Online sports betting operator DraftKings allows users to enter daily or weekly fantasy sports contests to win money. Courtesy of DraftKings.
DraftKings announced two executive moves on Wednesday. The fantasy sports and sports betting company named Jennifer Aguiar as its new Chief Compliance Officer, a role previously held by Tim Dent. As a result, Dent is also switching roles, going from Chief Financial Officer and CCO to Senior Vice President, Regulatory Operations. DraftKings said that Dent will continue to manage the company’s relationships with regulatory authorities before he transitions to a consultant role later in 2021.
DraftKings is an entertainment company that specializes in daily fantasy sports contests. The company got its start as a gaming platform in 2012. In 2018, the U.S. Supreme Court lifted a federal ban on sports betting and left it up to the individual states to decide for themselves if they consider it legal or not. Currently, sports betting is fully operational in 25 states, with 21 legal markets operational and more legislation pending. As DraftKings has entered the legally murky sports betting market, it highlights the necessity for a chief compliance officer role.
Aguiar previously worked as the company’s Vice President, Compliance, and Risk Officer. In her new role, she will oversee corporate compliance and enterprise risk management. She will also handle all U.S. and international licensing requirements related to daily fantasy sports, sports betting, and iGaming, ensuring that DraftKings is compliant with the law.
“Jennifer has been an instrumental asset to our organization, successfully navigating the company through the emergence of daily fantasy sports and the state-by-state licensing and regulatory process,” DraftKings co-founder and CEO Jason Robins said. “The compliance framework developed by Jennifer has been a critical element in positioning DraftKings to enter new states quickly following the legalization of sports betting and iGaming. She has created a culture of compliance at DraftKings and will continue to play a pivotal role in the company’s growth.”
Aguiar joined the company in 2016 as Head of Compliance and Risk and brought an extensive background working in compliance and risk management leadership roles at several financial institutions. Before joining DraftKings, Aguiar worked as Director of Compliance at the Lending Club, and also held leadership roles at Citizens Bank and Capital One.
She is a Certified Anti-Money Laundering Specialist, a Certified Information Privacy Professional/US, a Certified Risk Professional and a Certified Regulatory Compliance Manager. She currently serves on the executive and advisory boards of the Riccardi College of Business at Bridgewater State University, her alma mater.
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