WILMINGTON, Del., Nov. 13, 2019 (GLOBE NEWSWIRE) -- Stanford A. Stanford, Sr., a long-time bank regulatory and compliance expert, has joined WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), as Senior Vice President and Chief Compliance Officer. Reporting to WSFS Executive Vice President and Chief Risk Officer, Paul Greenplate, Mr. Stanford will lead the design and execution of the Bank’s Compliance Risk Management (CRM) program and related policies and will partner with executive and senior management to ensure the Bank is compliant with banking regulations.
In this role, he will lead the compliance function across all risk areas of the organization, including consumer regulatory compliance, BSA/AML, enterprise governance, risk management, and driving the strategic direction of the Bank’s Compliance team.
“By crossing the $10 billion threshold to more than $12 billion in assets following the successful integration of Beneficial Bank, WSFS understandably has a stronger regulatory framework to comply with,” said Mr. Greenplate. “Stanford brings to our Company deep compliance experience and leadership, and his expertise in the federal banking regulatory framework will be a valuable asset as we continue to grow, further develop, and enhance our compliance management systems.”
Mr. Stanford joins WSFS with over 30 years of experience building large-scale financial systems, leading teams through complex restructurings, and managing risk, compliance, and regulatory regimes. Most recently, Mr. Stanford served the public’s interest as an Assistant Regional Director at the Consumer Financial Protection Bureau (CFPB) in Washington, DC. Mr. Greenplate added that Mr. Stanford’s CFPB experience will be valuable in his management of an effective compliance program at WSFS, and to ensure the Bank continues to serve its local communities effectively. Mr. Stanford’s experience includes leadership roles at Freddie Mac, Capital One Bank, Royal Strategy Consulting, and Zions Bank.
A Commissioned United States Federal Bank Examiner and a Certified Risk and Compliance Management Professional (CRCMP), Mr. Stanford has a Bachelor of Science in Economics from Westminster College, where he also earned a Graduate Certificate in Finance, and a Master of Business Administration in Finance. He also holds a Master of Science in Computer and Management Information Systems from Webster University.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company headquartered in Delaware and the Delaware Valley. As of September 30, 2019, WSFS Financial Corporation had $12.3 billion in assets on its balance sheet and $20.2 billion in assets under management and administration. WSFS operates from 127 offices located in Pennsylvania (56), Delaware (49), New Jersey (20), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Beneficial Equipment Finance Corporation, Cash Connect®, Cypress Capital Management, LLC, NewLane Finance, Powdermill Financial Solutions, West Capital Management, WSFS Institutional Services, WSFS Mortgage, and WSFS Wealth Investments. Serving the greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cb0515ba-b04a-4cec-8632-81d46127bf0e.
Source: WSFS Financial Corporation