SVP, Compliance/CRA/Risk Officer Shannon F. Mahoney
CANTON, Mass. (February 10, 2023) – Shannon F. Mahoney recently joined Bank of Canton as senior vice president, compliance/CRA/risk officer. A former bank examiner and accomplished risk manager with more than 20 years’ experience in the industry, Ms. Mahoney brings to the bank an extensive background in risk management and mitigation, audit program development, and regulatory compliance management.
“Bank of Canton has done an admirable job balancing growth with the risks inherent in everyday operations,” said Ms. Mahoney. “The bank has adapted well to changes in the regulatory environment and the needs and expectations of its customers, and I’m looking forward to further developing its controls and adding to its capabilities to properly assess and manage risk in all its forms.”
Ms. Mahoney joins Bank of Canton following several leadership roles at Greater Boston area banks, where she developed multi-year, risk-based audit plans, strengthened enterprise risk frameworks and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) programs, and served as primary liaison to regulatory authorities. She began her career as an examiner at the Commonwealth of Massachusetts Division of Banks, specializing over her ten-year tenure in financial analysis, BSA, and information technology examinations before shifting her focus to the private sector.
Working out of the bank’s 490 Turnpike Street headquarters in Canton, Ms. Mahoney reports directly to Chief Financial Officer Christopher Lake.
“Shannon has an impressive track record of developing risk programs that provide the requisite controls for sustained safety and soundness, while also incorporating sufficient flexibility to meet the needs of customers and communities,” said Mr. Lake. “Bank of Canton will benefit greatly from her expertise and leadership.”
Ms. Mahoney graduated with a B.A. degree in accounting and economics from College of the Holy Cross in Worcester. She lives in Milton with her husband and three children.
About Bank of Canton
Established in 1835, Bank of Canton is a Massachusetts-chartered mutual savings bank that offers its consumer, business and government banking customers access to a full array of deposit, loan, investment and convenience service options. As a mutual savings bank, the bank has no stockholders and acts exclusively in the best interests of its customers and communities. The bank lends throughout Massachusetts, and has branches in Canton, Quincy and Randolph and a mortgage center in Auburn. All deposits are fully insured between the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). For more information, visit www.ibankcanton.com. Member FDIC. Member DIF. Equal Housing Lender. NMLS #408169.