Cornerstone hires former Commerce Bank director as new chief risk officer
Photo | Courtesy Cornerstone Bank
Michael Roy
Cornerstone Bank has appointed Michael Roy to the new position of chief risk officer and a senior vice president position within the $1.3-billion bank.
Roy previously served as a regulatory compliance manager for the Austin, Texas-based Sheshunoff Consulting, according to the Tuesday press release from Cornerstone. Prior to that, he served as the director of corporate compliance and security at the former Worcester-based Commerce Bank, which was acquired by Berkshire Bank of Boston in 2017. He overall has 25 years of experience working in the banking sector.
“We are very excited to welcome Michael to the team as our new chief risk officer,” said Cornerstone Bank CEO Todd Tallman in a press release statement. “Throughout his impressive career, he has shown a great aptitude for creating and implementing risk management plans, and we’re confident his success will continue as a leader in our organization.”
The position is a new created one at the Worcester-based bank. Roy will be responsible for overseeing the company’s governance and strategy for risk management and compliance, and protecting the investments of stakeholders.
Roy has a bachelor’s degree in finance from Bryant University in Rhode Island and an MBA from Anna Maria College in Paxton.
As of 2021, Cornerstone Bank had 162 employees across 13 branches, with more than $1.3 billion in assets, according to the WBJ Book of lists.
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