Get to Know Our Chief Risk Officer
Podcast Transcription
Money Talk is a podcast brought to you by PFCU where we will share tips and tricks and talk to the experts on all things finance related. Join us as we cover everything from credit and loans to cyber security and careers. No matter where you are in life, PFCU is here for you.
Maddy: Hi everyone, we are winding down our get to know the SVPs special mini-series. In this episode, we are getting to Sim Virk, he is the Senior Vice President of Compliance and Audit. Sim shares his perspective on a few different aspects of life that I think you’ll find interesting as well as one of his favorite places to visit and the amazing trips he dreams of taking. Let’s welcome, Sim.
Sim: So, my name is Sim Virk, I am the SVP of Compliance and Audit. I’ve been with the credit union, well, it’ll be about 11 years in May.
Maddy: Nice.
Sim: Yeah, I’ve been around for a little bit so I’ve got my toes, basically, in lots of different things.
Maddy: Yeah.
Sim: And yeah, I love, enjoy working with the various things that we do. No day is the same day so basically it gives me a lot of variety, you know with that so, yeah, it’s an interesting vocation for sure and I enjoy it.
Maddy: Good! Have you been in compliance your whole time here or?
Sim: No, initially, actually I was in underwriting when I first started for a few months, I would say, and then a compliance position opened up and I was always interested in, you know, the legal side of things and how things worked and so I applied and I’ve been, I would say in compliance here probably 10 years.
Maddy: Good, yeah. Let’s think back to your very, very first job. What was that, when you were like a kid?
Sim: Well, it was during my high school years and I worked at McDonald’s, that was my first job. And it was one of the most enjoyable jobs that I’ve had. It was a great experience because I worked with peers, basically and I also played basketball in school and a couple of my managers were really into it and they played the sport so, yeah it was a good atmosphere. And we were busy and, in those days, you had to grill your hamburgers and stuff so, I have a record of making 350 hamburgers in about 10 minutes or so.
Maddy: Oh my gosh.
Sim: Well, they were big macs too, so.
Maddy: Wow.
Sim: So, it was, you know, we were in the back kitchen and all that so, that’s what we did. So, yes, I enjoyed it. I was there for about 3 years. The peers went, we had Christmas parties and all sorts of stuff.
Maddy: That’s amazing. And it makes a big difference the people you work with. My first, one of my first jobs, I worked with like, my friends.
Sim: Yeah.
Maddy: And you know, it was being a cashier but you’re surrounded by fun people and good memories come from that.
Sim: Right, yeah. And couple of my best buds were, like, on the team, if you will.
Maddy: Right.
Sim: And so, it was fun, you know, we would hang out there and then you know, we would decide what we wanted to do afterwards also, so yeah, it was a good atmosphere. We all really enjoyed it, if I look back.
Maddy: So, you’ve been, that was your very first job and you’ve been with PFCU for about 11 years you said. Was PFCU your first credit union experience or were you elsewhere before you got here?
Sim: It was my first, yeah, credit union experience, correct, yeah.
Maddy: Okay.
Sim: I did not work at another financial institution prior to the credit union itself. I was, I had financial background, obviously and I was interested in it. We used to do financial planning and work in mortgages in the 90s. Actually, my sister and I opened up our own company back then, so, yeah, I was always interested in the financial aspect and then for a little bit I went in to the construction industry and I was a project manager and so, that was very interesting because we’d build a lot of MSU, we worked on actually MSUFCU as well, their headquarters and also Sparrow hospital and some of those bigger hospitals around the state so that was certainly an interesting experience. I did that for about, I would say 3 years or so and then, that was in Lansing area. With the kids’ activity and things going on here and a position opened up in Portland so you know, I decided hey, it would be a good time to take the opportunity and be closer to home basically so I could be involved with the kids and all of that and so, yeah it was a good fit at that time and I’ve been part of the financial industry.
Maddy: Right, right. Good! What is something that someone would be surprised to learn about you?
Sim: Well, I would say I’ve had a pretty, I would say, dynamic life so far. I, you know, I talk to a lot of people, you know, I said I kind of lived like your grandparents and I’ve lived in the age of iPads, basically in one lifetime. The reason I say that because at our farm my grandma owned, I lived there for about 3 years when I was younger and we didn’t have electricity or running water. So, that was very interesting.
Maddy: Yeah.
Sim: What we did have a little was, we did have some biogas. We used methane in the evenings to give us a little bit of electricity and you know, to do some things with. But that was very interesting so I remember that fondly. And also, from there I actually went to a boarding school after that so, I think a lot of people don’t know that and it’s not very common around here so, that’s something that’s probably a little different about me. So, yeah, it’s a cool perspective, you know, in the technology age and probably not even running lights or water.
Maddy: Yeah.
Sim: So, yeah, I have a pretty keen appreciation for what we have and you know.
Maddy: Yeah. Well, technology has it’s benefits but I’m sure sometimes you wish you could give your kids that experience that you had to get some perspective.
Sim: Yeah, a bit of break where you know, too much of anything is not good for us. So, I think too much technology could be harmful especially for growing minds and all that. You know, there’s so much to experience without being in your phones and in your videogames and so on and so forth. There’s a time for that, they do have to experience it because they have to be ready for technology and because it’s evolving they have to participate however it should be a balanced approach.
Maddy: Yeah, very well said.
Sim: Yeah.
Maddy: Is there a vacation, a favorite vacation that you have taken or a dream vacation that you would like to take?
Sim: Well, one of the favorite vacations, funny you mention that because spring break is coming up so we’re gearing up to go, was in Sedona, Arizona. Me and my wife went there and we really enjoyed it and so we’re taking our kids this Friday so we’re leaving in…
Maddy: Like in a few days, this Friday?
Sim: In a few days, correct because we just enjoyed it so much, just the atmosphere and so we wanted to experience that with them. Pretty much every vacation we’ve taken is with our kids. That was, I was at a conference and she joined me and then we were able to kind of head out there for a few days.
Maddy: Oh yeah!
Sim: And so, we said, you know what, we’re going to be back here and we’re going to bring our kids so that’s what we’re doing. So, that was a great time and we really enjoyed it so, I would put it up there as far as one of my favorites.
Maddy: We’re trying to think of a vacation to take in a few years so as I do these interviews, I’m making notes of like, where do you like to go? I never would have guessed Sedona.
Sim: Yeah, there’s some nuanced things going on over there. There’s talk about ley lines so, that’s gravitational things that are like, a feel-good type of things so, maybe that was impactful enough.
Maddy: Yeah, interesting.
Sim: So, it is interesting perspective, right? So, yeah.
Maddy: Is there anywhere else that you would like to go that you dream about?
Sim: Yeah, I’ve gone to Europe because I’ve had buddies in England and all that. I enjoy the atmosphere there as well, it’s laid back.
Maddy: Yeah.
Sim: So, I want to take the kids there. One of the things that I do want to do is the Viking cruise because you know, you get to experience, maybe a ten day, it’s a river cruise so, it’s not an ocean cruise. So, you can take a Mediterranean, you can an Egyptian, you can on the Nile, you can do various types of trips you can take so, I’m interested in that, you know, going on one of those and another thing that I really enjoy, I’ve read about it and I want to experience it, is the Oriental Express. Basically, there’s certain routes in North America that these trains take, like, there’s a Louisiana trip, there’s a trip on the West Coast, that’s pretty neat. That takes you through like 5 seasons on just one trip because it goes through the Rockies and all that and the west coast. And the Louisiana trip, they have their trains, even, decorated like old school with the, you know, the Western.
Maddy: Ah that’s neat.
Sim: And so, those are really neat. And the other thing, because I’m from Toronto, Canada and they had said one of the most scenic trips you can take is from Toronto area to all the way to British Columbia and so, perhaps closer to my retirement age or something, I’m interested in a couple of those.
Maddy: On your list.
Sim: Yeah so, that would be cool.
Maddy: Yeah, I’ve never heard of that so, that’s cool.
Sim: Yeah, yeah.
Maddy: That would be neat. Would do like to do for fun?
Sim: Lately, it’s just been following the kids around, really. I mean, I enjoy watching their sports and also, academically. You know, it’s fulfilling that you’re able to nurture another human being and then their doing well in whatever they’re a part of.
Maddy: Yeah.
Sim: And so, I really enjoy that and I participate in coaching them, I’m engaged in that in their lives in that capacity also so, yeah, I just kind of enjoy following them around and seeing what they’re up to. So, again, those are part of the life stages that I’m going through and I just want to make sure we take it in, you know, while it’s here.
Maddy: Yeah, that’s good perspective to have. I’ve heard that a lot, that it’s just the stage that you’re in with kids and sports and their busy with their activities and that’s just what you do in your free time because that’s where you’re at right now.
Sim: Absolutely.
Maddy: And yeah, like you said soak it in because it goes by very fast.
Sim: Yeah, it’s life stages, right?
Maddy: Yeah.
Sim: That’s how I talk to even to our members here, you know, we talk about the life stages that they’re going through and meeting them during that life stage through offer them their products and services and be part of that so, I think it just impacts us all in a similar fashion and yeah.
Maddy: Seeing as how we work for a credit union, I had to ask, what your favorite thing to spend your money on is and your least favorite thing?
Sim: Well, I had to think about that a little bit. I think most of my money is getting spent on the kids again.
Maddy: Yeah.
Sim: You know, because they’re growing, so you need, you know, all apparel, and shoes and everything else. So, but I also enjoy that, I want them to have things that I didn’t have when I was growing up and experience all of that, within means. And so, we spend on the kids, you know, when we can and the least favorite I would say, I thought about this, is going to concerts and paying for concerts where you have seating or sitting and watching a concert. I don’t like that. I know it’s a wonky comment there but yeah, I’m not a big concert guy but when you go to it, you want to enjoy that, right?
Maddy: you want to be like standing and like,
Sim: Yeah and be able to dance and move and
Maddy: Dancing
Sim: And be able to do it.
Maddy: Yeah, okay, I get that.
Sim: A couple of concerts that I’ve gone to it was at Van Andel Arena and it was like you’re, we were up on the 3rd floor and I went there because my daughter wanted to go and you’re just sitting there and like, wow, when you stand up you feel like you’re going tip over and fall.
Maddy: Yeah, no thank you.
Sim: And it was like, yeah, it was like, at the top or higher up so, that, yeah, I would rather not pay for that experience.
Maddy: I get that. You’re listening to music so that makes total sense, I never thought about that before.
Sim: Yeah, especially, to go and see a musician that you care for and all that and you’re into that music, why would you want to be sitting around and going to just hang out there? I understand that’s how things are but I wouldn’t want to, yeah.
Maddy: Yeah, no I get that. Alright so, that was the last question that I sent you but I do have a lightening round.
Sim: Okay.
Maddy: So, we’re going to do a this or that.
Sim: Okay.
Maddy: So, are you ready?
Sim: Sure!
Maddy: Okay. Coffee or tea?
Sim: I like tea.
Maddy: Okay. Do you like it iced or hot?
Sim: Hot.
Maddy: Okay. Summer or winter?
Sim: Summer.
Maddy: Hulu or Netflix?
Sim: Neither.
Maddy: Are you not a big TV watcher?
Sim: I am but I don’t have any of those streaming services at the moment
Maddy: Okay, gotcha.
Sim: But, Netflix has been around longer, sure, if I had to pick I’ll go with Netflix.
Maddy: Okay, I mean no big deal if you want to say neither, I won’t hold you to it.
Sim: Yeah.
Maddy: Online shopping or do you prefer to go to the store?
Sim: I’m getting used to online shopping, not that I do a lot of it. I prefer stores.
Maddy: Are you an early bird or more of a night owl?
Sim: I used to be night owl but as I get older I’m becoming an early bird.
Maddy: Up and at em.
Sim: Yes.
Maddy: Do you prefer cats or dogs?
Sim: Dogs.
Maddy: Texting or calling?
Sim: Texting is, yeah.
Maddy: Texting? Do you like to eat in or would you rather go out to eat?
Sim: I’m becoming more and more of an introvert. I enjoy eating inside but yeah.
Maddy: You got out when it’s…
Sim: Yeah, we’re doing it all the time because if you’re running into kids’ sports activities or something, right?
Maddy: Oh, yeah.
Sim: You got tournaments so you’re eating out a lot but I guess your question is, you’re still ordering, you’re bringing it in, right?
Maddy: Yeah. You’d rather stay inside the house?
Sim: Yeah.
Maddy: Last one. The beach or mountains?
Sim: Mountains, Gandolf. Yeah, I for some reason, yeah, I like the beach but there’s only so much I can kind of lay around there and yeah, water is good but you know, I’ve gone to the Himalayas and gone on a couple of those trips and I really have a fondness for them. It’s just a different feeling altogether. I was actually talking to my spouse the other day, and I was like, yeah, we got to kind of make a trip out to the Rockies or something too or maybe even the Arizona trip, if we take it, we can go through Colorado and maybe see some of that would be interesting. So, yes, I do enjoy the mountains, I think they have a different feel altogether and yeah.
Maddy: Especially compared to here where we don’t have that.
Sim: That. Absolutely.
Maddy: Anywhere around us.
Sim: Yeah, no I’ve been to the Himalayas where you can only drive so far then you have to walk, climb 13 miles and then there was a steep climb another 6 miles.
Maddy: Wow.
Sim: And it was in a pilgrimage, really, back then and it was just in college and I thought I was pretty fit and I can do that and I did do it but yeah, it was something that was pretty cool and I’ll have you know another thing that was very interesting of human feat that I’ve never seen anything like it, the people that couldn’t do that on their own because it was a pilgrimage, there were people that carried them on their backs. And it could be a human being that could weigh up to 300 pounds that these Sherpas, if you will, up their back twice a day at times. And so, the neatest experience was I was able to, speaking of tea, I was able to buy tea for all of the them when I was up there because we spent the night after the 13-mile climb and so, that was a cool experience just to share that with them. And so, I’ll never forget that. So, yeah, I guess that goes along with why I probably do have some fondness for the mountains.
Maddy: Yeah.
Sim: It’s just been a good experience.
Maddy: You’ve had so many neat experiences. We were talking before I was recording that you just have, I feel like, life stories that could go on and on for days and I’d be happy to listen to them.
Sim: Yeah, they’ve been cool perspective and you know, you forget about those as you get in to your day to day and all that, what kind of cool life or perspective that maybe you’ve had. So, I do like sharing with the people around here so we get into those conversations as well but yeah, it certainly is, I’m thankful for having those experiences for sure.
Maddy: Yeah.
Sim: Now that I look back on it.
Maddy: Alright, well that’s all I have for you. Thank you for chatting with me today!
Sim: Thank you, Maddy.
Money Talk is a podcast brought to you by PFCU. PFCU offers many products and services to fit your needs, from our various loan and account options to our team of financial coaches to help you reach your goals. Make sure to take advantage of the many conveniences PFCU offers such as the mobile app, mobile wallets, bill pay and more. Visit our website at PFCU the number four me dot com to learn more. PFCU is an equal housing lender and is federally insured by the NCUA.