Colleen Lynch Joins Needham Bank as the New Senior VP of Compliance
Colleen Lynch Joins Needham Bank as Senior Vice President, Chief Compliance Officer
Needham Bank has announced an important addition to its leadership team with Colleen Lynch taking on the role of Senior Vice President and Chief Compliance Officer in the Risk & Compliance Department. This strategic move is expected to enhance the bank's compliance initiatives significantly as it continues to expand its services.
Professional Background
Colleen Lynch comes to Needham Bank with a wealth of experience, particularly in the fields of legal advisory, compliance, and regulatory affairs. Her previous role was as Vice President of Global Compliance at BlueSnap, Inc. In this position, she successfully managed the company’s global payments operations, ensuring that both legal and compliance standards were met while navigating complex regulatory landscapes. She also played a critical role in maintaining strong relationships with acquiring banks and payment networks, showcasing her ability to align compliance strategies with business objectives.
Prior to her tenure at BlueSnap, Lynch served as the Risk Manager for Mergers and Acquisitions and was also a manager in the Consumer Compliance Department at the Federal Reserve Bank of Boston. Her diverse experience in risk analysis and regulatory compliance positions her as a valuable asset to Needham Bank as it seeks to strengthen its compliance framework.
A Commitment to Compliance
In her new role, Lynch will report directly to Peter Bakkala, who is the Executive Vice President and Chief Risk Officer at the bank. Her primary responsibilities will include overseeing the bank's Compliance Management Programs on an enterprise-wide basis. Bakkala expressed excitement about Lynch’s arrival, stating that her extensive knowledge and leadership skills in compliance will be instrumental as the bank reinforces its compliance programs.
“I am proud to bring my experience to Needham Bank and collaborate with such a talented group of professionals,” Lynch stated. “I look forward to supporting the continuous improvement of the Bank’s compliance initiatives.” Lynch’s vision aligns well with the bank's strategic plans, as she aims to create an environment where compliance is integrated into the organization’s daily operations and culture.
Educational Credentials
Lynch holds a Juris Doctor degree from Boston College Law School and is a member of the Massachusetts State Bar. Additionally, she earned her Bachelor of Arts from Stonehill College. Her commitment to continuous learning is reflected in her participation in the MIT Sloan School of Management's Greater Boston Executive Program, as well as the Federal Reserve Bank of Boston's Thrive System Leadership Initiative.
About Needham Bank
Established in 1892, Needham Bank has been dedicated to providing innovative and tech-forward financial solutions to individuals, businesses, and non-profits. Known as the