Westpac today announced a restructure of its management team. The roles of Chief Risk Officer (CRO) and Group Executive, Financial Crime, Compliance and Conduct will be combined.

Chief Risk Officer, David Stephen has decided to leave the Group after more than three years of service. David led the Risk function through significant change and has helped the Group navigate a challenging external environment while also improving the Group’s risk capability and culture.

Les Vance, Group Executive, Financial Crime, Compliance and Conduct will also be leaving the Group later in the year. He will continue to support the Customer Outcomes and Risk Excellence (CORE) program for a period, reporting to Peter King.

Ryan Zanin has been appointed Westpac Group Chief Risk Officer, joining the Group from the Federal National Mortgage Association (Fannie Mae) in New York, where he is Executive Vice President and Chief Risk Officer.

Mr Zanin has more than 40 years’ experience in large, complex, global financial services businesses including consumer, commercial, investment banking, and markets.

Currently Executive Vice President and Chief Risk Officer for the Federal National Mortgage Association in New York, Mr Zanin has held Chief Risk Officer roles at GE Capital, Wells Fargo & Company, Wachovia Corporation and Deutsche Bank. Mr Zanin has also been on the Boards of Fannie Mae and General Electric Capital Corporation.

A Canadian, Mr Zanin began his career at the Bank of Montreal in Credit Services before taking on various roles across Citibank Canada and Bankers Trust Company.