Brex Names Sibongile Ngako as Chief Compliance Officer

SAN FRANCISCO, CA – July 22, 2024 - Brex, the AI-powered spend platform, today announced that Sibongile Ngako has joined the company as its Chief Compliance Officer. Sibongile brings over 20 years of experience as a compliance and risk management executive and joins most recently from Affirm, a leading payments company, where she served as Vice President of Compliance. Sibongile’s appointment will further Brex’s ongoing commitment to ensuring it continues to meet the highest regulatory standards for its business. In her role, Sibongile will be responsible for leading the company’s compliance program and expanding upon the firm’s current frameworks designed to mitigate regulatory risk.

“At Brex, protecting our customers is one of our biggest priorities, and in connection with top auditing firms we have built a leading compliance program,“ said Pedro Franceschi, CEO of Brex. “We are thrilled to have Sibongile join the team. Her deep industry expertise is invaluable as we continue to innovate and expand our offerings while compliantly navigating an increasingly complex regulatory landscape.”

In her most recent role at Affirm, Sibongile oversaw the development and implementation of the company’s Compliance Management System, including marketing compliance, product advisory, monitoring and testing, reporting, compliance training, issue management, licensing, and bank partner management. Sibongile was also responsible for leading the Financial Crimes compliance program, covering BSA/AML, OFAC and sanctions. Prior to joining Affirm, Sibongile spent 10 years at American Express leading multiple teams across compliance and operational excellence. Sibongile also spent several years of her career as a Bank Examiner and Analyst for the Federal Reserve Bank of New York. Sibongile holds a Bachelor of Arts from Harvard University.

Today, Sibongile also serves as an Advisory Board Member for FinRegLab, a nonprofit organization dedicated to promoting the safe and intelligent use of technology and data in financial services and shaping industry best practices and regulatory frameworks.

“I am ecstatic to be joining Brex, a company that has continuously been at the forefront of financial innovation. With my decades of experience in the fintech and banking sectors, I’ve gained a deep understanding of the complex and evolving regulatory landscape and the challenges and opportunities it presents for the industry. Together, we will ensure that Brex continues to operate with integrity and transparency, providing our customers with the highest level of trust,” said Sibongile.

Learn more about Brex at brex.com.