Longtime regulatory leader to further strengthen ModernFi’s financial services governance, risk management, and regulatory relationships as the company continues to scale
ModernFi, the leading technology provider for deposit management, today announced the appointment of Gale Simons-Poole, a distinguished leader in financial risk management and regulatory oversight, as Head of Regulatory Affairs. Mrs. Simons-Poole most recently served as Chief Risk Officer at BHG Financial, where she led regulatory and compliance matters for BHG lending programs and scaled BHG’s enterprise risk program. Prior to BHG, she spent seven years with Promontory Financial Group, advising bank clients from community to money center banks, nonbank lenders, fintech companies, and financial services organizations. Gale’s extensive experience in bank supervision includes 24 years with the Federal Deposit Insurance Corporation (FDIC) where she was a Deputy Regional Director in Risk Management Supervision. In this capacity, she oversaw risk management for several southeastern states and gained recognition for her expertise in supervisory and compliance matters.
“I am thrilled to join the ModernFi team at this critical time as the company scales its deposit network services with hundreds of financial institutions," said Mrs. Simons-Poole. “I look forward to further strengthening ModernFi’s regulatory relationships and risk programs and building on the company’s mission to help financial institutions compete, grow, and thrive in an ever evolving regulatory landscape.”
Mrs. Simons-Poole joins a team deeply focused on delivering the highest standards of compliance, governance, and safety. She will work closely with current ModernFi board advisors and former regulators, Rodney Hood, former Acting Comptroller of the Currency and former NCUA Chairman, and Gene Ludwig, 27th Comptroller of the Currency, to further deepen ModernFi’s compliance and regulatory framework. Through her time working with banks at the FDIC and Promontory, she has gained unique insight into the challenges financial institutions face of managing business risk and evolving technology solutions.
“Gale’s deep regulatory and industry experience will be invaluable as ModernFi’s growth continues to accelerate,” said Paolo Bertolotti, Cofounder and CEO of ModernFi. “She brings extensive knowledge of portfolio management, regulatory supervision, and enterprise risk management. We are beyond excited to welcome Gale to the team and for her to continue our focus on advancing our compliance and regulatory affairs within the financial services ecosystem.”
During her time with the FDIC, she completed Harvard’s John F Kennedy School of Government Federal Executive Leadership Program and the FDIC’s Women's Executive Leadership Program. Gale holds an MBA from Louisiana Tech University and a bachelor’s degree from Black Hills State University.
About ModernFi
ModernFi empowers financial institutions of all sizes to better serve their communities. Through ModernFi, banks and credit unions can grow, retain, and manage their deposit base by sourcing deposits, sweeping funds, and providing additional security to depositors. Backed by Canapi, Andreessen Horowitz, ICE, and leading banks and credit unions, the firm provides financial institutions with market-leading deposit management built on a modern tech stack and a foundation of compliance. Learn more at modernfi.com.
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“I look forward to further strengthening ModernFi’s regulatory relationships and risk programs and building on the company’s mission to help financial institutions compete, grow, and thrive in an ever evolving regulatory landscape.”
