Ray Zipay
Enterprise Risk & Assurance Executive | Building Scalable, Transparent, and High-Performing Risk Functions | EVP – PNC | Board & Audit Committee Advisor
- Role
- Executive Vice President, Independent Risk Management at PNC
- Location
- Pittsburgh, PA, US
- LinkedIn followers
- 500 followers
About Ray Zipay
As a strategic enterprise risk and assurance executive, I specialize in building high-performing, data-driven functions that make governance both scalable and transparent. Over three decades, I’ve helped top-tier financial institutions like PNC, Vanguard, and my clients while at PwC evolve complex control environments into agile, insight-rich ecosystems that strengthen decision-making, elevate regulatory confidence, and support sustainable growth.At PNC, I built and led a 430-person enterprise testing organization, integrating assurance across all lines of defense—reducing testing costs by 80% and issues by 50% while tripling automation and analytics adoption. My leadership centers on partnership: aligning risk, finance, and operations to embed accountability and drive continuous improvement.I’m passionate about advancing the profession of risk management—where rigor meets innovation—and mentoring leaders who bring both critical thinking and creativity to governance.Areas of expertise: • Enterprise Risk & Assurance Leadership • Operational & Regulatory Risk • Governance, Risk, and Compliance (GRC) • Technology Enablement in Risk Functions • Global Workforce Optimization (U.S./India) • Board & Regulator Engagement • Culture, Inclusion, and Talent Development
Experience
Executive Vice President, Independent Risk Management
Aug 2015 — Present · Pittsburgh, PA, US
Built an industry-leading 430-person centralized testing organization, integrating assurance across all business lines and functions.• Reduced enterprise testing costs by 80% and issues by 50% annually for four years through framework optimization and automation.• Designed PNC’s enterprise risk and governance framework, aligning operational and third-party risk oversight for scalability and regulatory confidence.• Tripled adoption of analytics and automation via a cross-functional innovation team.• Partnered with Risk, Finance, and Business leadership to align methodologies and strengthen Board reporting.• Launched a global staffing model, transitioning 80% of testing delivery to India while maintaining quality and compliance.• Served on key governance committees (Enterprise Risk, Operational Risk, Compliance Risk, SOX, Independent Risk Leadership, Corporate Diversity Council).• Executive Sponsor, Diversity & Inclusion Council – recognized with enterprise awards two of the last three years.
Education
The Wharton School
Advanced Risk Management Program
Grove City College
Bachelor of Science - BS, Accounting
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