Oriental Financial Group Inc. in San Juan, Puerto Rico, has created the position of chief risk officer and has tapped its chief financial officer to take on the role.
Norberto González will have responsibility for enterprise risk management, asset and liability management, compliance and internal audit. He will also oversee loan review, loss-share and regulatory relationships.
Ganesh Kumar, who is currently chief operating officer, will succeed Gonzalez as CFO, but will do so in an expanded capacity. He will oversee corporate finance, strategic planning, accounting and reporting and business analytics. Kumar will continue to manage the wealth management business and administrative functions, such as human relations and information technology.
The company said in a press release Friday that the appointments will be effective Feb. 1. The changes reflected growth in the $6.9 billion-asset company’s commercial credit portfolio and expansion of products and services in a more-complex regulatory environment.
González, 53, joined Oriental in 2003; he became the CFO in 2006. Kumar, 48, joined the company in 2004 and was named its chief operating officer five years later.
