American International Group has named Sid Sankaran senior vice president and chief risk officer, effective as of Nov. 8. He will report to Peter Hancock, who was hired in February as executive vice president to oversee finance and risk.

Sankaran succeeds Robert Lewis, who announced in October his intent to retire from AIG after a 17-year career with the New York-based insurer.

Prior to joining AIG, Sankaran was a partner in the finance and risk practice at consulting firm, Oliver Wyman Financial Services, where he headed the firm’s Toronto office. He also was a member of Oliver Wyman’s global management committee, working the past five years with financial services executives on risk management issues.