Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks.
The New York company on Friday promoted Wahida Plummer, who was previously in charge of regulatory matters, to chief risk officer and expanded the role of its chief credit officer.
The new current expected credit loss (CECL) standard under the FASB is expected to be implemented in 2020. Many firms are well underway in organizing teams, conducting gap analysis, and reviewing interdependencies across the organization. Learn more on what your peers are considering in preparation for the new current expected credit loss (CECL) standard.
The New York company, which offers loans and provides personal finance advice, plans to expand its product line and invest in new technology with the funds.
Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.
Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service.
