ALEXANDRIA, Va. (Feb. 9, 2023) – Today, the National Credit Union Administration named Cory Phariss as the new President of the Asset Management and Assistance Center, effective February 12.
In his new role, Mr. Phariss will serve as the key advisor to the NCUA Board on matters like implementing liquidation payouts, managing assets acquired from liquidations, and managing recoveries for the National Credit Union Share Insurance Fund. He will also lead AMAC’s additional responsibilities, which include technical assistance and consulting related to conservatorships, real estate and consumer loans, appraisals, bond claim analysis, and accounting records reconstruction.
“Cory has already played a significant role in several large, complex credit union resolutions while serving as Deputy to the President of AMAC,” NCUA Chairman Todd M. Harper said. “With his extensive experience, exceptional business acumen, and strong management skills, Cory is well-suited to lead the Asset Management and Assistance Center and will hit the ground running. I look forward to working with him in support of AMAC’s mission of promoting confidence in the credit union system and minimizing insurance losses.”
Said Vice Chairman Kyle Hauptman, “Few jobs at NCUA are as crucial as President of AMAC, so I’m pleased we’ve promoted a high performer like Cory to this position. I look forward to working with Cory to accomplish the agency’s top priority, which is protecting the Share Insurance Fund.”
“Cory is a proven leader who will excel as the President of the Asset Management and Assistance Center,” Board Member Rodney E. Hood said. “He is knowledgeable, trustworthy, and studious. The NCUA significantly relied on Cory as he successfully managed the agency through the taxi medallion crisis, so I know he will be able to face any challenge that comes his way. We are lucky to have Cory on our executive management team.”
Mr. Phariss currently serves as the Deputy to the President of AMAC. He joined the NCUA in 1999 and served in various roles including Supervisory Examiner and Director of Supervision in the former Region IV. He has led and participated on a variety of national initiatives, including the agency’s enterprise modernization efforts, and the taxi medallion resolution.
Mr. Phariss holds a Bachelor of Business Administration from Texas Tech University.
The Asset Management and Assistance Center, located in Austin, Texas, is the successor to the Asset Liquidation and Management Center, which was created in 1990 to handle problem assets the NCUA acquired from both operating and liquidating credit unions. Renamed the Asset Management and Assistance Center in 1996, the office’s role has expanded to include providing consulting services to the NCUA regional offices on lending analysis, records reconstruction, and fraud investigation. AMAC also provides training to NCUA and state credit union examiners.