Interac Corp. is pleased to announce that Mario Falvo has joined Interac as Chief Risk Officer. Mario brings over 15 years of financial services experience and a decade of risk management expertise to his new role and will drive the Enterprise Risk Management strategy and programs across the organization.
As Interac continues to grow and expand our capabilities in new areas including the Real-Time Rail, an increased focus on enterprise risk management and strategy remains critical. In addition, the designation of Interac e-Transfer as a Prominent Payment System (PPS) by the Bank of Canada has expanded our compliance requirements and risk management standards, accelerating the need to evolve our risk management function.
No stranger to large undertakings, Mario comes to Interac from Meridian Credit Union where he held a dual role of Vice President, Risk Management & Compliance for Meridian and Chief Risk Officer for motusbank, an OSFI-regulated digital bank that is wholly-owned by Meridian.
In this role, he provided strategic direction and oversight of risk management and compliance programs, ensuring that all organizations in the Meridian Group maintained integrated risk and compliance frameworks and programs to enable enterprise strategic plans. He also acted as a trusted advisor to Management and the Board of Directors of Meridian and motusbank on all facets of risk. During his tenure at Meridian, he was involved in many key initiatives including M&A transactions, system conversions and implementations, share offerings and development of numerous operational programs and frameworks. Mario was a also key member of the team that designed, built and launched motusbank in 2019.
Having built and managed risk management and compliance programs for institutions that are both federally and provincially regulated, Mario’s unique and specialized skillset will help Interac continue to strengthen its leadership position in Canada.
Mario is a CPA, CA and holds several board positions, including Member of the Board of Directors of Welland Hydro-Electric System Corporation and its related companies since 2006 and currently Board Chair and Audit Committee Chair; and Member of the Audit Committee of the Niagara Catholic District School Board since 2017.
He is an avid and experienced downhill skier, enjoys swimming and cycling and has taken up long distance running during the pandemic, with his sights set on one day running a marathon.