401kLoans, LLC Hires Industry Veteran as New CEO, Adds CIO
ST. CLOUD, MN, November 1, 2005 -- 401kLoans, LLC today announced two new additions to its executive leadership team. Retirement industry veteran Chuck Rau has been named CEO and Scott Warzecha has been named CIO. Both are based at the company's headquarters in St. Cloud, Minnesota.
401kLoans' CEO Chuck Rau stated, "We are now executing a plan to transition from the 'design and build stage' to the 'go to market' phase of our business. The time for strong market penetration is now. More and more companies are seeing the value in our technology for loan origination and compliance. The laws affecting plan loans are subject to constant change and it is difficult for administrators to keep up. We are excited by the opportunity to simplify a complex process for administrators. We look forward to seeing everyone at the ASPPA conference in November."
Rau is responsible for leading the strategic growth of the company. He most recently was Vice President – Retirement Plan Services at Bankers Systems, Inc. He has extensive financial service lending and marketing experience. "Over the past two years we have completed our design and development phase, and now Chuck is the right person to lead 401kLoans into our next phase. With his broad-based senior executive management experience from Bankers Systems, a national leader in lending compliance, he brings the optimal blend of strong leadership, national sales expertise and operational discipline to 401kLoans," stated Scott Warzecha, CIO.
As CEO, Rau will work closely with other industry leaders on potential expansion initiatives and focus on expanding 401kLoans' national sales presence while fostering new business development. As CIO, Warzecha will oversee the release of new products over the next year.
401kLoans offers a complete, on-line experience for the participant, as well as the service provider. E-commerce best practices are paired with electronic signature capability to take the industry beyond paperless loans, to the virtual loan. Loan application, review, and closing are all completed on-line while providing the applicant with the important disclosures and documents required by federal and state law.
401kLoans, LLC
Headquartered in St. Cloud, MN, 401kLoans, LLC is an innovative provider of plan loan origination and documentation systems. But, more than a software company, 401kLoans, LLC has a legal team dedicated to analyzing federal and state laws and regulations pertaining to retirement plan lending. Visit 401kLoans, LLC at www.401kloans.com.
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