MassMutual appoints new CRO
Massachusetts Mutual Life Insurance (MassMutual) has appointed Geoffrey Craddock as its new chief risk officer (CRO).
As CRO, Craddock reports directly to MassMutual chair, president and CEO Roger Crandall. He was previously with the firm’s asset management affiliate OppenheimerFunds. Craddock fills the post held by Elizabeth Ward before she was named MassMutual’s CFO. Brad Hoffman had assumed the role on an interim basis.
‘This is an executive leadership role that continues to grow in importance, given our unwavering commitment to protecting the company and policy owners by identifying and managing the increasing risks all major companies face in today’s rapidly evolving world,’ Crandall says in a statement.
Craddock is responsible for identifying and managing global operational and reputational risks across MassMutual and its subsidiaries, while establishing appropriate strategic priorities for the firm’s enterprise risk management (ERM) function. Hoffman continues to be a part of MassMutual’s ERM team, reporting to Craddock.
Craddock joined OppenheimerFunds in 2008 as director of risk management and became its CRO in 2010. Before moving to OppenheimerFunds, he was global head of market risk management for Canadian Imperial Bank of Commerce, overseeing global market risk management for the bank’s investment banking, trading and retail activities.