ING U.S. announced that Prakash Shimpi has been hired as chief risk officer for ING U.S. Shimpi joins ING from Towers Watson, where he was the global practice leader for enterprise risk management (ERM), as well as president and CEO of Towers Watson Capital Markets.
In his new role, Shimpi will oversee the enterprisewide risk monitoring and management program for ING's U.S. insurance operations. His responsibilities will include managing the framework for measuring, controlling, hedging and pricing risk, as well as compliance with all global financial reporting standards for the company.
Shimpi has more than 25 years of risk management experience in the financial services industry. In his most recent role with Towers Watson, Shimpi oversaw all aspects of the Towers Watson ERM consulting practice, as well as providing finance, risk management and investment management expertise to corporate clients.
"We are fortunate to have someone with Prakash's extensive background and expertise to lead our risk management program in the U.S.," said Rob Leary, CEO, ING U.S. "As a leader in retirement and life insurance, it is incumbent upon ING to appropriately manage the known and unknown risks that may face our customers, distribution partners, shareholders and employees. We believe Prakash is an exceptional addition to our management team and will continue to enhance our risk management practices to benefit key stakeholders."
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