Tuesday, Jun. 30, 2020, 10:21 AM
Tricolor is looking to shore up its endeavors to meet state and federal regulatory standards by hiring a chief compliance officer.
On Tuesday, the used-vehicle retailer with locations in California and Texas focusing on the sale and financing of vehicles to Hispanic customers announced that has it named veteran compliance executive Stacie Trier to this post.
“More than ever, lenders have both a responsibility and an opportunity to align their business models with appropriate outcomes by providing borrowers with access to credit on fair and affordable terms,” Tricolor chief executive officer Daniel Chu said in a news release.
“I am thrilled to welcome Stacie as a highly qualified and respected leader who can help us maintain our mission-driven focus and disciplined risk outlook as we enter this next phase of expansion in response to rapidly growing market need and customer demand,” Chu continued.
Prior to joining Tricolor, Trier managed enterprise risk and compliance at Exeter Finance, serving as the company’s chief risk officer for the past two years. She previously spent 12 years at Capital One across both compliance and risk management roles.
At Tricolor, the company said Trier will be part of the core leadership team tasked with rapidly scaling its platform and retail network while expanding availability for its high quality, used vehicles and access to responsible auto financing options in new markets.
“Tricolor has developed a distinctive lending model which integrates its mission-driven approach with its core business competencies and value proposition to the consumer,” said Trier. “As customer needs continue to rise, I’m excited to help Tricolor realize its vision on a broader scale while helping to enhance the brand they’ve created.”
Since its founding in 2007, Tricolor has served more than 60,000 customers and originated $1 billion in paper by using its proprietary model to segment risk.