BBVA Compass has hired a veteran banker to make sure that the company achieves its Community Reinvestment Act goals.
The $76 billion-asset company in Birmingham, Ala., which is a unit of Spain’s Bilbao Vizcaya Argentaria, named Chris McGillis as its CRA program administration director. The CRA is federal legislation created in 1977 to ensure that financial institutions meet the credit needs of the communities they serve.
At BBVA, McGillis will manage the reporting, strategy development and implementation of the bank’s CRA program. BBVA is looking to centralize responsibility of its community development efforts, and McGillis will serve as the primary liaison to the company’s digital banking, commercial and global wealth and retail lines of businesses.
McGillis has 36 years of banking experience, in which more than 20 are related to community development. This work history made her a “standout candidate” for BBVA’s new role, said Reymundo Ocanas, director of corporate responsibility and reputation at BBVA Compass, in a Monday press release.
Ocanas said that McGillis’ “ability to structure and negotiate complex strategies will help us to deliver a comprehensive CRA program that meets the needs of the communities we serve.”
McGillis comes from SunTrust Banks, where she served as the company’s corporate community reinvestment officer.
Earlier this month, BBVA announced plans to hire 10 community relations officers who will work with nonprofits and manage services for low- to moderate-income individuals as a way to improve its community reinvestment record.