Global operational risk association announces changes to its Board of Directors

ORX, the world’s largest operational risk association with a membership of over 100 financial organisations from around the world, has today announced changes to its Board of Directors.

Made up of ten ORX member representatives and one external director, the ORX Board of Directors sets the strategic direction of the association, as well as the overall operational risk industry standards. 

Existing Board member, Lisa Broomer, becomes the first female Chair of the ORX Board in its 18-year history. Lisa is a Managing Director at JPMorgan Chase & Co and is responsible for leading the firm’s efforts globally to quantify operational risk. She replaces HSBC’s Group General Manager, Mark Cooke, who stepped down as Chair after three years in the role. 

Lisa has been with JPMorgan Chase, one of the largest banking institutions in the United States and with operations worldwide, for over 30 years. Her experience is cross-discipline and cross-business, with roles in risk, finance, sales, operations, technology and internal audit spanning the corporate sector, investment banking and commercial banking business lines. Lisa earned an MBA in Finance from New York University and a BS in Finance from SUNY Albany.

Following her appointment to Chair, Lisa said:

“I am delighted to have been selected for this important position chairing the ORX Board. ORX is highly valued within the operational risk community, and I am proud to play my part in driving the development of this well-needed service for the financial services industry."

Giulio Mignola from Intesa Sanpaolo continues in his role as Vice Chair (Services). Giulio heads up the Enterprise Risk Management Department at Intesa Sanpaolo, one of the main banking groups in Europe. He governs Pillar 2 risks, Capital Adequacy, Integrated Risk Reporting, Stress Testing, Operational Risk and Risk Data Aggregation and Reporting framework. He is a member of the Working Group on Operational Risk of the Institute for International Finance.

ORX is also welcoming three new members to the Board of Directors:

• Letitia Smith is Group Director Conduct, Compliance & Operational Risk at Lloyds Banking Group, one of the largest Financial Services Groups in the UK. Letitia has over 25 years’ experience of Operational Risk Management in the UK and International Financial Services sector. She provides strategic leadership to the Lloyds Banking Group Board and senior management on Compliance, Conduct and Operational Risk matters. She is also responsible for the design and enforcement of the risk management framework across the firm.
• Sarah Turnbull is Head of Enterprise Operational Risk and Compliance at ANZ. Sarah has more than 20 years of international experience in Institutional Banking business roles and various roles in credit/counterparty and operational risk. She worked in ANZ’s Institutional business in both New Zealand and Hong Kong before taking the role as Risk Chief of Staff for ANZ based in Melbourne.  Before joining ANZ she worked for six years with large financial services firms in London, in both business and risk roles.
• Jedediah Turner heads up the Risk Governance, Reporting & Operations team at TIAA. He has significant financial industry experience across Capital Markets, Banking, Wealth and Asset Management, across both the 1^st and 2^nd lines of defence, helping enable risk-adjusted business decisions.

As well as Mark Cooke stepping down as Chair, ORX also says a sad farewell to Hamish Lock and Howard Stein who are leaving their posts as Board members.

Commenting on these changes to the ORX Board of Directors, ORX Executive Director, Simon Wills said:

“We look to our Board for strategic direction so that we ensure everything we do is geared towards providing the highest quality support to our members and the wider operational risk community. I am very confident that the Board we have in 2020 will see us through the challenges created by coronavirus and beyond.

I would like to offer a warm welcome to the new members of the Board, and a big thank you to those who are leaving us. Whether joining or leaving, our Board members are all incredibly important to the future success of ORX as we continue to grow and expand our offering.”

See who else is on the ORX Board

For further information and interview requests, contact:

Amy Lauder, Senior Marketing & Communications Manager
Email: [email protected]

Notes to editors:

ORX is the world’s leading operational risk association for the financial sector. We bring together a global community of experts to enhance operational risk management in financial services. By sharing ideas, information and experience, we help the industry improve their understanding of operational risk. We’ve developed a range of solutions focused on managing and measuring operational risk, and helping organisations become less vulnerable to losses. Alongside this, we run an extensive risk management and measurement research programme and hold events around the world. ORX is a not-for-profit industry association, incorporated in Geneva, Switzerland, owned and managed by our members. We currently have 102 members institutions from more than 20 countries.

Company no. 06848757. Company registration number: CHE-109-982-492

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