The Office of Enterprise Risk (OER) is led by Greg Keith, Senior Vice President and Chief Risk Officer, highest ranking official administering Ginnie Mae.
The office is responsible for monitoring and managing the corporation’s aggregate risk and ensuring compliance with risk policies, developing and maintaining corporate-wide procedures for risk management, and providing independent evaluation and oversight of all risk management activities. The office is divided into three divisions – the Counterparty Risk Analysis Division, Economic Model Division and the Operational Risk Analysis Division.
The Counterparty Risk Analysis Division establishes enterprise-wide risk policies and standards related to the management, analysis, and oversight of potential, active, and dormant Ginnie Mae Issuers. The responsibility includes coordination and approval of new Issuers and monitoring high-touch Issuer compliance and performance. This division is also responsible for performing detail analytical and modeling activities that ultimately will drive Ginnie Mae’s risk appetite and policies.
The Economical Modeling and Analytics Division reports directly to Ginnie Mae's SVP and Chief Risk Officer. This division is responsible for developing models and performing analysis to support various business functions at Ginnie Mae. This includes providing financial valuation and loss reserve estimate for the corporation's Financial Reporting, estimating Ginnie Mae's programmatic budget forecast as part of the President of the United States' annual budget process, and providing various risk and valuation analyses on Issuers and loans for risk management and business decisioning purposes.
The Operational Risk Analysis Division reports directly to Ginnie Mae's SVP and Chief Risk Officer. The Operational Risk Analysis Division plans and executes major assessments, studies and analysis to enable all of Ginnie Mae to address the urgent need to proactively recognize and successfully manage operational risk. This division independently assesses risk from inadequately designed or failed execution of internal processes, people and technology or from external events that have an inherent or residual impact on Ginnie Mae. As a result of its assessments, the division formulates innovative approaches and strategies to manage risk and identify emerging risks and trends. Operational Risk Analysis Division's overall goal is to continue to support the growth and development of stronger corporate governance and sustainable, repeatable operational monitoring activities throughout Ginnie Mae.
For additional information, please contact us at GinnieMaeCommunications@hud.gov.