RATESETTER has appointed Joanna Wright (pictured below) as chief risk officer, as part of the peer-to-peer lending platform’s recent strive to boost its risk management and reporting efficiency.
Wright joins from GE Capital Bank, where she headed a team of over 200 risk professionals and chaired the enterprise risk management committee. She was also a member of the executive board and held a number of roles focused on acquisition finance.
Before her tenure at the UK financial services unit of the multinational conglomerate General Electric, she also served as manager of acquisition finance at NatWest Markets.
At RateSetter, Wright will oversee and manage credit risk across the consumer and commercial lending businesses starting from 11 September, while also supervising operational and conduct risk for the platform’s wider business.
She will be a member of the executive team, participate in the board’s meetings and sit on the board risk committee.
The new appointment is a pivotal hire for the firm as its top risk seat remained vacant since Cyrille Sallé de Chou’s departure to HSBC in December 2016.
The appointment comes hot on the heels of key upgrades to the company’s risk strategy and modelling, as the firm recently boosted its risk reporting and expected losses methodology.
“Excellent risk management is central to our business,” said Lewis, “and over the last couple of years we have gradually built up a very good team of experienced people.
“I am delighted that Joanna is joining the team to provide leadership and to help us manage the next stage of our development.”
Wright said she particularly appreciated RateSetter’s innovative lead in “providing retail investors with a new way to add real value to their portfolios.”
“I am looking forward to joining the team at this exciting phase of RateSetter’s development and contributing my risk management skills and experience as the business grows and delivers for its customers,” she said.