head of Compliance Management Information Systems
Each year, the Birmingham Business Journal publishes their list of Top 40 Under 40, which recognizes individuals who have contributed to their company’s growth and success, are key leaders in their organizations, play a critical role in the community and will have an impact on the Birmingham business community moving forward.
Cannada joined Regions in 2012 as part of the Finance division’s Debt and Capital Planning team at a pivotal time, when banks were still recovering from the Great Recession and developing programs and processes to ensure compliance with the new Dodd-Frank Wall Street Reform and Consumer Protection Act. The capital management processes that Cannada and a cross-functional team put into place back then are still in use more than a decade later and serve as critical functions to help support Regions’ customers and communities with lending activities, which is key to the continued growth and success of the bank.
Lessons learned in that early role at Regions – the importance of driving action and achieving successful results through developing effective relationships – served Cannada well as he took on additional responsibilities at the bank.
In 2016 he moved to Risk Management as head of Regulatory Operations, where he led a team that served as liaisons to the bank’s regulatory agencies, including the Federal Reserve, the Consumer Financial Protection Bureau and the Alabama State Banking Department. Cannada was responsible for facilitating regulatory exams, managing regulatory issues and maintaining regular touchpoints and communication.
Cannada then served as head of Enterprise Risk Testing, a function that ensures business products, services and processes are in compliance with federal and state laws and regulations. In 2022, Cannada began working closely with teams across the bank to strengthen Regions’ efforts to protect customers and the bank from financial crimes while prioritizing customer protection and maintaining a high level of service.
“As head of Fraud Compliance, Baker was responsible for building out Regions’ Fraud Compliance Oversight Framework, which was no small task and critical in the current operating environment,” said Chief Compliance Officer Anna Brackin. “He’s passionate about doing what is right for our customers and works relentlessly to ensure his commitments are met.”
Most recently, Cannada was tapped to lead Compliance Management of Information Systems (MIS). He and his team are responsible for analytics and reporting, data support and enablement, technology monitoring and model oversight.
In His Own Words
“One consistent key to success within each role I’ve had at Regions has been my determination to ‘Put People First,’ which is one of Regions’ corporate values,” Cannada said.
“When interacting with various groups and teams from across the bank, I challenge myself to understand their perspectives and cultivate a personal relationship. It is much more rewarding to achieve success as a team.”