BOK Financial, a $31 billion regional financial services company, has promoted Marty Grunst to the role of chief risk officer, effective Aug. 1. He will report to President and CEO Steve Bradshaw and serve on the company’s executive leadership team.

After serving as treasurer for the last seven years, Grunst is assuming the chief risk officer role from Executive Vice President Don Parker, who has served in a dual capacity as chief information officer and chief risk officer since 2013. The company said it is splitting the position into two distinct roles to continue to position for future growth of the organization.

Parker was tasked with building a new, central compliance function for the company and developing a model BSA-AML program. “It has always been our intention to move the CRO position to another individual when the initial work to build the division was complete,” Bradshaw said. Now Grunst will be charged with “taking what’s been established and driving it forward as our company continues to grow and expand,” he said.

Grunst joined BOK Financial in 2009 as senior vice president and treasurer. Since that time he has built a strong balance sheet management process and a successful Dodd-Frank Act stress test program. Balance sheet management strategies put in place under his leadership during the recent low interest rate environment continue to be a significant driver of shareholder value for BOK Financial.

With more than 30 years of banking experience, Grunst has served in a number of roles throughout his career including loan operations, mortgage secondary marketing and investor accounting, acquisition planning for credit card, merger integration for business banking, corporate finance, and asset liability management. He also managed finance for lines of business including commercial real estate, retail and consumer lending.

As treasurer, Grunst was part of the company’s finance division leadership, working directly for Chief Financial Officer Steven Nell. Nell will temporarily assume Grunst’s duties as treasurer, while conducting an internal and external search to fill the position permanently.