- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-11-03T19:38:00
The chief risk officer at Citigroup is set to depart from his role in the wake of a $400 million enforcement action that ordered the firm to overhaul its risk management and compliance programs.
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Citigroup has successfully resolved key compliance shortcomings identified as part of a 2020 enforcement action but still has work to do to address data management weaknesses, according to federal banking regulators.
Kenneth Blanco has been tapped to lead a new financial crimes unit at Citi following his departure as director of the Treasury Department’s Financial Crimes Enforcement Network later this week.
Federal banking regulators fined Citigroup $400 million for failing to address “significant” risk and compliance failures.
