Terry Hoover has joined the Thread team as its Chief Risk Officer, are happy to announce Thread Bancorp, Inc. and Thread Bank (collectively, “Thread”). In this capacity, Hoover is in charge of furthering the best-in-class status of Thread’s Enterprise Risk Management programme by assuring excellent risk management procedures and Thread’s ongoing regulatory compliance.
Hoover joins Thread with more than thirty years of experience in risk management. Hoover most recently oversaw the development of ERM programmes, FinTech monitoring, the installation of ERM and GRC software, and risk and control evaluations for financial institutions at Strategic Risk Associates, LLC in Dallas, where he worked before joining.
Prior to joining Strategic Risk Associates, Hoover worked for community banks for twenty years in top risk management positions. He also spent five years working as a bank examiner for the FDIC and OCC. Hoover holds degrees in accounting and information management from The University of Texas at Dallas and a bachelor’s degree in business administration in finance from Stephen F. Austin State University.
As Thread’s new CRO, Hoover expressed his excitement at the opportunity to guide the bank through the constantly shifting field of risk management. “I look forward to working with the team to ensure that Thread continues to offer its customers secure and dependable banking services while also maintaining solid risk management processes that are highly scalable throughout its embedded banking platform partners,” said the VP of Thread.
According to Thread CEO and President Chris Black, “Terry will help us enhance our risk management expertise, maintaining our commitment to providing safe and secure banking services, and creating a strategic advantage for Thread as a leader in effective and scalable risk management.” Terry has extensive experience and a demonstrated track record, and these factors give Thread confidence that he will do so. We are eager to collaborate with Terry and take use of his knowledge to advance Thread’s standing as a pioneer in embedded banking.
A fully owned subsidiary of Thread Bancorp, Inc., Thread Bank is an FDIC-insured bank that offers local community banking in Eastern Tennessee as well as embedded and digital banking services across the country. Go to thread.bank for additional details.