NAPERVILLE, Ill. – Alloya Corporate Federal Credit Union has named Karen Mitchell as its chief risk officer (CRO).
The appointment reflects the organization’s commitment to upholding the highest standards of risk management, corporate governance and strategic growth, it said.
John Collins, the current chief risk officer, will be retiring in early 2026 after a distinguished career of service to Alloya and its credit union members.
“We are delighted to welcome Karen Mitchell to our executive team as chief risk officer,” CEO Todd Adams said in a statement. “Her experience and leadership in risk management, combined with a forward-thinking approach, will be invaluable as we navigate today’s complex business environment. Under her stewardship, we will continue to champion proactive risk practices, drive operational excellence and safeguard our credit union members’ interests. I also want to thank John Collins for helping Alloya reach high levels of performance while remaining safe and secure. John will remain part of the senior management team through early 2026 to better ensure a seamless transition of responsibilities. After that, we wish John all the best in his well-earned retirement.”
As global markets evolve and risks become increasingly complex, Alloya said it recognizes the importance of an experienced and visionary leader to oversee its enterprise risk management framework. The new chief risk officer will be responsible for identifying, assessing and mitigating risks across all business operations, ensuring that Alloya remains resilient and adaptive in the face of new challenges, regulatory requirements and shifting market dynamics.
“Mitchell brings a strong track record in risk management, compliance and operational resilience, having served as a bank regulator, as a senior risk manager at a regional bank and most recently as a risk management consultant with Wipfli,” Alloya said. “With extensive expertise in designing and implementing risk strategies, Mitchell will collaborate closely with executive leadership, board directors and business units to reinforce a robust culture of risk awareness.”
Prior to joining Alloya, Mitchell served as a director and enterprise risk management service line leader at Wipfli LLP, where she spearheaded transformative risk initiatives that strengthened operational resilience and ensured regulatory compliance for her clients.
Before her tenure at Wipfli, she was a commissioned bank examiner with the FDIC and held senior management roles at a community bank in the western suburbs of Chicago. She holds a master’s degree in finance and management and is certified in COSO Enterprise Risk Management.
“Throughout her career, Mitchell has been recognized for developing innovative risk solutions, mentoring high-performing teams and cultivating stakeholder trust. She is a frequent speaker at industry conferences and a contributor to thought leadership publications focused on risk management, governance and emerging trends. In addition to her professional accomplishments, Mitchell has served on several nonprofit boards, reflecting her commitment to community engagement and leadership beyond the financial sector.”
