The Smith School’s Clifford Rossi contributed economic expertise to a new FDA white paper showing how quality management systems can reduce drug shortages, cut costs, and boost supply chain resilience through continuous domestic pharmaceutical manufacturing.

Krisha Chheda, ’25 MQF, presented a Google-sponsored credit risk project at Google’s Higher Ed Leader Series, highlighting Smith master’s students’ use of AI to analyze banking and fintech practices through the Smith Enterprise Risk Consortium’s experiential learning program.

Smith Master of Quantitative Finance students partnered with Google to build AI-driven credit risk ratings for banks and fintechs, analyzing 25,000+ financial documents. Their work showcases how AI and financial expertise can transform credit assessment and industry forecasting.

Credit risk for GSE-eligible mortgages remained low and stable in Q3 2024, according to indexes from the Smith Enterprise Risk Consortium, though risk has gradually increased since 2021 due to borrower composition and loan term shifts.

Merging Fannie Mae and Freddie Mac is a critical step before privatization, argues Clifford Rossi, to reduce systemic risk, eliminate duplicative costs, and simplify the mortgage system—setting the stage for a safer, more efficient housing finance market transition.

Clifford Rossi, Academic Director of the Smith Enterprise Risk Consortium, warns that pharma tariffs could disrupt supply chains, raise costs, and pressure manufacturers, especially generics. Adopting continuous manufacturing (CM) offers efficiency gains, balancing risk mitigation with strategic investment.

The Smith Enterprise Risk Consortium (SERC) at UMD’s Smith School released Q2 2024 results for its Mortgage Credit Risk Index (MCRI) and Mortgage Redtail Risk Index (MRRI). SERC Director Clifford Rossi noted that credit risk remains stable despite a slight year-over-year rise.

Smith MQF students, guided by SERC Director Clifford Rossi and Google’s Pedro Morales, use AI tools to analyze financial data for credit risk signals. This project builds on prior ELP successes in climate and credit risk modeling.

Registration is open for the SERC Risk Academy, a three-day workshop on risk management fundamentals, led by UMD professors and industry leaders. Presented by SERC and coordinated by Smith Executive Education, the program features expert instruction, including insights from SERC Director Cliff Rossi.

Risk expert Clifford Rossi testified before Maryland lawmakers on January 21, 2025, warning that extreme climate events, like the recent LA fires, are overwhelming insurance companies. He proposed creating a federally chartered National Hazard Insurance Corporation (NHIC) to address the crisis.