CIT appointed Paul Tufaro as executive vice president, chief compliance officer.
Tufaro joins CIT after six years at Citigroup, where he most recently served as the global head of the corporate compliance group within the compliance department. Prior to Citigroup, he served in various roles in both legal and compliance at Bank of America Merrill Lynch, the Royal Bank of Scotland and Evercore Partners.
Tufaro will report to Executive Vice President and Chief Risk Officer Robert Rowe.
“Paul’s vast experience leading enterprise compliance risk management practices in the banking sector makes him a valued addition to CIT and our senior management team,” Rowe said. “He brings to our organization two decades of experience in compliance and legal roles in prominent financial institutions and private legal practice, which will be critical as CIT continues to execute on our strategic initiatives.”
In addition to managing CIT’s Compliance department, Tufaro’s primary responsibilities will include executing on enterprise-wide compliance programs focused on consumer protection, fair lending and anti-financial crimes. Tufaro will also work to ensure CIT fosters a culture of compliance and responsible finance across the organization.
“The business opportunities for the organization are significant, and CIT recognizes the importance of putting customers first and operating in a manner consistent with applicable laws, regulations, and ethical standards,” Tufaro said. “I’m excited to be a part of the organization.”