New CRO for African Development Bank
The African Development Bank (AfDB) has appointed Ifedayo Orimoloye as its group chief risk officer (CRO), effective 1 April 2021.
Mr Orimoloye, a US national, brings more than 20 years of risk management and corporate finance experience from international and diverse financial institutions in Africa, Europe and North America.
As the bank’s group CRO, he will lead the preparation and implementation of strategic plans within the AfDB’s overall risk management framework, including the bank’s risk appetite statement, credit risk, operational risk and market risk guidelines, policies and procedures.
Having started his banking career with Wachovia Bank in 1995 in corporate finance, Mr Orimoloye later moved to senior risk management roles at Citibank, HSBC and Wells Fargo.
Between 2010 and 2017, he was the group CRO at Ecobank Transnational Incorporated, the continent’s largest pan-African banking group, where he provided oversight of risk-taking activities in the 40 African countries and other regions where Ecobank has a presence.
He also provided the board of directors with independent assessments of all sovereign, sub-sovereign and non-sovereign default risks, including the establishment of sectoral, country and cross-border limits on risk assets worth $24bn.
He joined Sterling Bank in 2018 as CRO, a role he positively transformed by implementing a strong framework that ensured rigour in the application of group-wide risk management policies and practices. He also embedded independent oversight and guidance for managing risk and ensuring compliance, including the development and implementation of risk and capital management measures across the organisation.
