Miles Draycott was named chief risk officer in the Bureau of Asset Management in the office of New York City Comptroller Scott M. Stringer, adviser and custodian of the $163.4 billion New York City Retirement Systems, said Eric Sumberg, Mr. Stringer's spokesman.
It is a new position, part of Mr. Stringer's “comprehensive ethics and reform plan” for the bureau, said a news release from the comptroller.
Mr. Draycott is “charged with developing and institutionalizing formal risk management and will identify, create and implement operations and systems to monitor financial and enterprise risk,” the news release said. He was previously an independent consultant and in the past had worked as a risk manager and trading executive at multiple firms including Deutsche Bank and Merrill Lynch.
Additionally, Mr. Stringer announced the hirings of Shachi Bhatt as chief compliance officer and Khanim Babayeva as internal auditor as part of the reform effort.
Both are also new positions. Ms. Bhatt, who was previously associate director, compliance and risk management, at Convergent Wealth Advisors, will identify and implement systems to assess internal regulatory compliance in addition to vendors' compliance.
Ms. Babayeva, who was previously manager, internal audit, at Grameen America, will develop internal audit programs.
