William Bonnell, executive vice president, risk management, and chief risk officer of National Bank of Canada (NBC), has been elected chair of the Risk Management Association (RMA).
Michael Nassy, executive vice president and chief credit officer of FVCbank, was elected vice chair.
Jodi Richard, vice chair and chief risk officer of US Bancorp, was elected treasurer. Their one-year terms begin September 1, 2020.
“We are excited with the diversity of skills, backgrounds, and experiences of the members of our board, and it will be an honour to work with them,” said RMA president and chief executive officer Nancy Foster.
“Through the board’s dedication and support, RMA members will benefit from the resources needed to manage the evolving risks of COVID-19, and be in position to optimise their performance in any economic environment.”
As NBC’s CRO, Bonnell is responsible for enterprise-wide risk management including credit, market, and operational risks, as well as compliance. He previously held leadership positions in capital markets trading, credit risk, and market risk management while working in Montreal, Toronto, London, and Dublin.
“I look forward to serving as chair this year with such outstanding board members and officers. I believe strongly in the purpose and vision of RMA, especially during these difficult times.
“The stronger we can make our common risk management practices, the more resilient our organisations will be, putting us in an even better position to support our clients and communities,” said Bonnell.
Nassy sets the credit culture for the bank and oversees all credit-related activities including concentration management and stress-testing, loan policies and procedures, loan servicing and documentation, and loan approvals, along with the allowance of loan and lease losses (ALLL).
Richard oversees all aspects of the company’s risk management activities, including operational risk, credit risk, market risk, model risk, global compliance, anti-money laundering/Bank Secrecy Act, independent risk review, and regulatory services.
Newly elected to the RMA board of directors for three-year terms are Julie Nosser, director, credit risk administration, Hancock Whitney Bank, New Orleans, who will chair the Chapter Development Council; Crystal Humphreys, senior vice president and director of risk management, American National Bank of Texas, Terrell, Texas, who will chair the Community Bank Council; Mark A. Whipple, global co-head of securities lending, Invesco, New York, who will chair the Securities Lending Council; and John K. McNamara, managing director and deputy chief auditor, BNY Mellon, New York, who will chair the Internal Audit Council.
Risk Management Association, Appointment, Risk management, Insurance, Reinsurance, William Bonnell, Canada