Derek Brummer Appointed Chief Risk Officer of Radian; Scott Theobald Tapped to Serve in Newly Created Role of EVP Lender & St...
26 Juin 2013 - 2:00PM
Business Wire
Radian Group Inc. (NYSE: RDN) today announced the appointment of
Derek Brummer as executive vice president and chief risk officer.
The position was previously co-managed by Brummer, who oversaw risk
management for the financial guaranty business, Radian Asset
Assurance Inc., and Scott Theobald, who oversaw risk management for
the mortgage insurance business, Radian Guaranty Inc.
In this newly created position, Brummer will be responsible for
all aspects of the credit risk management strategy and framework,
as well as evaluating credit policy, for Radian and its
subsidiaries. He will report directly to Radian CEO S.A.
Ibrahim.
Brummer joined Radian in 2002 and has served as chief risk
officer and general counsel for Radian Asset since 2008, where he
was responsible for managing all risk and legal matters for the
financial guaranty company and its insured portfolio. Brummer led
all risk management strategy, overseeing portfolio surveillance,
reserving, quantitative analytics and modeling, and directing
restructurings and workouts. He also played a key role in
developing and structuring new product lines and overseeing various
underwriting committees. Brummer holds a J.D. from New York
University School of Law.
“We are pleased to have Derek play this important role at
Radian,” stated Ibrahim. “Derek is a well-respected member of the
Radian executive team, and given his experience in risk management
and strategy, he is the ideal choice for this position.”
As Radian continues to position itself for future growth,
Theobald, who joined the company in 1997, will assume the newly
created role of executive vice president, lender and structured
products for Radian Guaranty. Theobald will be responsible for
fostering new business and product development, and pricing and
reporting for fee-based business opportunities. In addition, he
will continue to oversee loss management.
“During his tenure, Scott has played a valuable role in
establishing Radian as a leader in the mortgage insurance market,”
stated Teresa Bryce Bazemore, Radian Guaranty’s president. “Scott
has a deep understanding of the industry, and this in combination
with his varied experience and natural leadership ability, fosters
an innovative approach that will help him to be successful in this
position.”
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia,
provides private mortgage insurance and related risk mitigation
products and services to mortgage lenders nationwide through its
principal operating subsidiary, Radian Guaranty Inc. These services
help promote and preserve homeownership opportunities for
homebuyers, while protecting lenders from default-related losses on
residential first mortgages and facilitating the sale of
low-downpayment mortgages in the secondary market. Additional
information may be found at www.radian.biz.
Radian (NYSE:RDN)
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