Massachusetts Mutual Life Insurance Company (MassMutual), a mutual life insurance company, has appointed Geoffrey Craddock as chief risk officer, effective immediately. He reports directly to President and Chief Executive Officer Roger Crandall and joins MassMutual from its OppenheimerFunds, asset management affiliate.
Craddock moves into a position previously held by Elizabeth Ward, prior to her being named MassMutual's chief financial officer, and assumed on an interim basis by Brad Hoffman. As chief risk officer, Craddock will be responsible for identifying and managing global operational and reputational risks across MassMutual and its subsidiaries, while establishing the appropriate strategic priorities for the enterprise risk management function. Hoffman will continue to be a part of MassMutual's enterprise risk management team, reporting to Craddock.
Craddock began his career in the 1980s in a range of trading and brokerage positions with various investment banks in Europe, including Charterhouse Bank; Banque Indosuez; Donaldson, Lufkin & Jenrette; Paine Webber, and Phillips & Drew.
Upon joining OppenheimerFunds in 2008 as director of risk management—and following a period of historic financial volatility in markets around the world—Craddock played an integral leadership role in successfully advancing the firm's risk management and asset allocation capabilities, including governance structure. Subsequently, he was appointed OppenheimerFunds' chief risk officer in 2010.
Immediately prior to his employment at OppenheimerFunds, Craddock was global head of market risk management for Canadian Imperial Bank of Commerce (CIBC), where he oversaw global market risk management for the bank's investment banking, trading, and retail activities.