Former TARP Compliance Head Ben Purser Joins Vericrest as Chief Risk Officer

Vericrest Financial Inc. has announced that it has appointed Ben Purser as Chief Risk Officer. Purser brings 26 years of experience in financial services to Vericrest, with a focus on risk management, audit, compliance and governance. In his new role, he will be responsible for all risk management efforts, including determination of risk tolerances, and will focus on operational risk practices, compliance with all state and federal agency requirements, as well as measuring and monitoring risk in Vericrest’s portfolios. Vericrest established this integral role to reinforce its commitment to strategically grow the business in a sound manner that enables the business to position itself for long-term success while being complaint. Purser has held several senior leadership roles in financial services governance functions. Most recently, he served as the chief compliance officer in the Office of Financial Stability at the United States Department of the Treasury, where he oversaw all compliance-related matters for the Troubled Asset Relief Program (TARP). During his tenure, Purser developed and implemented control assessment activities related to program compliance, addressed remediation of program compliance issues, and oversaw the Making Home Affordable compliance program used by Freddie Mac as Compliance Agent for Treasury. In addition, he has served in senior leadership roles at FBR Capital Markets Corporation and Riggs Bank, and worked in the Securities, Capital Markets, and Trust Branch at the Federal Deposit Insurance Corporation (FDIC).