Maurice S. Smith Divisional Senior Vice President, Business Development and Subsidiary Management, Health Care Service Corporation
“ Don't outsource your decision making. Get a reasonable amount of facts and understanding, and act decisively.”
Maurice Smith explains his role in a straightforward manner, “To the lay person, I’m head of mergers and acquisitions, or business development, for Blue Cross Blue Shield.” His official role is divisional senior vice president, Business Development and Subsidiary Management for Health Care Service Corporation (HCSC), where he is responsible for all merger and acquisition strategic relationships and accountable for management of merger processes from deal negotiation to execution. Smith is also chairman of the Board of HCSC’s subsidiary Dearborn National Life, Disability, and Dental, where he is responsible for strategy, leadership, and execution. Adds Smith, “And that comes along with more than 12,000 employees and $600 million in revenue.”
Twenty years ago, Smith joined HCSC as an accounting intern. From there, he worked his way up through junior staff accountant to manager to vice president Financial Reporting, his immediate previous role, where he handled all financial reporting systems and regulatory filings for the $40 billion corporation. “I was a long-term financial professional who had done a broad array of finance things. Thankfully, my successes in all those roles led the company to give me new and different opportunities and I evolved as a leader.” As it is for any head of acquisitions, much of Smith’s role is looking for ways to do business faster, better, and cheaper. But he strongly warns against twisting the cheaper or faster dials too far. “Just because it’s faster doesn’t necessarily mean it’s good. In my world, it’s really trying to figure out how to set those dials such that it makes sense for the end customer.”
Smith also spends a great deal of his time helping budding leaders at his organization, as well as family, friends, and grade school students. “My personal greatest success is that I mentor and coach a ton of people. Helping others believe in their own greatness, and to do amazing things, has been my greatest joy.”
• Current Board roles:
- Chicago Sinfonietta, serving as co-chair of the Finance Committee - Planites Credit Union, serving as Treasurer - Heritage Group, serving on the Advisory board
• “Being of the people, understanding the
contributions of those below you, to the side of you, and above you, makes for an effective leader.”
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