A desire to help the Irish credit union sector become more resilient in the face of considerable challenges led Patrick Lawlor to the UCD Smurfit Executive Development Diploma in Strategy, Development & Innovation.
He took up the role of Head of Professional Advisory Services with the Irish League of Credit Unions in February having worked in financial services for his entire career before that. “I had been CEO of St Dominic Credit Union in Waterford before that,” he says. “It covers Waterford city and south Kilkenny and has €124 million in assets and 30 staff. I had worked in Bank of Ireland before that. I joined St Dominic in 2013 because I wanted to move into a purpose and values driven sector.”
It was sector experiencing quite severe turbulence. “The credit union sector has been through huge changes in the last 10 to 15 years, particularly since 2012. A lot of new regulations were introduced post the global financial crisis and this presented significant challenges for credit unions.”
He explains that these weren’t just challenges associated with an additional compliance burden but were also strategic in nature due to the far-reaching effects of the new regulations.
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That led him to the Diploma in Strategy Development & Innovation. He points out that working as a CEO or in another senior role in an organisation can present its own challenges and that it is often hard to see the bigger picture when “you are up to your eyes in the role.”
“The course is about opening up your thinking,” he adds. “You also get to meet people from other sectors and see how they are facing challenges. That exposes you to new thinking. That’s one of the best things about the course.”
The structure and content were other plus points. “It’s extremely practical in approach. The faculty are brilliant. They are very knowledgeable with huge experience in their areas. It’s very collaborative in nature. We went through case studies and did a lot of group work together. I found that massively beneficial. It’s a fantastic way to learn instead of the standard lecture format. The topics covered and were very relevant to me. I enjoyed learning about strategy and how you craft it. A lot of leaders may not have received formal education in that. It was very valuable to learn about a formal approach to developing a strategy. That gives you a much better chance of developing a successful strategy. I was able to put that to work in my own role almost immediately. I saw the benefits of it straight away. That’s been fantastic.”
The networking opportunities were also important to him. “The class was made up of 30 people from a very broad range of backgrounds,” he notes. “We had people from right across the public and private sectors. It was great to meet such a group of very talented and experienced people from different sectors. The camaraderie and spirit within the group were fantastic. Being in class together learning from each other was a great benefit. We can become consumed by the particular issues facing us in our own roles and it can be very helpful to discuss those with other people. It opens up your thinking. The course structure allowed those discussions to take place.”
Peer learning came into the lectures as well. “It was really interesting to have people with different views on topics discuss them during lectures,” he says. “That was particularly interesting when we were learning about creating an environment that fosters innovation. That’s very relevant to the credit union sector. It is now more urgent than ever for the sector to innovate in order to meet the competitive and other challenges facing it.”
He believes the UCD Smurfit Executive Development Diploma in Strategy, Development & Innovation will be particularly relevant in his new role. “I have already been able to bring learnings from the course back to the sector and my role it,” he says. “One of the reasons I took on the role was that I wanted to be more sector focused. I have always been drawn to that. I have come to the realisation and understanding that the problems faced by one credit union in the current environment can’t really be solved by that credit union alone. It will require collaboration and innovation at sector level. I want to help the ILCU and the sector take on the challenges they are facing. Credit unions in Ireland are going through a very new and exciting phase at present. I have no doubt that the diploma will help me to have a positive impact on all credit unions in Ireland. That will be a fantastic outcome.”
He intends to continue his studies at Smurfit Executive Development. “I will hopefully do more courses. I want to do the pathway to the MSc in in Business (Leadership & Management Practice). The structure of the diploma courses lends itself very well to people who are busy professionals. Lectures take place on two days very six weeks so it’s very doable. Still, it isn’t easy taking on a course when you are working but everyone is supported to get the most out of it. That was a real plus. It was also hugely beneficial to me to be able to get out of the office and spend the two days with a group of very talented people. I would certainly recommend the course to others; I can’t speak highly enough of it.”
For more information, visit www.smurfitschool.ie/executivedevelopment