Wells Fargo recently named Amanda “Mandy” Norton as its chief risk officer, who will take over for Mike Loughlin. Loughlin announced his plans to retire in 2018, but will remain in the role until Norton starts work with the company to ensure a smooth transition, according to a company press release.
Norton, who has 29 years of experience in the financial services industry, most recently served as chief risk officer of consumer and community banking at JPMorgan Chase.
“Mandy’s deep experience and proven commitment to the risk discipline make her an ideal choice for Wells Fargo,” Wells Fargo President and CEO Timothy Sloan said in the release. “She has significant credit and operational experience, has spent time overseeing both wholesale and institutional risk, and has extensive consumer experience. Her track record leading complex risk management environments at large financial institutions will serve all our stakeholders well.”
As Wells Fargo’s chief risk officer, Norton will oversee all aspects of the company’s independent corporate risk function and risk oversight activities, including credit risk, market risk, operational risk, compliance, information security risk and conduct risk. She will report directly to Sloan and to the risk committee of the company’s board of directors. She also will serve as a member of the Wells Fargo’s operating committee and as an executive officer. Norton will be instrumental in driving the company’s efforts to become a leader in risk management, which is one of the organization’s six goals moving forward.
Norton spent the first six years at Chase Manhattan Bank and joined JPMorgan Chase in 2011 as the chief risk officer for home lending. She took on her most recent role in 2013, providing risk oversight for home lending, card services, auto finance, business banking, consumer banking and payments. Previously, she worked for Ally Financial serving as a market and credit risk executive and spent 14 years at Bank of America in various roles. Norton is a board director of the Risk Management Association and volunteers with The Financial Clinic and with the University of Bath Alumni Foundation.