MBANow: Cliff Rossi on Risk Management

The Mortgage Bankers Association released a new MBANow video featuring Cliff Rossi, Executive in Residence of the Practice at the Robert H. Smith School of Business at the University of Maryland, to discuss a soon-to-be published a paper on risk management through the MBA-sponsored Research Institute for Housing America and a program he’s developed with MBA Education on Advanced Risk Management. 

The video can be viewed at https://www.youtube.com/watch?v=6o9zT8qj_bo&feature=em-uploademail.  

Rossi said the motivation for the paper and the program have their roots in the financial crisis that began more than 10 years ago.  

“Product development was something that was not well-evolved, generally speaking, across the industry,” Rossi said. “[The paper] was developed to give risk practitioners better tools to be able to understand when the processes that they have throughout the entire life cycle of the mortgage process are good enough for financial institutions to take.”  

The Advanced Risk Management program is geared toward senior executives. Rossi cited a dearth of qualified risk management programs when he was in the mortgage business, seeking training for his staff.  

“We can provide the industry with very applied but leading practice-type training to help people do a better job in managing risk in the mortgage industry, particularly in the sense that we are at the cusp of an up-cycle, so we want to be even more vigilant about that now.”  

The RIHA paper will come out shortly; more information about the Advanced Risk Management course can be found at MBA Education www.mbaeducation.org.  

Other videos in the MBANow series can be viewed at the MBA YouTube channel, https://www.youtube.com/watch?v=Swk2VUJeZFI&feature=em-uploademail. The videos are also available on the MBA Insights landing page, https://www.mba.org/publications/insights/insights-publication##SubscriberID####RND##&PageID=21109.