Mastercard has named Karen Griffin in the new role of Chief Risk Officer as part of a shakeup that also sees Jennifer Rademaker appointed as its first Chief Future of Work Officer

Griffin, who is currently the company’s Chief Compliance Officer, will take up the new role immediately and will be tasked with strengthening the company’s risk management strategy and building on procedures currently in place.

Previously, she served as executive vice president and chief compliance officer at Visa for more than six years and held the tole of vice president of corporate compliance at Alcatel-Lucent, now Nokia.

The company said the role had been created as managing an organisation’s risk appetite had become increasingly important in recent years.

Jennifer Rademaker, meanwhile, has been named Chief Future of Work Officer, as the company aims to put a greater focus on people and culture.

She will lead all aspects of future of work for Mastercard – from programmes that support flexibility, to office spaces, to tools and resources that enable employees to work most efficiently.

“These new positions strengthen our company and reinforce our deep leadership bench around the world,” said Michael Miebach, president and CEO of Mastercard.

He added, “I look forward to what Karen and Jennifer will bring to these incredibly important positions. Their unique skills and experiences will help the company navigate an ever-evolving industry and world.”