Skip to main content

Cenlar Appoints New VP Of Model Risk Management

Aug 25, 2022
Cenlar
Senior Editor

Ang Shen joins loan subservicer from KPMG advisory practice.

Cenlar FSB, a leading mortgage loan subservicer and federally chartered wholesale bank, has announced that Ang Shen has joined Cenlar as vice president of model risk management. Shen previously spent nearly 12 years at KPMG LLP’s advisory practice.

Ang Shen Cenlar FSB
Ang Shen

Shen will lead the Model Risk Management (MRM) function, supporting Cenlar’s Enterprise Risk Management, the company said. He will be responsible for managing a team performing independent governance and validation of all models used across the organization, in compliance with related regulatory guidance and requirements.

“Ang has an extensive background in developing risk models for various banks and financial institutions, and will serve as a valuable part of the team,” said Sara Avery, Cenlar's chief risk officer. “His role is a critical part of Cenlar’s continuous refinement of our rigorous risk management strategy.”

During his tenure at KPMG, Shen led numerous model-related engagements at a wide spectrum of financial institutions. As the engagement director and primary point of contact, he successfully delivered a large volume of complex model validations for some of the firm’s largest model risk clients. Before KPMG, he worked on mortgage valuation at the Federal Home Loan Bank of Atlanta.

“As an independent validator who provides effective challenge to model owners, I am a firm believer of transparent communication and close collaboration," Shen said. "My goal is to partner with the business units to build robust model risk management practice in assisting the company’s business decisions."

About the author
Senior Editor
Keith Griffin is a senior editor at NMP.
Published
Aug 25, 2022
More from
Wholesale
Rocket Pro TPO Introduces Hotline For Brokers

Rocket Pro TPO is now gunning to capture more share of the broker market.

Jan 10, 2024
Click n’ Close Hires Two For Wholesale, Correspondent Divisions

Ken Weislak and Travis Sharpe to support continued growth of company’s DPA offerings for TPOs and correspondents.

Sep 25, 2023
Homepoint Sues 7 Correspondent Lenders Over Repurchases

Claims breaches of contract; seeking more than $4.6 million in restitution.

Jul 06, 2023
Figure Launches HELOC Wholesale Model 

Fintech says new model will offer originators direct access to its end-to-end HELOC platform

Jun 20, 2023
Freedom Mortgage’s Stanley Middleman Buying Into MLB’s Phillies

He joins UWM’s Mat Ishbia, Rocket’s Dan Gilbert in pro sports owners’ suites.

Jun 13, 2023
What To Know Before Entering The Wholesale Channel

STRATMOR Group's May Insights Report analyzes wholesale lending opportunities for lenders and LOs.

May 25, 2023