7 technology C-suite changes at banks, fintechs in September

September 30, 2024 3:21 PM

Two community banks hired chief information security officers in September, while a regional bank promoted its chief operating officer to chief information officer and Citigroup made changes to its compliance oversight following regulatory scrutiny.

In the fintech space, a card issuer signaled the significance of artificial intelligence to its business with the appointment of its first chief AI officer, while a home equity line of credit lender established a chief legal officer position.

Here are the seven biggest new hires and leadership changes of the month in banking, payments and fintech:

CHRIS HOPE

Figure Technology Solutions hires its first chief legal officer

Figure, which extends home equity lines of credit as well as loans backed by cryptocurrency, has appointed a former prosecutor and general counsel as its first chief legal officer and corporate secretary.

Ron Chillemi, who will lead legal and compliance functions at the New York City company, has experience in the HELOC space: He was general counsel of Aven, a credit card provider that secures the card with the user's home, as well as deputy general counsel at mortgage lender Better. He was a partner at Robins Kaplan LLP and spent seventeen years as a prosecutor at the city, state and federal levels.

"Throughout his career, Ron has built an exceptional track record, overseeing robust legal and compliance functions and helping to shape important state and federal legislative frameworks," said Michael Tannenbaum, CEO of Figure, in a press release.

Figure was founded by Mike Cagney, who also co-founded and served as CEO of Social Finance, or SoFi Technologies.

Pagaya’s new chief risk officer will use AI in risk management

Pagaya Technologies has hired a new chief risk officer to replace Harish Sharma, who left to pursue other opportunities.

Rajinder, or Raj, Singh, most recently served as chief risk officer for NewRez/Caliber Home Loans, a residential mortgage lending and servicing company. He has also held senior leadership roles in risk management at Citigroup, U.S. Bancorp, Genworth Financial, Ally Financial and G.E. Capital, according to his LinkedIn profile.

"His expertise and leadership will be instrumental as we navigate the complexities of our industry," said Sanjiv Das, President of Pagaya, in a press release.

Pagaya uses artificial intelligence to analyze data points that help banks and fintechs issue loans to borrowers who might otherwise be rejected under their legacy underwriting models. It counts Ally Financial, SoFi Technologies, U.S. Bancorp and Visa among its customers. Leslie Gillin, the company's chief growth officer, was named one of American Banker's most influential women in fintech in 2024.

"The opportunity to leverage AI, big data and cutting-edge technology in risk management strategies, all in an effort to expand access to financial opportunities, is something I'm particularly passionate about," said Singh in a press release.

Allison Daniels named chief information officer at First National Bank

Allison G. Daniels has transitioned into the role of senior vice president and chief information officer at First National Bank, a subsidiary of Pinnacle Bankshares Corporation, based in Altavista, Virginia. The bank announced the move on Sept. 11, following the appointment of the bank's first chief technology officer last month.

Daniels has been with First National for 11 years, most recently as chief operating officer. In her new role, Daniels will maintain responsibility for information technology, cybersecurity, fraud, compliance and facilities, according to the bank.

"Allison has done a remarkable job strengthening our IT environment and posture as it pertains to cybersecurity," said Aubrey H. Hall, III, president and CEO of Pinnacle and First National. "She will continue to serve in a critical role for us going forward."

Daniels has over 29 years of banking experience. She serves as a member of the board of directors of the Parkview Community Mission, a nonprofit pantry in Lynchburg, Virginia. She has helped develop and provide instruction in financial literacy and job skill classes for the mission.

Daniels holds a bachelor of science degree from Liberty University in interdisciplinary studies and business and is a graduate of the Virginia Bank School of Bank Management and the Graduate School of Banking at Louisiana State University.

In addition to her other roles, Daniels also serves as First National's Community Reinvestment Act, or CRA, officer.

Tim Ryan to share data compliance responsibilities at Citigroup

Tim Ryan, formerly an accountant and top PwC partner, will share responsibility for data compliance at Citigroup alongside chief operating officer Anand Selva, American Banker reported Sept. 16. The change comes after two regulators called out the company's data quality management processes for inadequacies.

Ryan joined Citi in June 2024 as head of technology and business enablement. In the role, he has been responsible for leading both the bank's technology and legacy franchise teams. Legacy franchises are those that Citi is selling or winding down.

The move comes about two months after Citi was fined a combined $136 million in civil penalties by the Federal Reserve Board and the Office of the Comptroller of the Currency. The regulators said the megabank violated an October 2020 consent order by failing to address deficiencies in its risk management programs.

Having Ryan lead the data team, which has about 800 employees, is unrelated to the latest fines, the company said Monday. It's something that Citi has been intending for a while, it said.

At PwC, Ryan was in charge of the accounting firm's strategy and execution, as well as 75,000 employees, and is "adept at leading large-scale transformation," according to the bank's biography of him, in which he is also credited with "bringing workforce and business operations into the digital age."

Ryan serves on the board of The Brookings Institution as well as the Trustees of the Financial Accounting Foundation, where he co-chairs the Standards Oversight Committee. Ryan has six children and is passionate about spending time with his kids, hockey, running and reading.

Marqeta hires first chief AI officer

Card issuing platform Marqeta has installed Fouzi Husaini as its first chief artificial intelligence officer — an emerging role that signals the company is taking AI seriously.

"His deep knowledge of AI and machine learning, combined with decades of on-the-ground AI leadership at top companies, will be instrumental in shaping our technology roadmap and leveraging AI to expand our capabilities in transaction intelligence, fraud prevention, and customer service," said Randy Kern, chief product and technology officer of Marqeta, in a press release.

Marqeta has already been investing in generative AI. For instance, in August 2023 it launched Marqeta AI Docs, an external-facing tool that lets people navigate its guides and application programming interface documentation by asking questions and receiving answers. Husaini, who will expand Marqeta's roster of AI features, has experience deploying models in the financial services space. Most recently, he served as vice-president of machine learning engineering at Capital One, where he built machine learning models to support Capital One's credit products and services. He also led a technical team at Amazon that delivered AI/ML customer-facing experiences to Alexa customers.

"Payments is inherently a data-driven business, and its potential to harness AI and machine learning to solve complex customer problems is enormous," said Husaini in a press release.

In October 2023, Marqeta announced a new credit card platform that lets brands directly offer credit cards within their own websites and applications and customize rewards through their own dashboards.

Provident Bank welcomes Vivin Varghese as chief information security officer

Provident Bank, headquartered in Iselin, New Jersey, announced Sept. 23 that Vivin Varghese had joined the organization as senior vice president and chief information security officer.

In this role, Varghese will provide vision, leadership, oversight and management of the overall information and cybersecurity policies, procedures, and practices of the bank and its subsidiaries. He will also advise the bank's executive leadership team and staff on the appropriate administration of information security standards, assisting in developing plans within business units to manage risks effectively by understanding the fundamental aspects of business objectives.

"I am delighted to welcome Vivin to our team," said Ravi Vakacherla, executive vice president and chief digital and innovation officer for Provident. "He possesses an impressive breadth and depth of experience in security engineering, security operations, identity governance and assurance, and governance risk and compliance functions."

Varghese has 16 years of experience in the information security space. Most recently, he served as CISO of Customers Bank, with responsibility for digital and physical security, including business continuity, incident response, threat intelligence and third-party risk. Prior to that, he was the information technology manager with the University of Pennsylvania.

Varghese earned a bachelor of science degree in business administration and management information systems from Drexel University.

Capital City Bank names Matthew Henderson chief information security officer

Matthew Henderson will be chief information security officer of Capital City Bank, headquartered in Tallahassee, Florida, effective October 1. He will succeed LeAnne Staalenburg McCorvey, who will retire on December 31, 2024. The bank announced the moves on Sept. 25.

In his new role, Henderson will lead the bank's corporate security and risk department, overseeing both the information and physical security teams. His responsibilities include developing, overseeing, monitoring, managing and reporting on the security program.

Henderson started with Capital City Bank in September 2022 as an information security officer. In this role, he focused on information security, physical security, vendor management, business continuity and incident response initiatives.

"Matt's extensive experience and proven expertise make him an ideal choice to lead our corporate security and risk department," said Bill Smith, Capital City Bank Group chairman, president and CEO. "I am confident that under his leadership we will continue to uphold the highest standards of security and risk management."

Henderson is a member of Celebration Baptist Church in Tallahassee, the Masonic society Shriners International and the Tallahassee Tennis Association. Additionally, he volunteers with Big Brothers Big Sisters of the Big Bend, also in Tallahassee. In his spare time, he enjoys spending time with his wife, Brittony, and their two children.