TIAA creates top risk and compliance role
TIAA has hired David Nason as executive vice president and chief risk and compliance officer – a newly created post at the firm – effective September 16. He reports to John Douglas, senior executive vice president and chief oversight and advocacy officer.
In his new role, Nason heads up the company’s combined risk-management and compliance functions, which TIAA says is intended to help meet its evolving risk and compliance needs.
Nason was previously president and CEO of GE Energy Financial Services, GE’s global energy investing unit. Before that, he was chief regulatory and compliance officer at GE Capital, a role in which he worked on risk management, capital planning, regulatory and legal affairs and policy advocacy.
Earlier in his career, he served as assistant secretary for financial institutions for the US Department of the Treasury where he was lead adviser on banking, securities and housing-finance regulatory matters and played key roles in the government’s response to the financial crisis.
He previously worked at the SEC and Covington & Burling.
‘David’s extensive leadership experience in financial services organizations will serve TIAA well in today’s rapidly changing and complex regulatory landscape,’ Douglas says in a statement. ‘As our businesses become more integrated, it is important that our oversight and control functions are closely aligned. This alignment will assist our businesses and lead to better outcomes for our customers.’