Debt buyer Encore Capital Group, based in San Diego, announced Tuesday that Michael Haubenstock has joined the company as vice president and chief risk officer.
Haubenstock will be responsible for managing Encore's enterprise risk framework and ensuring that the company's risk policies and "reporting will continue to support the company's growth."
Encore President and CEO Brandon Black said: "We are pleased to have someone of Mike's caliber assuming responsibility for this important new role at Encore. Mike will help us effectively manage our ongoing growth and development in a way that is consistent with our commitment to our consumers and our shareholders. He will be an integral part of the team that will work with the Consumer Financial Protection Bureau as they begin to engage with our industry."
Haubenstock joins Encore from SunTrust Mortgage and Consumer Banking, where he served as senior vice president of Operational Risk Management. Before SunTrust, he was the director of Enterprise Risk Management at Capital One, and spent many years as a partner in the financial risk management practice at PricewaterhouseCoopers, leading consulting and risk assessment programs for a range of domestic and international financial institutions.
He has authored numerous publications on risk management and related topics and has been named as one of the top 50 faces of operational risk by Operational Risk and Compliance magazine.
Earlier this month, Encore Capital reported a record second quarter, including gross collections from the portfolio purchasing and recovery jumping 23% over the year-ago period.