Enrico Dallavecchia

I am Enrico Dallavecchia, experienced risk management executive with over 25 years of experience in the international financial sector

---

Enrico Dallavecchia leads Headwaters' Risk Management practice providing a suite of risk managemet services to Family Offices, Family Business Holding Companies, Business Owning Families and Trustees.   Enrico Dallavecchia was the Chief Risk Officer and Executive Vice President of PNC Financial Services, reporting to the president and chief executive officer, from April 2010 to December 2011. He had responsibility for credit, market, counterparty, model and operational risk and for compliance.   From June 2006 to August 2008, Enrico Dallavecchia was Fannie Mae’s executive vice president and chief risk officer, reporting to the president and chief executive officer and the board of directors. Enrico Dallavecchia had responsibility for credit, market, counterparty, and operational risk oversight for all business units within Fannie Mae and was responsible for measuring, reporting, and monitoring Fannie Mae’s risk profile and for formulating risk policies.   Prior to joining Fannie Mae, Enrico Dallavecchia was with JPMorgan Chase for 19 years. He was the head of Market Risk Management for the Chief Investment Office and Retail Financial Services. His responsibilities included oversight of the firm’s global investment portfolios and structural FX exposures. He also was responsible for managing market risk for retail, mortgage, and small-business banking, as well as auto and student-loan financing. Previously, he was responsible for managing the market risk of the company’s global treasury and proprietary positioning divisions on a worldwide basis, and co-headed the Market Risk Technology group.   From 1997 to 1999, Enrico Dallavecchia was based in London where he was a managing director, responsible for the market risk of fixed-income and emerging market activities and treasury in Europe and Asia. His banking career began in 1987 when he joined Manufacturers Hanover/Chemical Bank, in Milan where he worked on developing derivatives markets in Italy.   Before entering banking, Enrico Dallavecchia was a teaching associate, econometrics, at the University of Venice, Italy; a research associate for the Italian National Research Agency; and served as lieutenant in Italian army’s Brigata Alpina Cadore.   Enrico Dallavecchia has a degree in economics, summa cum laude, from the University of Venice in Italy.

Senior Managing Directors at Headwaters SC

August 2012 - Present | Pittsburgh

Lead Headwaters' risk management practice related to: (i) considering risk related to operating business growth strategies, (ii) company capitalization and financing transactions, (iii) capital investment plans, and (iv) measuring portfolio risk relative to the inter-play among wealth allocated to direct investments in operating businesses or operating asset, and the other investment assets classes owned by wealthy families including super-liquid investments, liquid and semi-liquid investments, and alterative investments

Chief Risk Officer - Executive Vice President at PNC Financial Services Group

April 2010 - December 2011 | Pittsburgh

Responsible for credit, market , model and operational risk and compliance

Consultant at _

February 2009 - March 2010

Risk management advisor to hedge funds, asset managers and family offices.

Chief Risk Officer - Executive Vice President at Fannie Mae

July 2006 - August 2008

Reported to President and CEO and to the Board of Directors. Responsible for the risk oversight of $2.7 trillion mortgage guarantee portfolio and over $800 billion investment portfolio. Established credit, market and operational risk policies for the company, approved company-wide market and credit risk limits, implemented economic capital methodology to evaluate business returns, developed relationship with senior management of regulatory agency.

Risk Executive - Managing Director in New York at JP Morgan Chase

April 2005 - June 2006

Head of Market Risk for Chief Investment Office (domestic and overseas), Retail Financial Services (Mortgage Banking, Retail Banking, Auto and Education Finance, Insurance), Corporate Treasury, Credit Cards and Asset Wealth Management.

Managing Director in New York at JPMorgan Chase

December 1998 - March 2005

Market risk officer for Global Treasury (domestic and overseas), Proprietary Positioning Division and Retail Financial Services. Co-head of Market Risk Technology, the group responsible for developing, implementing and maintaining the firm-wide risk measurement systems (including VAR, Stress test, Specific Risk and market risk regulatory reporting). Responsible for risk limits at firm-wide and line of business level. Developed and implemented of market risk policies, including limit structures, limit monitoring policies and processes and risk management MIS with specific focus on Asset/Liability Management, Mortgage Banking and Investment Portfolios. Implemented firm-wide consolidated VAR, Stress Test and Single Name measurement system and MIS; extensive experience acquired during 8 mergers in integrating risk policies, limits, systems and staff. Developed consolidated MIS to measure and control credit risk and implemented mark-to-market methodology for wholesale loans, distressed debt and counterparty risk. Developed market risk measurement for Investment portfolios and Asset/Liability – VAR, Stress Testing, Economic Value Portfolio Equity, Net Interest Income Stress Testing.

Managing Director in London at The Chase Manhattan Bank

May 1996 - November 1998

Responsible for market risk of international fixed income, emerging markets and international treasury investment activities. Responsible for the market risk oversight of Chase’s Investment Portfolio worldwide

Vice President in New York at Chemical Bank

January 1994 - April 1996

Responsible for the market risk analysis of fixed income, FX and Treasury activities

Vice President in Italy at Chemical Bank

April 1987 - December 1993

Responsible for the development of interest rate and foreign exchange derivatives products in the Italian market and for the development of bond options trading activity in various Manufactures Hanover/Chemical Bank branches in Europe

Liutenant at Italian Army

June 1986 - April 1987

Brigata Alpina Cadore, Belluno, Italy

Universita'  Ca' Foscari di Venezia

Economics

Credit Risk, Market Risk, Risk Management, Compliance, Stress Test, Basel II and III, Operational Risk, Fixed Income, FX , ALM, Enterprise Risk Management, Liquidity Risk, Mortgage Servicing, Economic Capital, Portfolio Management, Management, Credit , Mortgages, Hedge Funds, Banking, Derivatives, Family Business, Family Office,