CIT Group, a provider of commercial lending and leasing services, has appointed Paul Tufaro as chief compliance officer, effective immediately. He will report to Executive Vice President and Chief Risk Officer Robert Rowe.
In addition to managing CIT's compliance department, Tufaro's primary responsibilities will include executing on enterprise-wide compliance programs focused on consumer protection, fair lending and anti-financial crimes. Tufaro will also work to ensure CIT fosters a culture of compliance and responsible finance across the organization.
Tufaro joins CIT after six years at Citigroup, where he most recently served as the global head of the corporate compliance group within the compliance department. In that role, he led a large team in executing the enterprise-wide prudential bank regulatory and privacy compliance programs, as well as core compliance processes, including those related to risk assessments, metrics and analytics, and corporate policy.
Prior to Citigroup, he served in various roles in both legal and compliance at Bank of America Merrill Lynch, the Royal Bank of Scotland, and Evercore Partners. Earlier in his career, Tufaro worked as an attorney in the bank regulatory practices of the international law firms Mayer Brown and Sidley Austin.