- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
SVB Financial Group, parent company of Silicon Valley Bank, announced the appointment of Kim Olson as chief risk officer.
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A bill proposed by a House Democrat would require large banks to have a chief risk officer and notify relevant regulators when the position becomes vacant.
For eight months last year, Silicon Valley Bank went without an established chief risk officer. The ramifications of that decision are hard to ignore in the wake of the bank’s hasteful failure.
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
