Capital One hires director of risk management

Michael Haubenstock has joined Capital One’s Richmond, Virginia, office as a director of risk management, where he will establish an enterprise-wide risk management function.

Haubenstock was previously a partner in the financial risk management practice at PricewaterhouseCoopers in New York, where he led the operational risk management practice for financial institutions.

“Capital One is a leading provider of credit cards and is rapidly expanding into other areas of consumer finance,” Haubenstock told RiskNews.

“It uses its 'proprietary information-based strategy' to scientifically test and refine its marketing and credit strategies before taking them to market and tailoring products to the individual customer," he added. "Its quantitative approach, aggressive growth and focused strategy make it a very unique organisation.”

Capital One is a US-based consumer finance company with managed loans of $48.6 billion.