Mastercard Appoints Karen Griffin as Chief Risk Officer

Mastercard (NYSE: MA) announced the creation of two new leadership positions to accelerate the company’s delivery against its strategic priorities.

Karen Griffin, currently the company’s Chief Compliance Officer, will “take on a new role as Chief Risk Officer.”

The ability to manage an organization’s risk appetite in order “to maximize growth opportunities has become increasingly important in recent years.”

In this new role, Karen will aim to “strengthen the company’s risk management strategy and activities, building on the robust processes and procedures currently in place.”

Jennifer Rademaker has been “named Chief Future of Work Officer, underscoring the company’s unyielding focus on people and culture.”

She will “lead all aspects of future of work for Mastercard – from programs that support flexibility, to office spaces, to tools and resources that enable employees to deliver their best work.”

Michael Miebach, president and CEO of Mastercard, said:

“These new positions strengthen our company and reinforce our deep leadership bench around the world. I look forward to what Karen and Jennifer will bring to these incredibly important positions. Their unique skills and experiences will help the company navigate an ever-evolving industry and world.”

Both appointments are “effective immediately.”

In another recent update from Mastercard, it was noted that market uncertainty and increased costs continue “to challenge small businesses, and many will rely on extended credit lines and loans to weather the current environment and grow their businesses.”

Mastercard is announcing that it has “added advanced analytics to its Open Banking platform delivered by its subsidiary, Finicity in the U.S.”

These analytics can “help lenders manage their risk profiles while also adding diverse and inclusive credit models for small business loans as well as ongoing monitoring and expansion of credit card lines.”

Jess Turner, Mastercard’s Executive Vice President for Global Open Banking and API, said:

“Small businesses are increasingly looking for greater choice in how they borrow, pay and manage their finances. Open Banking provides lenders the owner-permissioned data and advanced analytics they need to offer more choice in financial services to small businesses, which are the backbone of the American economy.”

According to Mastercard’s Rise of Open Banking Small Business Report, 85% of small business owners are “looking for more choices that deliver faster and easier access to capital.”

Sponsored Links by DQ Promote



Send this to a friend