Established by the BUILD Act, DFC’s CRO will play a critical role in helping the agency navigate the risks associated with investment in emerging markets
WASHINGTON – Alice M. Miller was approved by the U.S. International Development Finance Corporation (DFC) Board of Directors to serve as the agency’s first Chief Risk Officer (CRO). As CRO, Miller will lead efforts to identify and manage risks to DFC.
“The BUILD Act directs DFC to prioritize the least developed—and most challenging—markets in the world,” said DFC Chief Executive Officer Adam Boehler. “Alice has dedicated her career to helping organizations manage the unique risks associated with doing business in these markets. As DFC’s first CRO, Alice will lead DFC’s efforts to understand and manage risk while promoting development and advancing U.S. foreign policy.”
“In creating DFC, Congress understood the importance of both managing risk and capitalizing on opportunities to advance the agency’s development objectives,” said Miller. “I am honored to be joining DFC as its first Chief Risk Officer, and look forward to supporting decision-making through the implementation of a range of risk management tools and approaches as the agency continues to finance solutions to development challenges all over the world.”
Miller brings more than 20 years of experience in development finance with a focus on risk assessment and financial management. Most recently, she served as the first Chief Risk Officer of the Millennium Challenge Corporation (MCC), where she was responsible for guiding and overseeing the agency’s approach to assessing and managing risk, including developing and implementing its enterprise risk management program.
Prior to joining MCC, Miller was Chief Financial Officer at Financing for Development Corp., a nonprofit organization that promotes innovations in financing to increase the efficiency of investments in development. She previously served as Chief Risk Officer for the Development Credit Authority (DCA) of the United States Agency for International Development (USAID).
Miller has also worked at the World Bank, Export-Import Bank of the United States, and U.S. Department of Commerce. She received her M.A. from the Johns Hopkins University School of Advanced International Studies and a B.A. from Gonzaga University.
The position of CRO was established in the Better Utilization of Investments Leading to Development (BUILD) Act of 2018, the legislation which created DFC. In this role, Miller will lead efforts to ensure that DFC’s potential and actual risks are considered in aggregate, coordinate risk management activities across the agency, and provide an independent viewpoint on major decisions related to enterprise risk. Miller was appointed to serve as CRO by Boehler and will report to the DFC Board of Directors.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.