Hanley Economic Building Society has appointed Matt Ellis as its new chief risk officer.

Ellis (pictured) brings more than 25 years’ experience in financial services and is a chartered accountant.

He spent 19 years at MBNA, now part of Lloyds Banking Group, where he held a range of senior roles.

Since then, Ellis has led three successful UK regulatory applications, including securing a full banking licence with JN Bank, now known as thisbank, and most recently a payment services licence with PEXA.

During his four years at PEXA, Ellis served as UK chief risk officer. His remit included second line of defence oversight across the business, including Optima Legal Services and Smoove following their acquisition by PEXA.

At Hanley Economic Building Society, Ellis will take responsibility for all second line risk and compliance activity. This includes acting as data protection officer and money laundering reporting officer.

He will work closely with teams across the society to review and strengthen the risk management framework, supporting its growth in the mortgage and savings markets.

Founded in 1854, Hanley Economic has more than 20,000 members and five branches in Biddulph, Newcastle, Longton, Stone and at its Festival Park, Stoke-on-Trent headquarters.

Mark Selby, chief executive officer at Hanley Economic Building Society, said: “Matt is a transformational leader with extensive experience in building risk-based working practices and culture across both the first and second lines of defence.

“His start-up and regulatory experience will support us in further developing our risk management framework, helping to ensure that the Society delivers the next phase of its strategy for members and other stakeholders.”

Ellis added: “It’s clear that the Society has a strong culture and a clear sense of purpose, and I’m looking forward to working with colleagues across the business to support its plans and ensure we continue to meet the needs of members and our intermediary partners in an ever-changing market.”