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Patelco Credit Union has hired Mani Massoomi to serve as its new chief risk officer, a new role that aims to help strengthen Patelco’s risk management capabilities and safeguard its members.
Officials with the Dublin-based credit union said in a statement that Massoomi comes with a wealth of experience, having most recently served as chief risk and compliance officer at the Federal Home Loan Bank of San Francisco, and prior to that, as the head of operational and enterprise risk at SoFi. At Patelco, he is tasked with building the department and establishing proactive management of risks
“Mani will play a pivotal role in helping us strengthen our risk management framework and safeguard the long-term success of our organization,” Patelco CEO and President Erin Mendez said.
“His expertise will be invaluable in ensuring that we proactively address emerging risks and seize new opportunities with confidence. We are thrilled to have Mani onboard to establish a new Risk function for Patelco,” Mendez added.
As Patelco’s CRO, Massoomi will serve as liaison to the Cyber Security Committee along with the Audit and Risk Committee. He will head the Credit Risk Committee and serve on the Asset-Liability Committee, the Commercial Lending Committee and the Ethics Committee.
“Patelco’s dedication to its mission and protecting its members is a foundation on which I can build strong risk management practices,” Massoomi said. “I am humbled and honored to join such a great organization and help embolden Patelco’s Risk Management framework.”
This move by Patelco comes months after a weeks-long outage spurred by a ransomware attack that took place on June 29, 2024, during which customers were unable to access a number of online banking and mobile app services.
