Investors Bank said it appointed Rajiv Varshney to the position of chief compliance officer effective immediately.
In his new role, Varshney will support deploying the Short Hills-based bank’s databases, workflow tools and management information systems (MIS) to enhance the risk management function and produce efficiencies with his primary responsibility being maintaining a sustainable as well as scalable compliance program that aligns with the bank’s strategic growth plans.
Varshney will report to Investors Bank’s Chief Risk Officer Paul Kalamaras.
“We know that Rajiv has the skill set to manage, shape and scale our risk compliance function as we look to grow the organization,” Investors Bank CEO Kevin Cummings said. “Rajiv also brings a wealth of experience interacting with banking regulators on issues ranging from compliance to corporate governance and reporting. A volunteer who devotes his time to serving communities, he is deeply committed to environmental conservation projects.”
Prior to joining Investors Bank, Varshney was regulatory compliance chief operating officer at HSBC USA from 2013 to 2019. He managed the bank’s regulatory compliance function and successfully completed extensive changes to the procedures that increased the effectiveness of the risk management program.
He joined HSBC in 2003 as an executive in the credit card business. He instituted a Six Sigma program, which is a business process that helps improve profits, an organization’s culture and the quality of its products and services. He also helped establish global offshore centers that serve and support the bank’s operations in North America.