Evetts, 48, takes on the new role having been Head of Financial and Credit Risk at the West Bromwich Building Society for almost five years.

Prior to that he was Head of Credit Risk at the Yorkshire Building Society.

Evetts, who has worked within building societies for 25 years, said: “The Chief Risk Officer role has been created to make sure that the Society effectively manages all the risks that it faces.

“This includes not just risks such as credit, fraud and security, but also making sure we are treating our customers fairly and consistently, adhering to the high service standards they would expect.

“Alongside its mainstream mortgages, the Vernon also lends in several specialist niche areas– retirement mortgages, self-build – and we need to make sure we have the right risk management processes in place to facilitate this.

“The Vernon has some very specific skills and special values and it’s important that we apply these within the regulatory framework in a way that is effective whilst still helpful to our customers. We don’t want to lose what makes the Vernon unique.”

Evetts will be involved in all areas of the business including product development, lending criteria and managing operational risks.

He added: “We have to demonstrate we are managing our risk – ultimately it’s so we have better outcomes for our customers and the Society.”

Mike Hanson, Chief Executive at the Vernon, said “Our increased capabilities ensure the Society can carry on serving our customers’ needs with the right type of product, whilst managing the risks appropriately for the benefit of all members. Adam will play a fundamental role in helping us to achieve this.”

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