Clifford Rossi

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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.

Post-Crisis and Below Average: A Financial Sector Report Card

SMITH BRAIN TRUST – The Smith School's Clifford Rossi remembers pacing his office in a 41-story office tower in Midtown Manhattan, watching Citi’s stock price plunge again below $4 per share and thinking that it appeared to be teetering on the brink. The stock had lost nearly 70 percent of its value that week, nearly 90 percent since the start of the year.

The End of Libor

The end is near for Libor, the scandal-plagued financial benchmark formerly dubbed "the world's most important number." British regulators say they will phase out Libor, the London interbank offered rate, by the end of 2021, replacing it with a more transparent set of metrics that are more closely aligned with loan transactions. The shift is tectonic – Libor is said to underpin hundreds of trillions of dollars in loans and derivatives worldwide. Among them: mortgages, automobile loans, and student debt. The Smith School's Clifford Rossi discusses what Libor's demise means for global finance. Read more...

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