Shore Financial Services Inc., parent company of United Wholesale Mortgage, has announced the appointment of regulatory compliance expert Susan Pelto to the position of chief compliance officer. The company has also named Chief Operating Officer Kathy Welty has also been promoted to the new position of chief risk officer, where she will oversee the company's compliance, quality control (QC) and internal audit functions. The company is also establishing a Risk Committee that includes Welty, Pelto and representatives of these three functions, as well as Chief Executive Officer Kip Kirkpatrick and Chief Financial Officer Michael Jones. "In an increasingly regulated world, effective risk management is a key differentiator for mortgage lenders, and a key part of this is a strong compliance offer," Kirkpatrick said. "Shore Financial's appointment of respected compliance expert Susan Pelto as chief compliance officer, and proven senior executive Kathy Welty as chief risk officer, shows our determination to build the best risk management team in the industry." The strengthening of the company's risk management team also offers new opportunities for the company's wholesale lending division, United Wholesale Mortgage (UWM). Already a top 10 Federal Housing Administration (FHA) lender, UWM has established strong risk management and compliance practices. The addition of Pelto provides additional support for UWM's commitment to be one of the best-in-class lenders in the industry, from both compliance and production perspectives. The appointments of Welty and Pelto also build on the company's recent series of major hires. Kirkpatrick, a successful investor in highly regulated industries, is focused on enhancing Shore Financial Services Inc.'s resources and national presence. Since Kirkpatrick was named chief executive officer in April, the company has also hired expert financial analyst Jones as its chief financial officer and nationally-recognized mortgage banker David Hall as president of Shore Mortgage, the company's retail mortgage division. "At a time of rapid industry change, it's exciting to see Shore Financial's commitment to quality underwriting, effective compliance and strong risk management in general," Pelto said. "I look forward to being a part of this dynamic, industry-leading company as it continues to build its national profile." For the past nine years, Pelto has served as regulatory compliance officer for Quicken Loans in Detroit, overseeing compliance for retail mortgage lending in all 50 states. Prior to that she was vice president at Michigan National Bank, where she managed the compliance and retail lending function for all branches. Pelto's career includes more than 28 years of experience in retail lending.