Hershey Named Chief Compliance Officer at DTCC

Post-trade infrastructure provider the Depository Trust & Clearing Corporation (DTCC) has announced the appointment of Lisa Hershey as managing director and chief compliance officer. She will have responsibility for leading the firm’s compliance function effective January 1, 2021 and will report to Ann Shuman, DTCC’s managing director and general counsel.

Hershey joined DTCC in 2009, and over the last decade, has developed a broad understanding of nearly every aspect of DTCC’s business and its approach to effective risk management and compliance, the firm says. In her current role, Hershey serves as managing director and head of operational risk management where she has been a driving force in expanding and strengthening the firm’s capabilities to identify, assess, manage, report and remediate operational risks, working in partnership with the firm’s business and functional leaders. DTCC adds she has also overseen initiatives that have delivered significant enhancements to its third party risk management and new initiatives functions, has played a key role on the investment and operating committee and has been co-leading the firm’s governance, risk and compliance council.

“As a critical market infrastructure for the global financial markets, DTCC must comply with multiple laws, regulations and governmental guidelines while promoting the highest ethical standards for our company and our employees,” says Shuman. “Lisa’s expertise and experience will be critical as she oversees a team of professionals as they navigate an ever-growing list of rules and requirements across multiple jurisdictions. We look forward to her continued leadership and contributions to this key DTCC function.”

Hershey will replace Susan DeSantis, the firm’s current CCO, who plans to retire in early 2021 after capping a 25-year career at the organisation. “Susan brought a deep knowledge of the industry, extensive regulatory contacts and strong professionalism to her leadership roles in compliance,” says Shuman. “We thank Susan for her tireless contributions to DTCC over the years and wish her the very best in her retirement.”

Colin Lambert

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