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Chief Risk Officer appointed to The Cambridge Board PDF Print E-mail
Monday, 24 August 2015

The Cambridge Building Society has appointed Victoria Stubbs as its first Chief Risk Officer to its Board in a move that underpins the organisation’s determination to evolve to meet customers’ needs.

With the PRA and FCA both keen to ensure the Chief Risk Officer is sufficiently senior in an organisation this appointment demonstrates the Society’s commitment to protecting its customers. It’s seen as a key part of plans to continue to change and develop to meet both existing and future customer needs.

As Victoria, explains: “Managing risk is core to what every bank and building society does. The recent financial crisis demonstrated the vital importance of good risk management and one of the most effective ways of doing this is to ensure sufficient risk representation at Board level.   There is a growing trend for Chief Risk Officer to become a board level position”

Victoria joined The Cambridge as Head of Risk in May 2014 and is a skilled risk and compliance leader, with experience and understanding of both conduct and prudential issues.

An experienced Financial Services Authority supervisor with a background in banking, Victoria was involved in the FSA’s work on PPI and the early roll out of the Treating Customers Fairly framework.
As Chief Risk Officer Victoria will be overseeing all aspects of The Cambridge’s operation to ensure that future developments are managed in such a way that the ongoing sustainability of the business is maintained.

Chief Executive Stephen Mitcham said: “Victoria brings to Board a variety of experiences gained at both the FSA and various commercial organisations that will enhance the Board’s understanding of how we can find opportunities to grow and develop the business whilst remaining within our prudent risk appetite and ensuring we put our customers’ at the heart of what we do.”

As a University of Cambridge graduate and living in Ely Victoria has a strong understanding of the local housing market which will help the Board maintain and strengthen its underlying knowledge of the area’s housing needs.

Victoria says: “I feel very excited about being appointed a Director of The Cambridge.  The Board is looking to grow and develop the Society for the future and this is a great opportunity to be part of that journey.”

(Source - The Cambridge Building Society Press Release)


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