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About

 

Risk Management

About The Office of Risk Management
The Treasury Office of Risk Management is charged with creating a robust risk management culture and overseeing the development and implementation of an integrated risk management framework for the Department.  By providing a highly-engaged yet independent source of holistic and dynamic assessment across a broad range of risks, ORM enables Treasury to improve risk-adjusted policy outcomes and to exercise leadership across a broad range of cross-agency risk management efforts. 
The ORM team advises Treasury leaders and their teams on policies and programs relating to the management of credit, market, liquidity, operational, and reputational risks within Treasury and throughout the federal government where Treasury is involved.  The office also serves as the Secretariat for the Treasury Risk Management Committee, a forum chaired by the Deputy Secretary and Chief Risk Officer through which the Department’s senior policy leaders discuss the key risks facing the organizations and programs they lead, and the Treasury Enterprise Risk Management Council, a Department-wide community of practice for risk management.
About Treasury Chief Risk Officer Ken Phelan
Ken Phelan joined the U.S. Department of the Treasury as its first Chief Risk Officer (CRO) in November of 2014.  Reporting to the Deputy Secretary, he is responsible for establishing and building Treasury’s Office of Risk Management and providing senior Treasury and other Administration officials with analysis of key risks including credit, market, liquidity, operational, governance, and reputational risks across the Department.  
 
Prior to joining Treasury, Ken served as the CRO for RBS Americas (RBSA) from June, 2011 to October 2014.  Before RBSA, Ken was the post conservatorship CRO for Fannie Mae from 2009 - 2011, where he was responsible for Credit, Market and Operational risk across the firm.  Prior to Fannie Mae, Ken joined Wachovia in 2008 as CRO where he provided leadership for Credit, Market and Operational risk management while assisting in the transition phase of the company during its merger with Wells Fargo.  Prior to Wachovia, Ken held a variety of senior risk roles at JP Morgan, UBS and Credit Suisse in the areas of Risk Strategy Development, Loan Portfolio Management, Risk Policy and Analytics/Methodology and Model Review, Market and Credit Risk Management. 
 
Ken has more than 20 years of experience across risk management, capital markets and structured products.  He holds a JD from Villanova University School of Law, an MS in Economics from Trinity College, Dublin and a BS in Finance from Old Dominion University. 
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Last Updated :7/19/2016 10:16 AM

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