U.S. Bank has named Jodi Richard as its new vice chairman and chief risk officer, overseeing the company’s risk management and compliance efforts as it continues its legacy of developing and maintaining strong risk management capabilities, the company announced.

She will succeed P.W. Parker, who previously announced his intention to retire this fall. The handoff between leaders will begin in the next few weeks to ensure a smooth transition, with an effective date of Oct. 1. Richard will join the company’s managing committee and will report to Chairman, President and CEO Andy Cecere.

Richard is currently the company’s chief operational risk officer, overseeing operational risk management and independent testing functions, which encompasses everything from operational loss mitigation and risk control assessment to consumer complaint management, fraud risk management, third party risk management, data protection and governance, model risk, payments risk, enterprise security and crisis management.

Prior to that role, she spent more than a decade at HSBC in positions of increasing responsibility in risk management and regulatory compliance. She also spent 12 years in the Office of The Comptroller of the Currency (OCC) as a national bank examiner specializing in retail credit and worked as the chief compliance officer at a large credit card bank.

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