Press Release

The Bancorp Assembles New Operating and Regulatory Team to Guide Bank of the Future

Company Release - 7/26/2017 4:25 PM ET

Seven senior-level professionals will contribute a unique blend of experience in supporting the reengineering and transformation of the Bank’s platform to meet regulatory requirements and position the Bank for profitable growth.

WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp, Inc. (NASDAQ: TBBK) continues on a strategic course to strengthen its operations and risk management functions with the creation of a senior-level team charged with developing a more productive and efficient operating environment.

Under the leadership of Executive Vice President and Chief Operating Officer Hugh McFadden, the new team includes: John Munera, Managing Director, Head of Financial Crimes Risk Management (FCRM); Matt Wallace, Managing Director, Chief Information Officer; Matt Dermott, Director, Head of Third-Party Risk Management; Bill Neurohr, Managing Director, Head of Compliance; Anwar Tameez, Managing Director, Head of Operations; and Greg Garry, Managing Director, Chief Risk Officer. Also part of the team is Armondo Burnette, Managing Director, Chief Audit Executive, who reports to the Board of Directors and administratively to CEO and President Damian Kozlowski.

“As new core team members, these individuals bring game-changing experience to us in the operations and risk management arenas,” said Kozlowski. “Their demonstrated, senior-level track records in large, complex institutions give us a greater capacity to reengineer our platform. We have now attained critical mass in our management talent, and are poised for the next phase of transformation that will enhance our platform for clients and spur us toward innovative growth."

John Munera, Managing Director, Head of Financial Crimes Risk Management at The Bancorp Bank, provides strategic leadership to compliance and risk management processes related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) requirements. He also serves as a resource to the BSA Committee and the Risk Committee of the Board of Directors. Munera comes with significant BSA/AML risk management experience at regional and global financial institutions. Most recently, he was a senior risk official at the Federal Reserve Bank of Philadelphia. He is a Certified Information Systems Auditor (CISA) and a Certified Anti-Money Laundering Specialist (CAMS).

Matt Wallace, Managing Director, Chief Information Officer, oversees Information Technology strategies and capabilities across the enterprise. His responsibilities include planning, policies, standards, architecture, coordination and analysis of all information systems and infrastructure. Wallace joins The Bancorp from Bank of America, where he was most recently Senior Vice President leading Enterprise Card Issuance. Prior to that, he was responsible for the Risk and Control process, as well as a multi-year, strategic-planning initiative for several core operational areas across Bank of America.

Matt Dermott, Director, Head of Third-Party Risk Management, oversees The Bancorp’s programs for managing risks associated with third-party relationships. He and his team are responsible for implementing third-party internal controls focused on due diligence, risk assessments and performance monitoring. Dermott most recently led Third-Party Oversight at JPMorgan Chase, supporting Centralized Transaction Operations, Mortgage Banking, Consumer Banking, Card Services, Chase Wealth Management and Business Banking. Previously, he held senior roles at Chase in Mortgage Banking, Finance, and Sourcing and Procurement Services.

Bill Neurohr and Anwar Tameez joined The Bancorp in the first quarter of 2017 and are now designated among the key players of the new operating and regulatory team.

Neurohr, Managing Director, Head of Compliance, manages the bank’s compliance risk management program. He oversees regulatory change management, policy and procedure review, risk assessments, monitoring, testing and other related functions focused on consumer protection. Previously, Neurohr served as Compliance Director for Citi's Global Consumer Bank Card organization. Prior to that, he was the Compliance Managing Director and Head of Governance and Practices for JPMorgan Chase's Global Card and Merchant Services organizations, responsible for adherence to the firm's Global Compliance Program.

Tameez, Managing Director, Head of Operations, oversees Retail Operations, Loan Operations, and Customer Care and Complaints. With 25 years of experience in global senior leadership roles, he has managed large technology organizations, business operations, compliance, and trading floors. He most recently served as Head of Operations of the US Shared Services organization for AIG, a New York-based multinational insurance company. Previously, Tameez was Head of Operations for Morgan Stanley Cash Management, based in Europe. Prior to that, he managed Business Operations and Controls for Citigroup Global Wealth Management and had global responsibilities within the Citi Technology Infrastructure.

Greg Garry is newly named as Managing Director, Chief Risk Officer, moving from his previous role as Chief Audit Executive for The Bancorp. He now heads the Enterprise Risk Management (ERM), Third-Party Risk Management (TPRM) and Cybersecurity functions. Garry works in collaboration with other Managing Directors and related committees of the Board of Directors and Management to formulate and implement various risk management control policies. His leadership and performance in the audit function has prepared him well to assume a role focused on enterprisewide risk management. Garry is a Certified Internal Auditor (CIA), Certified Fiduciary and Investment Risk Specialist (CFIRS) and holds a Certification in Risk Management Assurance (CRMA).

Armondo Burnette joins the company as Managing Director, Chief Audit Executive. He will work with the Audit Committee and Executive Management to assess, direct and maintain The Bancorp’s audit management plan and oversee internal audits, risk assessments and audit finding remediation. Burnette’s career spans more than 25 years in the areas of internal audit management, financial operations, information technology, business process improvement, and organizational analysis and design. Most recently, he was Director, National Business Advisory Services, for Grant Thornton LLP, and earlier he was Senior Vice President, Chief Audit Executive at First Bank of Delaware. His professional designations include Certified Public Accountant (CPA), Certified Information Systems Auditor (CISA), Certified Financial Services Auditor (CFSA) and Six Sigma Black Belt.

“Each of these individuals brings comprehensive experience in areas critical to The Bancorp’s success,” said Hugh McFadden, Executive Vice President and Chief Operating Officer. “They share our vision for this company as we chart an exciting growth path, and have already begun to put their stamp on our future.”

About The Bancorp

The Bancorp is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to those on the Fortune 500. The company’s wholly-owned subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank and a top ACH originator. Specialized lending distinctions include National Preferred SBA Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial leasing groups in the nation.

For more information, please visit www.thebancorp.com.

The Bancorp Contact
Andres Viroslav, 215-861-7990
aviroslav@thebancorp.com

Source: The Bancorp, Inc.