February 6, 2024

Ballston Spa National Bank Appoints Thomas E. Ratsep to SVP, Senior Risk Officer and Senior Credit Officer

Ballston Spa National Bank (BSNB) has announced the promotion of Thomas E. Ratsep to an expanded role that includes oversight of the bank’s enterprise risk management program. In this capacity, Ratsep will oversee compliance management, information security, and internal audit. Reporting directly to BSNB’s President and Chief Executive Officer Christopher R. Dowd, Ratsep also retains oversight of the credit administration, collections and commercial loan servicing functions.

“Tom brings extensive knowledge and expertise to this critical leadership position,” said Dowd. “During his tenure with BSNB, Tom’s contributions have helped strengthen the foundation of our risk management program. As the industry continues to change, I am confident that he will be instrumental in advancing enterprise risk management at BSNB.”

Thomas Ratsep is a seasoned banker with more than 33 years of experience in community banking, including senior management positions in both credit administration and commercial lending.  He holds a bachelor of science with a concentration in corporate finance from the University of Vermont. He is also a graduate of the ABA Stonier National Graduate School of Banking at the University of Pennsylvania and of The New England School of Banking at Williams College.  Reflecting the bank’s commitment to making a difference for customers and the community, he serves on the board of directors and is treasurer of the Veterans and Community Housing Coalition in Ballston Spa, NY, a position he’s held since 2006.