Chief Audit Executive Garcia to Retire; Newman Hired as Replacement

Jim Garcia, Executive Vice President and Chief Audit Executive announced he will retire July 15, 2024, and the Bank’s executive leadership team has hired Scott Newman as the next Chief Audit Executive. To ensure a smooth transition, Newman’s his first day is June 24 and will work closely with Garcia until his retirement

“Jim has been an invaluable member of our executive team and we have benefited in many ways from his time at Banner,” said Mark J. Grescovich, President and Chief Executive Officer. “Jim fostered a culture of transparency and accountability through his consistent, proactive reporting of all audit matters. His commitment to excellence and meticulous attention to detail have earned him the respect and admiration of our Board of Directors as well as his colleagues and industry peers.”

Scott Newman has been hired as the Bank’s next Executive Vice President and Chief Audit Executive. Newman has 30 years of audit experience, more than 20 of those in leadership positions. His experience includes banking, trust, investment management, securities and insurance. Most recently, Newman was the Director of Risk Management and Internal Audit for a large regional insurance company, which included leading their enterprise risk and internal audit. He previously held similar audit executive roles at a large regional bank as well as a global investment management firm.

“I’m confident Scott is an excellent fit for our Banner culture,” Grescovich said. “Additionally, he is well-regarded among industry peers as well as with regulators. He holds a deep commitment to developing relationships with business partners to find optimal solutions for all parties while never compromising ethics and objectivity.”

Newman earned his bachelor’s degree in economics as well as his bachelor’s degree in business administration-finance from Central Washington University. He holds several professional certifications including Certified Internal Auditor, Certified Information Systems Auditor, Certification in Risk Management Assurance, Certified Financial Services Auditor, and Certified Information Systems Security Professional. He is active in the Tacoma community and serves on several professional boards, including the Washington State Board of Accountancy, which is an appointment by the governor.