Karen Weber is the Deputy Chief Risk Officer and Director of the Office of Risk Management at the U.S. Department of the Treasury. She has been in the office since November 2014 after working for almost two years to set up the office. Reporting to the Chief Risk Officer (CRO), she is responsible for analyzing key risks including credit, market, liquidity, strategic, operational, governance, and reputational risks across the Department. She also assists in the development and implementation of policy that directly impacts the risk management of Federal credit, insurance, and related programs.
She was one of the lead drafters of Playbook: Enterprise Risk Management for the U.S. Federal Government, was part of the team helping to update OMB Circular A-123, “Management’s Responsibility for Enterprise Risk Management (ERM) and Internal Control,” is on the ERM Executive Steering Committee, and chairs the ERM Community of Practice.
Prior to joining the Office of Risk Management, Karen was in the Treasury Office of Policy and Legislative Review (renamed Office of Federal Program Finance) from June 2001 to November 2014, last serving as the Acting Director. Her work entailed performing analyses of various Federal credit programs, as well as developing policy for government borrowing, lending, and investment programs and related proposals to recognize or reduce risk to the taxpayer. She played a leading role in developing updated policies for Federal credit programs in the most recent update to OMB Circular A-129, “Policies for Federal Credit Programs and Non-Tax Receivables.”
Karen holds a Master of Public Administration from the George Washington University and a BA in Economics and Political Science from Dickinson College. She has earned the RIMS Certified Risk Management Professional credential and Federal micro-credential. She has also authored a chapter on the development of Treasury’s ERM program in the recently published Public Sector Enterprise Risk Management: Advancing Beyond the Basics.