SEC Chairman Jay Clayton created the position to strengthen the agency’s risk management and cybersecurity efforts, according to a news release.
Mr. Benincasa, who will work within the SEC’s office of the chief operating officer, will coordinate the SEC’s efforts to identify, monitor and mitigate risks facing the commission. He will also serve as a key adviser on other matters related to enterprise risks and controls, the SEC said.
Julie Erhardt, who had been serving as acting chief risk officer while the SEC completed its recruitment efforts, will return to her role as deputy chief accountant for technology and innovation in the commission’s Office of the Chief Accountant.
“Establishing the chief risk officer position at the SEC is an important step forward in our continuing efforts to strengthen the agency’s risk management program,” Mr. Clayton said in the news release. “Gabe is an experienced senior leader with deep risk, legal, compliance, and financial markets expertise.”