Mary Dickerson
RADIAN GROUPAbout Mary Dickerson
Senior Executive Vice President, Chief People and Operating Officer at Radian Group Inc. since April 24, 2024; joined Radian in January 2021 and was promoted to Senior EVP, Chief People Officer in January 2023 before assuming broader operating responsibilities across Title & Real Estate Services, marketing, communications, and ESG . Age 51 in 2024 and 52 in 2025; prior HR leadership at DLL Group (2017–2020), XL Catlin (2015–2017), and Accolade (2012–2015), with earlier roles at The Hartford, AIG, VisionQuest, Allied Irish Banks, Wawa, and Fitzpatrick’s Hotel Group . Company performance during her tenure has been solid: FY2024 revenues $1.3B, net income $604M, diluted EPS $3.92, ROAE 13.4%, TSR 14.5%; FY2023 revenues $1.2B, net income $603M, diluted EPS $3.77, ROAE 14.5%, TSR 55.2% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DLL Group (Rabobank subsidiary) | Executive Vice President, Human Resources | 2017–2020 | Led global HR; built globally connected workforce, culture, and L&D programs |
| XL Catlin plc | Senior Vice President, Human Resources | 2015–2017 | Oversaw HR in a global insurance context |
| Accolade Inc. | Executive Vice President, Human Resources | 2012–2015 | Scaled HR operations in growth-stage healthcare tech |
External Roles
No public company board roles or external directorships disclosed for Mary Dickerson in Radian’s proxy statements .
Fixed Compensation
- Radian disclosed no changes to Ms. Dickerson’s compensation upon her appointment to CP&OO on April 24, 2024 .
Performance Compensation
- Program oversight: As CP&OO, she serves as liaison to the Compensation & Human Capital Management (CHCM) Committee, supporting executive compensation design and governance .
2023 Short-Term Incentive (STI) Metrics and Results (Company-level):
| Performance Area and Weighting | Metric | Threshold | Target (Low) | Target | Target (High) | Maximum | 2023 Actual | Metric Weighting | % of Target Payout Achieved |
|---|---|---|---|---|---|---|---|---|---|
| Financial (70%) | Adjusted Diluted Net Operating EPS ($) | 1.90 | 2.55 | 2.85 | 3.05 | 3.40 | 3.88 | 50% | 200% |
| Financial (70%) | NIW Achievement ($B) | 30 | 50 | 55 | 60 | 75 | 53 | 30% | 96% |
| Financial (70%) | homegenius Revenue ($M) | 75 | 125 | 150 | 175 | 225 | 58 | 20% | 0% |
| Financial subtotal | Achievement prior discretionary adjustment | 129% | |||||||
| Financial weighted result | Weighted achievement (129% × 70%) | 90% |
2024 STI program changes (Company-level):
- Added Adjusted Pre-tax Operating Income (35% weighting) alongside Adjusted Diluted Net Operating EPS (35% weighting); increased Strategic Execution weighting to 40%, removing homegenius revenue as a standalone metric .
2024 Long-Term Incentive (LTI) Design (Company-level for executive officers):
- Performance-based RSUs (60% of LTI) vest on BV per share growth over 3 years; payout range 0–200% with a Relative TSR modifier; Time-based RSUs (40%) vest pro rata over 3 years .
2024 BV RSU Payout Grid and TSR Modifier:
| Cumulative Growth in LTI Book Value per Share | BV Payout % of Target |
|---|---|
| ≤15% | 0% |
| 30% | 100% |
| >45% | 200% |
| Comparative TSR Performance vs Peer Average | Relative TSR Modifier |
|---|---|
| ≤ -9.5% | -25.0% |
| -7.0% | -18.8% |
| -4.5% | -12.5% |
| -2.0% | -6.3% |
| 0.5% | 0.0% |
| 3.0% | +6.3% |
| 5.5% | +12.5% |
| 8.0% | +18.8% |
| >10.5% | +25.0% |
- Key LTI terms include a post-vesting one-year hold on performance RSUs, “double-trigger” vesting with change-of-control plus qualifying termination, and dividend equivalents that accrue and pay only upon vesting .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Initial Statement of Beneficial Ownership | Mary Dickerson filed Form 3 on Feb 17, 2021, reporting no securities beneficially owned as of Feb 10, 2021 . |
| Anti-hedging/anti-pledging | Radian prohibits hedging and pledging of company securities for employees and directors; also maintains robust stock ownership guidelines (company-wide) . |
Employment Terms
- Appointment history: Joined Radian in January 2021 as EVP & Chief People Officer; promoted to Senior EVP, Chief People Officer effective January 1, 2023; appointed Senior EVP, Chief People and Operating Officer effective April 24, 2024 .
- Scope: Oversees HR (people), procurement/vendor management, facilities, administration, safety, security, business resiliency, Title & Real Estate Services, marketing, communications, and corporate responsibility/ESG .
- Governance notes: No compensatory changes with the 2024 appointment; no arrangements/understandings for appointment; no family relationships; no transactions requiring Item 404(a) related-party disclosure .
Performance & Track Record Context (Company-level)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Total Revenues ($B) | 1.2 | 1.3 |
| Net Income ($M) | 603 | 604 |
| Diluted Net Income Per Share ($) | 3.77 | 3.92 |
| Adjusted Diluted Net Operating Income Per Share ($) | 3.88 | 4.11 |
| Return on Average Equity (%) | 14.5 | 13.4 |
| Absolute TSR (%) | 55.2 | 14.5 |
| New Insurance Written ($B) | 52.7 | 52.0 |
| Primary IIF ($B, end-period) | 270.0 | 275.1 |
Investment Implications
- Alignment and risk: Company-wide anti-hedging/anti-pledging policies and performance-weighted LTI design support pay-for-performance and reduce misalignment risk; Mary’s liaison role to the CHCM Committee suggests continued rigor in compensation processes and risk controls .
- Retention and scope: Successive promotions culminating in the CP&OO role, with expanded operating oversight, indicate high internal confidence; no compensation change at appointment suggests cost discipline while elevating responsibility .
- Trading signals: Public disclosures show Mary reported no beneficial ownership at initial Form 3 filing; absence of subsequent reported ownership data in proxies limits visibility into insider selling pressure tied to her holdings .
- Execution considerations: Elevated focus on strategic execution in 2024 STI and continued BV per share growth + TSR-modified LTI awards create strong incentives for enterprise performance across areas under her purview (HR, operational resiliency, Title & Real Estate Services, ESG) .