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Bank of Canton Appoints Shannon F. Mahoney as Senior Vice President of Compliance, C.R.A. & Risk

Risk management professional brings more than 20 years’ experience to executive position

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.

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Upcoming Events

  • Estate Planning Lunch & Learn in Canton

    March 12 @ 12:00 pm - 1:00 pm at Bank of Canton, Canton Center Branch

    The B.O.C. Life Solutions team will discuss how you and your family can:

    • Protect assets from nursing home costs
    • Transfer assets and pay minimal estate taxes
    • Appoint a health care proxy to assist with medical decisions
    • Avoid the uncertainty, costs, and delays of probate

    Event is free & all are welcome. Lunch will be provided to those who RSVP. Call 781-830-6152 or email Peter Fredericksen with questions.

    RSVP Today

    B.O.C. Life Solutions is a licensed subsidiary of Bank of Canton. Bank of Canton does not provide legal or tax advice; consult your legal/tax advisor. Estate planning products and services are not insured by the FDIC or DIF.


  • Savvy Social Security Planning

    March 14 @ 6:00 pm - 7:30 pm at Bank of Canton, Canton Center Branch

    Approaching retirement? Learn how to make the most of your Social Security options and benefits at this complimentary presentation. The B.O.C. Financial Services team will review different filing strategies, and provide expert tips for maintaining income in retirement. Topics include:

    • The pros & cons of filing at age 62
    • Projected earnings calculations
    • Spousal and survivor benefits

    Event is free & all are welcome. Light refreshments will be served. Call 781-830-6152 or email Peter Fredericksen with questions.

    RSVP Today

    Investment and insurance products and services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. B.O.C. Financial Services is a trade name of Bank of Canton. Osaic Institutions and Bank of Canton are not affiliated. Products and services made available through Osaic Institutions are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.


  • Virtual First-Time Homebuyer Workshop (3 Nights), March 11, 12 & 14

    March 11 @ 6:00 pm - March 14 @ 9:00 pm at Zoom Meeting

    Join Quincy Community Action Programs (QCAP) and Bank of Canton for a comprehensive home buying workshop, featuring real estate professionals, counselors and lenders offering expert guidance and advice. This three-evening workshop over Zoom qualifies as a MassHousing-approved homebuyer counseling course, and attendees of all three sessions will receive a Certificate of Completion.

    • Session 1: Monday, 3/11, 6:00pm-9:00pm
    • Session 2: Tuesday, 3/12, 6:00pm-9:00pm
    • Session 3: Thursday, 3/14, 6:00pm-9:00pm

    RSVP Today

    Bank of Canton is a proud sponsor of (and participant in) this QCAP educational series.