Class of 2020
Caroline Tsai is an accomplished C-suite executive with 20 years’ experience working at three global financial services companies and driving cross-functional fintech and digital transformation. Ms. Tsai has deep expertise in corporate governance, crisis management, ethics and regulatory compliance, strategic planning, sustainability, capital management, liquidity and funding, acquisitions, and divestitures.
Ms. Tsai is Chief Legal Officer and Corporate Secretary for The Western Union Company, a S&P 500 (NYSE: WU) global digital cross-border money transfer and payments company, with more than 500,000 agent locations in 200 countries and territories. Westernunion.com and Western Union app digital services are offered in North America, Europe and across Middle East and Asia Pacific. Western Union’s digital services pay out in cash, account, or mobile wallet.
Since joining the company, Ms. Tsai has been an integral part of the executive leadership team, and has been involved in strategic planning, identifying, and developing new revenue opportunities, overseeing risk management, crisis management and business continuity planning, public policy, ethics, and regulatory affairs and the legal, compliance and enterprise risk organization. Ms. Tsai is a member of the Executive Team, the Operating Committee and serves as Chair of the Executive Risk Committee.
Ms. Tsai is known for being a proactive and results-driven leader with a focus for business innovation. She has led a team of over 2,000 employees in 50 countries and inspired innovation across the legal, compliance and enterprise risk organization to enable Western Union’s new operating model and business strategy, including digital growth and customer experience initiatives.
Prior to joining Western Union, Ms. Tsai was Deputy General Counsel and Chief Regulatory Officer at BMO Financial Group. While at BMO Financial Group, Ms. Tsai advised on advocacy and policy initiatives, as well as all bank regulatory and supervisory issues for BMO’s global operations (U.S. Canada, Asia, and Europe) including Personal and Commercial Banking, Wealth Management and Capital Markets. She also served as Chief Legal Officer, U.S. Personal and Commercial Banking at BMO Harris Bank, leading the negotiation and closing of the GE Transportation Finance business ($9B).
Earlier in her career, Ms. Tsai served as Senior Vice President & Associate General Counsel at Bank of America Corporation where she was responsible for a broad range of issues, including litigation, bank regulatory matters, the CFO Group and Global Banking and Markets. She began her legal career at the global law firm, Jones Day specializing in complex structured transactions for investment banking clients.
Ms. Tsai is a frequent speaker on regulatory compliance, leadership and DEI. She is an experienced non-profit board member, including the Chicago Sinfonietta and Dress for Success Charlotte. Tsai is a strong champion for diversity and inclusion and formerly served as Co-Chair of the Women’s Leadership Network of the National Asian Pacific American Bar Association.
Born in Sao Paulo, Brazil, Ms. Tsai is the daughter of Chinese immigrants. She earned a Bachelor of Arts degree from the University of Michigan and a juris doctor degree, magna cum laude, from The American University, Washington College of Law. She is fluent in Mandarin Chinese.