Colleen Lynch Appointed as Chief Compliance Officer at Needham Bank
Colleen Lynch Joins Needham Bank as Senior Vice President
Needham Bank is thrilled to announce that Colleen Lynch has taken on the crucial role of Senior Vice President and Chief Compliance Officer. Colleen will work directly under Peter Bakkala, the Executive Vice President and Chief Risk Officer, and her primary responsibility will involve overseeing and enhancing the compliance management programs for the entire bank.
Colleen Lynch's Experience and Background
With a wealth of experience in the realms of legal advisory, compliance, and regulatory affairs, Ms. Lynch has developed a strong reputation for building effective compliance programs on a global scale. Most recently, she held the position of Vice President of Global Compliance at BlueSnap, Inc., where she successfully managed the company's compliance and risk functions across global payments. Furthermore, her role also encompassed handling relationships with acquiring banks and payment networks, ensuring a holistic approach to compliance management.
Before her tenure at BlueSnap, Ms. Lynch served as Risk Manager for Mergers and Acquisitions and was a Manager in the Consumer Compliance Department at the Federal Reserve Bank of Boston. Her diverse background has equipped her with a thorough understanding of the multi-faceted challenges facing modern compliance officers.
Excitement at Needham Bank
The leadership at Needham Bank expressed enthusiasm about Colleen joining their ranks. "We are thrilled to welcome Colleen to the Needham Bank team," stated Mr. Bakkala. "Her extensive experience and leadership in compliance and risk management will be invaluable as we continue to strengthen our compliance programs in support of the Bank's strategic plans."
A Commitment to Collaboration
In her own words, Ms. Lynch expressed, "I am proud to bring my experience to Needham Bank and to collaborate with such a talented group of professionals. I look forward to supporting the continuous improvement of the Bank's compliance initiatives." Her commitment to collaboration reflects a modern approach in managing compliance within a progressive banking environment.
Educational Background
Ms. Lynch’s academic qualifications are equally impressive. She is a graduate of Boston College Law School and is an active member of the Massachusetts State Bar. Additionally, she earned her Bachelor of Arts from Stonehill College. Her professional development includes participation in the MIT Sloan School of Management's Greater Boston Executive Program, as well as the Thrive System Leadership Initiative at the Federal Reserve Bank of Boston. This broad range of experiences underpins her qualifications for leading compliance efforts.
About Needham Bank
Needham Bank is dedicated to offering innovative, technology-driven products and services that cater to both businesses and consumers. They pride themselves on having the financial expertise typically found in larger institutions while maintaining the deep local knowledge and commitment characteristic of a community bank. Nicknamed the "Builder's Bank," Needham Bank has been integral in helping individuals, businesses, and non-profits shape their futures since its inception in 1892. They strive to support the financial needs of their clients in every way possible.
Frequently Asked Questions
What is Colleen Lynch's role at Needham Bank?
Colleen Lynch serves as the Senior Vice President and Chief Compliance Officer at Needham Bank, overseeing the compliance management programs.
What previous experience does Colleen Lynch have?
Colleen has extensive experience in compliance and legal advisory roles, including her recent position at BlueSnap, Inc.
Why is Colleen Lynch's appointment significant?
Her leadership and vast knowledge in compliance and risk management are vital for enhancing Needham Bank's compliance strategies.
What does Needham Bank offer?
Needham Bank provides a range of tech-forward financial products and services tailored for businesses and consumers.
What is the mission of Needham Bank?
Needham Bank aims to support the financial needs of its clients while showcasing commitment to community banking.
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