Green Dot Appoints Kim Olson as Chief Risk Offer

Rhea-AI Summary

Green Dot (NYSE: GDOT) has appointed Kim Olson as Chief Risk Officer, reporting directly to CEO George Gresham. Olson will oversee the company's risk management strategy and program execution.

Olson joins from Discover Financial Services where she served as Head of the Office of Remediation since November 2023, managing enterprise remediation of regulatory matters. With over 30 years of financial services experience, she has held positions as chief risk officer and senior risk oversight roles at global banking organizations.

Her career began at the Federal Reserve Bank of New York, where she held senior positions in banking supervision, policy, and regulation. The appointment aims to strengthen Green Dot's risk management foundation to support long-term growth and success.

Positive

• Strategic appointment of experienced risk management executive
• New CRO brings 30+ years of financial services expertise
• Previous experience includes Federal Reserve Bank and major financial institutions

Negative

• Appointment suggests need to address regulatory and compliance challenges
• Short tenure (since Nov 2023) at previous position at Discover Financial

PROVO, Utah--(BUSINESS WIRE)-- Green Dot Corporation (NYSE: GDOT) today announced that Kim Olson has joined the company as Chief Risk Officer responsible for overseeing all aspects of Green Dot’s risk management strategy and program execution and reporting directly to the Chief Executive Officer.

“Kim is a proven leader with skills and experience that will bolster our commitment to and focus on compliance and risk management,” said George Gresham, Chief Executive Officer, Green Dot. “We have been making great strides across all areas of our risk management teams and processes, and we look forward to Kim helping us further establish a strong risk management foundation that sets Green Dot up for long-term growth and success.”

Olson joins Green Dot from Discover Financial Services where she was the Head of the Office of Remediation, responsible for overseeing and challenging the enterprise’s remediation of significant regulatory matters, including consent orders, since November 2023. She has over 30 years of deep and multi-faceted financial services experience, previously serving as chief risk officer and in senior risk oversight roles at leading global banking organizations, as well as rating agency and professional services experience advising financial institutions on risk management, evolving regulations and strategy. Olson began her career at the Federal Reserve Bank of New York, where she held a variety of senior policy, regulatory and examination roles in banking supervision.

“I am honored to join Green Dot and look forward to leading the Risk function to strengthen risk and compliance management practices that enable sound and sustained business growth,” said Olson. “I am excited to help further Green Dot’s mission to provide seamless banking and payments solutions that serve the financial needs of businesses and consumers.”

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology platform and registered bank holding company that builds banking and payment solutions to create value, retain and reward customers, and accelerate growth for businesses of all sizes. ​For more than two decades, Green Dot has delivered financial tools and services that address the most pressing financial needs of consumers and businesses, and that transform the way people and businesses manage and move money.

Green Dot delivers a broad spectrum of financial products to consumers and businesses through its portfolio of brands, including: GO2bank, a leading digital and mobile bank account offering simple, secure and useful banking for Americans living paycheck to paycheck; the Green Dot Network (“GDN”) of more than 90,000 retail distribution and cash access locations nationwide; Arc by Green Dot, the single-source embedded finance platform combining all of Green Dot’s secure banking and money processing capabilities to power businesses at all stages of growth; rapid! wage and disbursements solutions, providing pay card and earned wage access services to more than 6,000 businesses and their employees; and Santa Barbara TPG (“SBTPG”), the company’s tax division, which processes more than 14 million tax refunds annually.

Founded in 1999, Green Dot has managed more than 80 million accounts to date both directly and through its partners. Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC². For more information about Green Dot’s products and services, please visit www.greendot.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250303517632/en/

Media Contact:

Alison Lubert

alubert@greendotcorp.com

Source: Green Dot Corporation

FAQ

What role did Kim Olson have at Discover Financial Services before joining Green Dot (GDOT)?

Kim Olson served as Head of the Office of Remediation at Discover Financial Services since November 2023, overseeing enterprise remediation of regulatory matters and consent orders.

How many years of financial services experience does Green Dot's new Chief Risk Officer have?

Kim Olson brings over 30 years of financial services experience to her role as Chief Risk Officer at Green Dot.

Who will Green Dot's (GDOT) new Chief Risk Officer report to?

Kim Olson will report directly to Green Dot's Chief Executive Officer, George Gresham.

What was Kim Olson's previous experience before Discover Financial Services?

She began her career at the Federal Reserve Bank of New York in senior policy, regulatory and examination roles, and has served as chief risk officer at global banking organizations.