Ed Clark, president and CEO of TD Bank Financial Group today announced the appointment of Mark Chauvin, currently head of credit risk, as executive vice president of risk management and chief risk officer.

In his new role, Chauvin will lead TD’s risk management functions and represent TD with external regulators including OSFI, FSA and the U.S. federal regulators. The appointment is effective immediately.

“I am very pleased about this decision. Mark has earned the respect and confidence of the entire senior team here at TD during his 26-year career and he is known for his ability to provide balanced solutions,” Clark said in a release. “Mark’s expertise and his understanding of the business, combined with his exceptional judgment positions us well to deliver on our business strategies.”