Get to Know Wil Osborn

Did you always know what you wanted to do after high school?

Wil: Not really. It took me a while to figure that out. I went to junior college for a year and played tennis, then went on a two-year mission for my church. When I came back, I started thinking accounting might be a good path. It seemed like a good foundation for understanding business, so I earned my degree in accounting from Bringham Young University.

How early in life did you have an interest in business?

Wil: My dad and his brother owned a sewing factory. They made clothes for companies like The Gap and Ocean Pacific. I worked there throughout high school and part of college, and the women who worked there were almost like moms to me. Watching my dad and uncle run that business had a big impact on me. I saw that a job wasn't just about clocking in and clocking out. You were trying to make the business work, make sure you had enough business for your employees and figure out how to get through both good times and hard times. I think that gave me an ownership attitude that has helped me throughout my career.

You had quite a few stops before landing in the Federal Home Loan Bank System. What different places has your career led you to?

Wil: It was a long and winding road. I started my career at First Security Bank in Salt Lake City and earned an MBA in finance from Westminster University while working full time. From there, I worked in a variety of roles across banking, investments and interest-rate risk management, with stops in Washington, D.C., Dallas, Las Vegas, Omaha and Topeka before eventually making my way to Des Moines. I've worked for credit unions, banks and investment firms, giving me exposure to a wide range of approaches across the financial services industry.

So how did you eventually find your way into the Federal Home Loan Bank System?

Wil: A former colleague, Dave Fisher, became COO of the Federal Home Loan Bank of Topeka and called to ask if I'd come work with him. I didn't really know that much about the Federal Home Loan Bank System at the time. I remember going to Topeka to look for a house. It was hot, we weren't finding much at the time, and I remember looking at my wife and saying, "What in the world have we done?" I would say it worked out pretty well. To this day, I consider Dave a mentor and a very good friend.

You spent 14 years at the Federal Home Loan Bank of Topeka. How would you describe that chapter of your career, and what moments or relationships stand out as especially memorable?

Wil: I worked in pricing and performance management, eventually oversaw capital markets and became CFO. I got to work with a lot of people throughout the Federal Home Loan Bank System who went on to become leaders across the system. That's where I first got to know Kris Williams. We worked together through some pretty challenging periods, including the mortgage financial crisis and other disruptions in the financial markets. We would talk and compare how we were handling things. I think we realized we saw the world pretty similarly in a lot of ways.

Over the 20 years you've been with the Federal Home Loan Bank System, what are some big leadership lessons you've learned?

Wil: The first thing that comes to mind is that context matters. In the Federal Home Loan Bank environment, success comes from balancing mission, member value and sound risk management, because even small decisions can have far-reaching effects. Second, I've learned the value of collaboration. When you're working with people from different organizations and perspectives, you have to find a compromise that allows everyone to move forward, that includes making sure you have all the right people in the room.

How would you describe your leadership style?

Wil: I've had some really good mentors who would give me direction and a vision, but they wouldn't micromanage exactly how I was supposed to do it. They'd say, essentially, "This is what we're trying to accomplish. Go figure it out." That's something I've tried to do with other people. Sometimes I'll put a concept on the board and start sketching it out, but I don't finish it. I'll put the pen down and let the group figure out the rest. You get more people involved, you get more ideas and people become more invested in the solution.

Now that you're stepping from Chief Business Officer into the Chief Executive Officer role, has your mindset started to change?

Wil: Definitely. In my previous role, I had quite a few different things to focus on. Now it's multiplied by four or five times because there are so many areas of the Bank that I need to keep track of. You also realize that how you talk about things and how you're perceived gets magnified. Your demeanor and comments are noticed more, so you have to be mindful of what you're portraying. I'm sure I'm not always going to get it right, but I want to be thoughtful about it.

What are your priorities as CEO?

Wil: I'd boil it down to three things. First, we need to make sure we don't lose the progress we've made. We've spent years improving the way we operate, strengthening our processes and addressing issues. Sometimes it's just as hard to manage when things are going well as when you're in a crisis because you have to keep doing the things that got you there.

Second, I want to make sure what we've built becomes a permanent part of our culture. I call it the "Des Moines way." That doesn't mean we stop changing or evolving. It means we don't give up the things that got us here.

Third, I want to broaden participation and engagement across the Bank. We need to provide people with meaningful opportunities to learn, grow and develop into the next generation of leaders. While workloads can be demanding, I believe there is tremendous untapped potential throughout our organization. My goal is to create opportunities for employees to contribute their expertise, take on meaningful challenges and make a lasting impact on the Bank's success.

So, who is Wil Osborn outside of work?

Wil: I'm a husband, a dad and a grandpa. I met my wife, Tracy, at BYU and we've been married for 37 years. We have four kids, and they're spread around the country. Our youngest daughter is getting married soon, so that's what's keeping us busy right now. I'm very proud and happy about our family. They're a good little group.