Susan Poot will take up the post with effect from this coming Monday, replacing current group chief risk officer Mark Thundercliffe, who is retiring after a suitable handover and advisory period, the bank noted.
Poot joins Virgin Money from ING Bank, where she spent more than 20 years in a number of commercial and risk roles, the most recent of which was chief risk officer, retail banking, where she managed a team of around 1,000 people.
Virgin Money was formerly known as CYBG, the owner of the historic Clydesdale and Yorkshire bank names.
Chief executive David Duffy said: “Susan’s knowledge and experience will be instrumental in fulfilling our ambitious growth-led digital agenda. Building on the strong foundations we already have in place I look forward to working closely with her as she brings her strategic vision and commercial mindset to the role.”
Poot added: “It’s an incredibly exciting time to be joining Virgin Money as it takes the next steps in its digital transformation. I’m looking forward to bringing my experience as the organisation accelerates its digital first strategy and develops exciting new customer propositions.”
In November, Virgin Money confirmed a return to the black with pre-tax profits of £417 million for the year to the end of September.
In September, the group dealt another blow to high street banking after taking the axe to a dozen Scottish branches. It said the number of customers using bank branches for day-to-day transactions had been on a “downward trajectory”.