Common Securitization Solutions Names Lysette Bailey Senior Vice President and Chief Risk Officer

BETHESDA, Md., March 23, 2022 /PRNewswire/ -- Common Securitization Solutions (CSS) today announced that Lysette Bailey has joined the firm as Senior Vice President and Chief Risk Officer (CRO). As CRO, Bailey will lead CSS's comprehensive ERM program, managing the company's overall integrated risk appetite framework, including its enterprise-wide processes and systems for identifying and reporting current and emerging risks.

"CSS is excited to welcome Lysette to our executive management team as CRO," said Tony Renzi, CSS's Chief Executive Officer. "As a cloud-technology enabled business, I really wanted our CRO to have deep risk experience with cloud-based technology and cyber risk coupled with operational and capital markets risk experience. We are very pleased to have someone with Lysette's expertise, who brings insight and extensive experience from both the business and regulatory sides of the industry."

CSS supports U.S. housing markets as the largest and most technologically advanced mortgage securitization administrator in the financial services industry. Through its state-of-the-art cloud-based platform, CSS manages the issuance and servicing of Fannie Mae's and Freddie Mac's Uniform Mortgage-Backed Security (UMBS) and complex multi-class securitization structures. Today CSS administers over 1 million securitization structures representing 30 million loans and outstanding principal balances of more than $6 trillion dollars. The monthly processing volume (a function of loan originations) routinely exceeds $400 billion each month. 

"The CRO position is a critical leadership role for CSS with respect to both identifying and mitigating risks that might compromise the integrity, safety and soundness of Fannie Mae and Freddie Mac's mortgage-backed securities program." added Renzi. "Now more than ever our ability to further enhance our risk management program to include heightened focus on cyber and information security is key."

Bailey joins CSS from Comerica, where, since 2018, she served as Senior Vice President, Chief Operational Risk and Technology Risk Officer. In this role she was responsible for operational and technology risk, managing multi-risk management professionals. Prior to Comerica, Lysette was Vice President and Operational Risk and Technology Risk Officer at Wells Fargo. Additionally, she held several senior leadership roles at the Federal Reserve Bank of Chicago, including Director and Chief Information Security Officer, and has also held various senior level positions in risk at BMO Harris Bank and Experis.

SOURCE Common Securitization Solutions, L.L.C.

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