Financial services veteran brings extensive experience in enterprise risk management.
ST. PAUL, Minn., Tuesday, November 27, 2018 – John J. Grace has been named chief risk officer of AgriBank effective December 17, 2018 following a national search. Grace, who has extensive experience in enterprise risk management for financial services companies, currently is president of Steller-Grace Consulting, LLC in Chicago.
"John Grace has a broad and extensive background with financial services companies, including expertise in enterprise risk management, which is core to our role of obtaining funds and providing funding and financial solutions to the 14 Farm Credit Associations that are our owners and customers," said Jeff Swanhorst, AgriBank CEO. "We expect to benefit greatly from his experience in critical areas such as financial modeling and quantitative analysis, model risk management and governance, asset/liability management, liquidity and treasury risk management, and business continuity.
Grace has held senior risk management roles with a number of the nation's leading financial services companies. Prior to launching his risk management consulting practice, he served as chief risk officer of Options Clearing Corporation, Chicago, and senior managing director of strategic planning, Global Treasury & Capital Markets, AIG, New York. He earlier held management positions with JPMorgan Chase and CitiGroup. He holds an MBA in Finance from The University of Chicago and a Bachelor of Arts degree in Economics from Loyola Marymount University, Los Angeles.
"I'm excited to join AgriBank as chief risk officer," Grace said. "I look forward to working with my new AgriBank colleagues and our Farm Credit Association customer/owners to ensure Farm Credit's risk management framework continues to provide a reliable and stable source of credit to our Association owners and their customers."
Grace will succeed Jim Jones, who was named chief credit officer of AgriBank effective October 1, 2018. Kim Brunner, who has served as interim chief risk officer since October 1, will resume her role as vice president—Enterprise Risk Management. As chief risk officer, Grace will also serve as a member of the AgriBank Executive Leadership Team.
AgriBank is part of the customer-owned, nationwide Farm Credit System. Under Farm Credit's cooperative structure, AgriBank is primarily owned by 14 local Farm Credit Associations, which provide financial products and services to rural communities and agriculture. AgriBank obtains funds and provides funding and financial solutions to those Associations. The AgriBank District covers a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas. For more information, please visit www.AgriBank.com.