Countrywide Names Chief Risk Officer

Jess Lederman has been named chief risk officer of Countrywide Financial Corp., Calabasas, Calif., filling a post recently vacated by John P. McMurray, who was named chief risk officer at Washington Mutual Inc.Mr. Lederman joined Countrywide in 2005 and served as Countrywide's managing director of products and pricing before being named to his new role, the company said. In his new role, Mr. Lederman will lead Countrywide's credit and counterparty risk management efforts and have oversight responsibility for market and operational risks. In addition, Mr. Lederman will be responsible for all mortgage insurance and credit enhancement relationships, and the company's model validation process. A 27-year industry veteran, Mr. Lederman began his career in the financial services industry in senior positions with Sears Mortgage Securities Corp. and Bear Stearns, where he co-founded two of the first private-sector counterparts to Fannie Mae and Freddie Mac. He later built the mortgage banking business of Ohio Savings Bank.