Recently, the Federal Housing Finance Agency (FHFA) announced the appointment of Tracy Stephan as its new chief artificial intelligence (AI) officer (CAIO). She will continue her role leading the FHFA Office of Financial Technology, according to a FHFA release.
FHFA’s CAIO will manage AI risk, promote AI innovation, and lead effective AI governance in accordance with the Executive Order 14110 on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence and the related Office of Management and Budget Memo on Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence.
“Establishing a chief AI officer underscores FHFA’s commitment to understanding new developments in technology and the marketplace and incorporating those insights into our day-to-day work,” FHFA Director Sandra Thompson said in the release. “Through her role leading the Office of Financial Technology, Tracy has been a leader in FHFA’s work on AI and she is well prepared to lead this into the future.”
Stephan is a 25-year veteran in mortgage technology. In her CAIO role, she leads a team responsible for supporting the agency’s efforts to identify technology-driven developments in housing finance, understand the associated risks, and facilitate the development of responsible innovation in FHFA’s regulated entities.
Stephan came to FHFA from Fannie Mae where she served in a variety of positions overseeing enterprise innovation, data, software engineering, and product management. In these roles she led complex digital transformation initiatives and oversaw mission-critical technology operations, FHFA said.