Executives

SEC Appoints Ex-Morgan Stanley Exec as First Chief Risk Officer

The Securities and Exchange Commission introduced the appointment of its first Chief Risk Officer (CRO) on Thursday night. Gabriel Benincasa, a lawyer with an array of expertise at totally different monetary establishments, will substitute appearing CRO Julie Erhardt.

“It is an honor to serve America’s traders and markets because the SEC’s first [CRO],” stated Benincasa. “I stay up for becoming a member of the crew and constructing upon present applications to assist the company sort out present and future challenges.”

Asia Trading Summit – The Leading Investment Event in China

sec croGabriel Benincasa, the SEC’s new CRO

Most banks and different monetary establishments are, after all, required to have some type of CRO. With rising regulatory scrutiny and large fines for infringing upon compliance guidelines, the significance of the CRO function has been rising for the reason that monetary disaster passed off a decade in the past.

Thus, it’s not too shocking to see a regulator, particularly one as revered because the SEC, appoint its personal CRO. It was Jay Clayton, the regulator’s Chairman, that determined to create place.

“Establishing the [CRO] place on the SEC is a crucial step ahead in our persevering with efforts to strengthen the company’s threat administration program,” stated Clayton.

Strengthening cybersecurity on the SEC

According to an announcement launched by the regulator, Benincasa will likely be advising different executives on enterprise dangers and controls. On high of that, he’ll be trying to bolster the SEC’s cybersecurity efforts and establish, and defend in opposition to, every other dangers going through the regulator.

“Gabe is an skilled senior chief with deep threat, authorized, compliance, and monetary markets experience,” continued Clayton. “I’m sure we are going to profit from his recommendation and insights. I additionally wish to thank Julie for giving us a operating begin on this initiative.”

Erhardt, who had been appearing CRO because the SEC appeared for somebody to take the place, will stay with the regulator. She will return to her prior place as  Deputy Chief Accountant for Technology and Innovation.

 

!perform(f,b,e,v,n,t,s){ if(f.fbq)return; n=f.fbq=perform(){ n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n; n.push=n; n.loaded=!0; n.model=’2.0′; n.queue=[]; t=b.createElement(e); t.async=!0; t.src=v; s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window,doc,’script’,’https://join.fb.web/en_US/fbevents.js’); fbq(‘init’, ‘2151954781716318’); fbq(‘init’, ‘1802203759860657’); fbq(‘monitor’, ‘PageView’);

Tags
Show More

David

David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close

Adblock Detected

Please consider supporting us by disabling your ad blocker