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Walter Investment Management Corp., a Tampa-based mortgage firm currently undergoing a shift in senior management, named banker-turned-federal regulator Alfred Young chief risk and compliance officer.
Young was most recently director of risk analytics with the federal Office of the Comptroller of the Currency's Supervision Risk Management division, according to a statement. Young also held leadership positions in the OCC's Large Bank Supervision unit, overseeing regulation of some of the country's largest consumer and mortgage banks. Before going into regulation, Young held compliance and risk-related roles at mid-size and large national banks, including Star Bank, Provident Bank, Fifth Third Bank, Commerce Bank and Toronto Dominion, the release adds.
Walter also named Elizabeth Monahan chief human resources officer and Timothy Cranny senior vice president of performing loan servicing. Monahan has been in human resources for more than 27 years, and has worked for global organizations and startups, the release states. Cranny has 25 years of experience financial services, including a stint as a managing director at CitiMortgage.
All the new executives will each report to Walter President and CEO Anthony Renzi, named to the top post at the company in August. Young and Monahan will be based outside Philadelphia and Cranny will be based in Rapid City, S.D.
"I am delighted to welcome Fred, Liz and Tim to the Walter team," says Renzi in the release. "They each bring proven leadership and seasoned experience across a variety of key disciplines that are essential to our success. Together with their Walter colleagues, they will serve to form a high performance team focused on continuous improvement and results.”
Walter Investment Management Corp. works primarily on servicing and origination of residential loans, including reverse loans. It had $1.2 billion in sales in 2015 and has about 5,300 employees.
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