Raleigh, North Carolina, United States – October 2024 – David Box has joined First Citizens Bank as the Vice President, Director of Risk, where he will lead the bank’s Risk and Control Self-Assessment (RCSA) Program. In his new role, David will focus on advancing First Citizens Bank’s risk management framework, applying his extensive background in operational risk, compliance, and strategic oversight.
Prior to First Citizens Bank, David served for nearly 16 years at Fannie Mae, culminating in his role as Vice President of Single Family Operational Risk. During his tenure, he was instrumental in establishing the operational risk management framework for the $4 trillion single-family mortgage division, encompassing risk assessment, regulatory compliance, and governance. David also directed a 40-member team and spearheaded the implementation of KPIs and risk metrics to enhance operational visibility and reporting.
In earlier roles at Fannie Mae, David held the position of Vice President of Strategy, Analytics & Compliance for approximately three years. He worked closely with senior leadership to craft a financial strategy for managing distressed assets, leading to a significant cost-saving initiative that reduced expenses by over $29 million. His role also included implementing technology systems to manage foreclosed properties, which remain in use today.
David also served as the Vice President of REO Sales Outsourcing at Fannie Mae, where he led a team of 100 and drove vendor performance improvements, saving the organization over $10 million annually. His strategic improvements in contract management and vendor accountability set new standards for operational efficiency.
Before joining Fannie Mae, David worked as a Senior Business System Analyst at Bank of America and held management roles in systems and business operations at Countrywide Financial, HomeOne Credit Corp, and Fleetwood Retail Corp. Over his expansive career, David has honed his expertise in operational risk management, change management, and team leadership, making him a valuable addition to First Citizens Bank’s risk division.
Headquartered in Raleigh, N.C., First Citizens Bank provides a full range of banking services for personal, business, commercial, and wealth clients. With over 500 branches across 30 states, First Citizens has a reputation for strength, stability, and long-term thinking. Its parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), ranks among the top 20 U.S. financial institutions with more than $200 billion in assets, supporting clients with innovative financial solutions nationwide.
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