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Senior Vice President & Chief Risk Officer (CRO) Of Ginnie Mae

This position is located in the Office of Enterprise Risk, Government National Mortgage Association (Ginnie Mae) and serves as Senior Vice President & Chief Risk Officer (CRO) of Ginnie Mae. Ginnie Mae is a wholly owned corporate instrumentality of the United States within the Department of Housing and Urban Development (HUD). The Office of Enterprise Risk (OER) provides the framework for risk management, identifying events or circumstances relevant to Ginnie Mae's objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. By identifying and proactively addressing risks and opportunities, Ginnie Mae protects and creates value for its stakeholders, including the U.S. Government, investors, lenders, issuers, homeowners, and renters.

Major Duties:

• The candidate for this position reports to the Executive Vice President (EVP) and is responsible for the risk management strategies of Ginnie Mae's MBS programs and support program offices. Combined, these program offices manage approximately $2.9 trillion in guaranteed mortgage-backed securities outstanding.
• The incumbent is responsible for Ginnie Mae's Enterprise Risk Committee, which is the CRO's primary forum for leading and coordinating executive and senior management involvement in discussions and decisions regarding enterprise risk issues. Through the Enterprise Risk Committee, the CRO ensures that Ginnie Mae has developed, and continues to maintain, a robust enterprise risk framework by establishing enterprise-wide policies and procedures for risk management throughout the organization; monitoring aggregate risk and compliance with risk policies; and delegating to program offices primary responsibility for day-to-day risk management inherent in their activities.

Through a staff of approximately 25 government employees and 100 subordinate directors, managers and professional staff, the candidate:

• Directs the planning and execution of major projects, studies, and analyses of corporate risk issues and evaluates housing market conditions. The CRO formulates innovative approaches and strategies to quantify credit, market, counterparty, and operational risks. Such determinations include comprehensive coverage, identification, and resolution of major challenges and conflicts; and the recommendation and negotiation of program initiatives and formulation of innovative proposals to mitigate, address and resolve risk issues.
• Directs the independent assessment of exposure to credit, market, counterparty and operational risk across Ginnie Mae; develops risk policies to which the business areas must comply to avoid business that may be detrimental to Ginnie Mae and/or is outside of acceptable risk boundaries; identifies key business risks, monitoring compliance with risk limits, reporting exceptions and recommending the suspension of business practices detrimental to Ginnie Mae; and facilitates communications across the different business areas in order to provide senior management with an integrated, independent assessment of risk. Direct the refining of Ginnie Mae's Issuer Stress Testing framework for unregulated program participants.
• Directs significant resources in establishing policies and standards relating to the comprehensive analysis and oversight of potential, active and dormant issuers (lenders and servicers) of Ginnie Mae's mortgage-backed securities program Ginnie Mae's primary counterparty risk. Directs the ongoing management of a suite of econometric models that meet Ginnie Mae's commercial GAAP and FASAB financial reporting and risk analysis needs. Examples include: CECL; Valuation of Guarantee Assets and Liabilities; Credit Subsidy for President's Budget; Risk Based Pricing and Guarantee Fee Adequacy; and Risk Based Capital.
• Undertakes fact-finding missions and recommends procedural and substantive solutions and/or remedial actions to resolve issues; participates fully on behalf of Ginnie Mae in such issues; and prepares special risk-related reports on Ginnie Mae program matters. Carries out ongoing assignments and special projects that require close personal contact with the Office of the President so as to be able to review, expedite, coordinate, and as required, arbitrate or make high level decisions on his/her behalf; and undertakes a variety of sensitive assignments that may require contacts at the policy level with officials throughout the Department, other Federal agencies, the Congress, private industry, and/or various industry groups.

Perform other duties as assigned.