Dr. Clifford Rossi is an Executive-in-Residence and Professor of the Practice at the Robert H. Smith School of Business, University of Maryland. Prior to entering academia, Rossi had nearly 25 years’ experience in banking and government, having held senior executive roles in risk management at several of the largest financial services companies.

His most recent position was Managing Director and Chief Risk Officer for Citigroup’s Consumer Lending Group where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans with 700 employees under his direction. While there he was intimately involved in Citi’s TARP and stress test activities. He also served as Chief Credit Officer at Washington Mutual (WaMu) and as Managing Director and Chief Risk Officer at Countrywide Bank.

Previous to these assignments, Rossi held senior risk management positions at Freddie Mac and Fannie Mae. He started his career during the thrift crisis at the U.S. Treasury’s Office of Domestic Finance and later at the Office of Thrift Supervision working on key policy issues affecting depositories. Rossi was also an adjunct professor in the Finance Department at the Robert H. Smith School of Business for eight years and has numerous academic and nonacademic articles on banking industry topics. Rossi is frequently quoted on financial policy issues in major newspapers and has appeared on such programs as C-SPAN’s Washington Journal and CNN’s Situation Room. He is currently writing a book, Fundamentals of Risk Management for John Wiley & Sons, Inc. His policy and research interests include GSE reform, housing finance reform , bank capital issues and implications of Dodd-Frank on banking.

No Research/Citations

Fed Stress Test’s Non-Transparency: Why it Hampers Banks

Maryland Smith risk expert Clifford Rossi explains the extent to which banks are hampered by not getting to see the Federal Reserve’s stress test model and how this can affect the economy.
18-Jul-2022 03:10:43 PM EDT

‘Risk Leadership in 2022’ Webinar with Fannie Mae, Maryland Smith Experts

Risk Leadership Series webinar on Feb. 17 will explore how CROs and Board Risk Committees work together in grappling with risk including that associated with ESG and DEI.
07-Feb-2022 03:15:25 PM EST

Webinar: A Scientist's Take on Climate Models and Risk Management Applications

In the week following COP26, University of Maryland experts Tim Canty (Department of Atmospheric and Oceanic Science) and Clifford Rossi (Center for Financial Policy) will give insights on the latest IPCC climate change report and its implications for risk managers.
08-Nov-2021 08:55:36 AM EST

Finance Themes to Watch for During COP26

Having held senior executive roles in risk management at several of the largest financial services companies, Maryland Smith professor Clifford Rossi examines climate change implications for finance and risk management ahead of COP26.
21-Oct-2021 02:45:45 PM EDT

New Study Shows Path to Uninterrupted Supply of Safe, Effective Drugs for U.S. Consumers

In a study funded by the FDA and HHS, Maryland Smith risk management expert Cliff Rossi shows a path to reducing U.S. consumer exposure to prescription drug shortages.
30-Sep-2021 08:35:24 AM EDT

New ‘Federal Risk Academy’ Certificate Program to Launch from Maryland Smith’s Center for Financial Policy

Maryland Smith and Deloitte will deliver a certificate program covering risk management for federal employees, in live virtual sessions between Jan. 11 and Feb. 1, 2022.
28-Sep-2021 12:35:07 PM EDT

UMD Experts to Explore Climate Change Policy Implications for Financial Risk Managers

Experts Clifford Rossi and Leon Clarke at the University of Maryland lead a discussion on “Cracking the Code on Climate Change Economic Scenarios: Issues in Translating Physical to Financial Risks.”
08-Feb-2021 08:55:53 AM EST

First-of-its-kind Collateral Risk Education Series Launches Sept. 14

Clifford Rossi, formerly a risk executive for the likes of Citi and Countrywide, directs an online series at the intersections of mortgage collateral valuation and risk management. Vigilance against deficiency in this area, he says, “is particularly critical as markets are supply constrained and getting the appraisal right is essential.”
12-Aug-2020 09:00:22 AM EDT

Atlantic Hurricane Season and Mortgage Default Risk

Maryland Smith finance professor and former risk executive Clifford Rossi’s new study examines the future implications of a predicted increase in hurricane activity for the likes of borrowers and mortgage credit investors.
10-Jul-2020 08:40:14 AM EDT

"When it comes to these episodic, fat-tail risk types of outcomes – like a pandemic or a financial crisis – those conditions remain outside of the range of what our models can assess accurately."

- https://thehill.com/opinion/healthcare/496384-coronavirus-is-a-problem-data-models-cannot-comprehend

"The nature of that data is so proprietary and so personal, and in many ways, so intrusive, I would say that at the very least it needs to have a heightened level of regulation on it, at least as much as what the banks have."

- https://www.rhsmith.umd.edu/news/how-equifax-hack-could-change-everything

Homeowners should calculate the difference between their current note rate, compared to the prevailing market rate. “The bigger the difference, the more ‘in-the-money’ you are, and the bigger monthly savings you are likely to see.”

- https://www.rhsmith.umd.edu/faculty-research/smithbraintrust/insights/it-time-refinance-your-house

Available for logged-in users onlyLogin HereorRegister