Chief Legal and Compliance Officer
Secu of Maryland
Shereefat Balogun was named compliance manager in 2017 at the State Employees Credit Union (SECU) of Maryland, and in less than two years she was also named the first in-house counsel with SECU.
“I could see this would not only accelerate my career goals to be in-house counsel at a financial institution, but it would help the credit union reduce legal costs substantially by bringing its legal work in-house,” said Balogun, a 2009 graduate of the University at Buffalo School of Law. “I have fostered a collaborative partnership between legal and SECU’s business units. We work together to execute the strategic goals of the organization while understanding and managing risk. We all have the same goal: do what’s best for our employees and members, and it’s with that common goal that we come up with solutions.”
Balogun started her legal career as a litigation associate with Locke Lord LLP in the Chicago area before she was named managing attorney with McKinley Onua & Associates LLC in New York. She has also been an attorney adviser with the Federal Housing Finance Agency in the Office of Inspector General in Washington, D.C., and the regulatory compliance counsel with the National Association of Federally-Insured Credit Unions in Arlington, Virginia, before joining SECU of Maryland.
Balogun helped SECU create ways to support members facing financial distress during the pandemic and helped SECU develop and implement diversity, equity and inclusion programs.
“Shereefat works with nearly every business unit in the organization, which requires building strong relationships with all of our leaders,” said Beck Smith, executive vice president and chief strategy and marketing officer with SECU of Maryland. “She takes time to ponder issues like a cube, looking at all sides before making a recommendation. She is constantly seeking more ways to collaborate across the business to help further our corporate strategy.”
Balogun is also active in community service. She is chair of the Nigerian Lawyers Association, which organizes legal clinics in communities in New York, and she has been a mentor since 2017 with StreetWise Partners, which aims to increase employment opportunities for residents in New York, Washington and Detroit.
“I pursued law so that I can serve and support people and communities in need. While my career has led me into the business world, I have stayed committed to my passion for pro bono and community service work.”