FIS, the credit and debit card processor for more than 5,000 credit unions, has announced the hiring of a chief risk officer.
Greg Montana is a former Bank of America executive who will lead the strategic development and execution of its enterprise-wide risk program, the Jacksonville, Fla.-based processor said.
The lack of a chief information security officer had been one of the factors federal regulators had cited as hampering the processor's risk management efforts in a supervisory letter the NCUA forwarded to credit unions that process with the company. The agency also recommended that credit unions evaluate their relationship with the processor.
Montana will report to FIS Chairman/CEO Frank Martire, the company said.
The company already has a chief information security officer in Greg Schaffer, a former executive with the U.S. Department of Homeland Security.
“Risk management is an important function for everyone in the financial services sector,” said Martire. “We continually devote resources to provide the best possible service to our clients. Adding the extensive experience that Greg Montana has will ensure that FIS stays on the forefront of managing risk for our company and our clients.”