Financial services provider TIAA has appointed David Nason to the newly created position of chief risk and compliance officer, effective Sept. 16. He reports to Senior Executive Vice President and Chief Oversight and Advocacy Officer John Douglas.
In this newly created position, Nason will lead the combined risk management and compliance functions for the company. This will assist TIAA as its risk and compliance needs evolve in a dynamic market, the company said.
“David’s extensive leadership experience in financial services organizations will serve TIAA well in today’s rapidly changing and complex regulatory landscape,” Douglas said. “As our businesses become more integrated, it is important that our oversight and control functions are closely aligned. This alignment will assist our businesses and lead to better outcomes for our customers.”
Prior to joining TIAA, Nason served as president and CEO of GE Energy Financial Services, GE’s worldwide energy investing business, with an asset base of $15 billion. Prior to that, he served as the chief regulatory and compliance officer at GE Capital, where he created a strategy, organization, and operating framework for the $600 billion asset financial institution. In that role, he partnered with top executives to deliver risk management, capital planning, regulatory and legal affairs, and policy advocacy.
He also served as assistant secretary for financial institutions for the U.S. Treasury, where he was instrumental in the government’s response to the 2008 financial crisis and served as lead advisor on banking, securities, and housing-finance regulatory matters. Previously, he held roles at the U.S. Securities and Exchange Commission and the law firm Covington & Burling.