Mastercard promotes CCO to chief risk officer

Mastercard has promoted Karen Griffin to the newly created position of chief risk officer.

Griffin was previously chief compliance officer (CCO). ‘The ability to manage an organization’s risk appetite in order to maximize growth opportunities has become increasingly important in recent years,’ the company states in reference to the move. ‘In this new role, Karen will strengthen the company’s risk management strategy and activities, building on the robust processes and procedures currently in place.’

According to her LinkedIn profile, Griffin has been with Mastercard for more than eight years and is also vice chair of the International Chamber of Commerce’s global commission on anti-corruption and corporate responsibility. Before joining Mastercard she spent six years as senior vice president and CCO at global payments company Visa. Prior to that she worked at Alcatel-Lucent, most recently as vice president of the office of business conduct.

Senior Mastercard compliance officer Howard Fields is succeeding Griffin as CCO. Mastercard has simultaneously appointed Jennifer Rademaker to the newly created position of chief future of work officer.

Michael Miebach, president and CEO of Mastercard, says in an announcement: ‘These new positions strengthen our company and reinforce our deep leadership bench around the world. I look forward to what Karen and Jennifer will bring to these incredibly important positions. Their unique skills and experiences will help the company navigate an ever-evolving industry and world.’