at ~$155,000, vesting on the anniversary of grant or next annual meeting date, aligning interests with stockholders .
Performance Compensation
| Element | Term | Metrics | Notes |
|---|---|---|---|
| None disclosed for directors | N/A | N/A | PRAA discloses time-based RSUs (no PSUs/options) for directors; no performance metrics tied to director pay . |
Other Directorships & Interlocks
| Company | Relationship to PRAA | Interlock/Conflict Note |
|---|---|---|
| Altria Group, Inc. | Consumer products; no disclosed transactions with PRAA | No related-party transactions in 2024; standard outside directorship; monitor time commitments . |
Expertise & Qualifications
- Financial services and large-scale operations leadership spanning credit cards, brokerage, and customer management; global and public-company experience .
- Information technology/data governance exposure through Capital One and Barclaycard roles; audit committee financial expertise implied via Audit Committee composition .
- Education: Harvard AMP; B.A. Political Science (University of Delaware) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class |
|---|---|---|
| Marjorie M. Connelly | 43,876 | <1% (*) |
- Director stock ownership guidelines: Non-employee directors must own shares valued at ≥5x the Board member annual cash retainer; expected to attain within five years; directors with ≥5 years of service have met the requirement as of April 21, 2025 .
- Pledging/Hedging: Prohibited by PRAA policies—enhances alignment; anti-pledging and anti-hedging apply to directors .
- Counting toward guidelines: Unvested RSUs count; unearned PSUs do not (directed at executives but clarifies methodology) .
Governance Assessment
- Strengths
- Audit Committee Chair with deep financial/operations pedigree; Audit Committee designated financial experts; strong oversight of financial reporting and internal controls .
- Independent status with robust Board governance (separate Chair/CEO; Lead Independent Director; independent-only committees) .
- Attendance at or above the 75% threshold; active committee cadence (Audit 8; Risk 6) indicates engagement .
- Alignment mechanisms: Mandatory stock ownership, anti-hedging/pledging; annual director equity grants .
- Watch items
- External board commitments (Altria) require continued monitoring for time/attention, though no related-party transactions were disclosed in 2024 .
- Board pay structure is cash + time-based RSUs (no performance-linked director pay), a common practice but offers limited pay-for-performance signaling at the director level .
- Red Flags
- None disclosed: No related-party transactions, hedging/pledging prohibited, and Section 16 compliance noted (no issues cited for Connelly) .
Additional investor confidence signals: Say-on-Pay support was over 91% at the 2024 Annual Meeting, indicating broad shareholder backing of PRAA’s compensation framework and governance practices .