U.S. Bank recently announced it will promote Jodi Richard to vice chairman and chief risk officer, following current Vice Chairman Bill Parker’s plans to retire in the upcoming months.

Richard will join the company's managing committee and report directly to President and CEO Andy Cecere.

Richard is expected to transition into the new position by early October.

“Jodi is a strong, capable leader who has helped us transform our operational risk approach, and she will lead the risk management and compliance team well,” Cecere said. “She understands our culture and the importance we place on effective risk management. We are pleased with the quality of talent we continue to attract, retain and develop into leadership roles.”

As the current chief operational officer, Richard oversees operational risk management and independent testing functions, including tasks such as risk, fraud and third-party management, data protection and governance, crisis management and more.

In her new position as vice chairman, Richard is expected to continue developing and maintaining strong risk management capabilities.  

Prior to joining U.S. Bank, Richard spent more than a decade at HSBC where she oversaw risk management and regulatory compliance efforts.

Notably, she was also the national bank examiner in the Office of The Comptroller of the Currency for 12 years and worked as the chief compliance officer at a large credit card bank.