Board of Pensions promotions strengthen agency as it serves the changing Church

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PHILADELPHIA — The Board of Pensions of the Presbyterian Church (U.S.A.) has announced two significant executive promotions as the agency evolves to maintain the health of the denomination’s Benefits Plan and support congregational ministry.

Executive Vice President Michael F. Fallon Jr., longtime Chief Financial Officer (CFO), has been named Chief Operations Officer (COO). Staci M. Wilhelm has assumed the role of Executive Vice President and CFO, having previously served as Vice President and Deputy CFO. Both are Executive Team members and report to the agency’s President, the Rev. Dr. Frank Clark Spencer.

In addition to denominational shifts, rapid advancement in technology and an increasingly complicated benefits world have placed demands on the agency and its staff. “Out of necessity, our operations have grown considerably more complex in the last decade as we have kept up with changes outside of the Church,” Spencer said. “Having both Mike and Staci on the Executive Team will strengthen us in every aspect of our work.”

Fallon is intimately familiar with Board of Pensions operations. He joined the agency as Director of Internal Audit in 1988, one year after the Benefits Plan of the PC(USA) took effect, following the 1983 reunion of the Presbyterian Church in the United States (PCUS) and United Presbyterian Church in the United States of America (UPCUSA). A certified public accountant, certified employee benefits specialist, and graduate of Villanova University, Fallon was promoted to Assistant Controller, then Controller before being named Vice President of Finance in 2001. He was named Executive Vice President in 2016 and worked closely with Spencer in establishing an exceptional financial foundation.

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“This agency has made tremendous advancements in the last decade in benefits offerings, technology, and operations,” said Fallon, who as COO is responsible for strategic planning, infrastructure, and oversight of all cross-departmental initiatives. “We will continue to build on the agency’s accomplishments, and I’m honored to be part of that.” 

Wilhelm, a certified public accountant, joined the Board of Pensions two years ago. With nearly 30 years of financial experience, she spent 23 years in public accounting, advancing through assurance services roles with national middle-market firms and specializing in audits of investment companies and employee benefit plans. She later served as Chief Accounting Officer at J.G. Wentworth, a provider of direct-to-consumer financial solutions.

As CFO, Wilhelm oversees financial reporting, planning and forecasting, treasury, internal audit, vendor management, and day-to-day financial operations. She holds an MBA from the Fox School of Business at Temple University and a Bachelor of Science in accounting from La Salle University, where she also serves as adjunct accounting faculty.

“I am deeply grateful for the opportunity to work alongside such a dedicated team and inspired by the work that lies ahead,” Wilhelm said. “Our financial strength is a testament to the hard work and commitment of everyone involved. My focus will be on maintaining that stability while leveraging that strength to meet the Church’s evolving needs and supporting ministry.”

The Board of Pensions supports wholeness in the Presbyterian Church (U.S.A.) community and care for Benefits Plan members. For information, contact info@pensions.org.