Michael L. Conklin
About Michael L. Conklin
Michael L. Conklin (age 56) is Executive Vice President and Chief Human Resources Officer at Ryan Specialty, serving since August 2023; he previously held senior HR roles at WSFS Financial (EVP/CHRO, 2020–2023) and U.S. Bank (2013–2020). He holds an MBA from Regis University and a BS from Augsburg University, and is a U.S. Marine Corps Reserve veteran of the Gulf War . Company performance under the pay program he participates in is tied to Organic Revenue Growth and Adjusted EBITDAC Margin; in 2024, Organic Revenue Growth was 12.1% and Adjusted EBITDAC Margin was 31.5% . Over the presented period, Company TSR increased 136%, materially outpacing peer group TSR . The company also reported 2024 as “another outstanding year,” marking its sixth consecutive year of >20% topline revenue growth and 14th straight year of double-digit organic growth .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| WSFS Financial Corporation | EVP & Chief Human Resource Officer | 2020–2023 | Led enterprise HR for regional bank; talent and organizational strategy |
| U.S. Bank | Senior VP, Global HR for Global Payment Services & Strategy & Corporate Affairs; prior HR leadership supporting strategy, corporate affairs, communications, marketing, HR, consumer/business banking, legal | 2013–2020 | Supported multiple enterprise functions and global payments HR, aligning talent with growth priorities |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Community Education Building | Board of Directors; Chair, HR & Leadership Committee | Not disclosed | Nonprofit governance; human capital oversight in education context |
| Drexel University Solutions Institute | Board Advisor | Not disclosed | Advisory role on leadership and solutions programs |
Fixed Compensation
| Component | 2024 | 2025 Update | Notes |
|---|---|---|---|
| Base Salary ($) | 560,000 | 600,000 (effective March 2025) | Comp Committee targets base at/above 75th percentile peer benchmark |
| Target STI (% of salary) | 150% | 150% (unchanged for 2025) | Corporate plan metrics: Organic Revenue Growth, Adjusted EBITDAC Margin, Individual Merit |
| Actual STI Paid ($) | 793,338 (paid early 2025) | — | 2024 payout ≈94.4% of target per plan results |
| All Other Compensation ($) | 12,940 (401(k) company contribution) | — | NEO welfare plans same as employees; no special plans |
Performance Compensation
Short-Term Incentive (STI) – Plan Metrics, Targets, Actuals, Payout
| Metric | Weight | 2023 Actual | 2023 Payout Basis | 2024 Actual | 2024 Payout Basis |
|---|---|---|---|---|---|
| Organic Revenue Growth | 35% | 15.0% | 112.5% of target | 12.1% | 101.7% of target [ |