Deputy Chief Risk Officer
U.S. Department of Commerce
Karen Hardy is Director, Risk Management Division, and Deputy Chief Risk Officer at the U.S. Department of Commerce. Dr. Hardy provides leadership in Enterprise Risk Management, Audit Follow, and annual FMFIA requirements. Dr. Hardy is nationally recognized for her work as a change agent and was on detail to OMB for a year as a senior advisor as OMB drafted and worked through all the issues of A 123.
She played an instrumental role in advising OMB's Controller on the strategic direction of ERM implementation across government, which led to the issuance of the revised circular A-123 "Management's Responsibility for Enterprise Risk Management and Internal Control" released in July 2016. She is also a faculty member of the Brookings Institution's Executive Education Program and has led risk management discussions at the United Nations Under-Secretary-General for Management. Prior to her federal career, Dr. Hardy worked for Citibank.
Dr. Hardy authored Section 270.24 on Enterprise Risk Management in OMB Circular A-11, which formally introduced ERM in the Federal Government's performance framework. She is the first Federal employee to serve as a member of the 2015 COSO Advisory Council for ERM; and served on the Steering Committee for the U.S. Federal Government's "ERM PLAYBOOK". She is author of bestseller book “Enterprise Risk Management: A Guide for Government Professionals,” (John Wiley & Sons 2014); is a founder of the Association for Federal Enterprise Risk Management (AFERM) and Board Vice President; and founder of the Federal Interagency ERM Council in 2013.
Dr. Hardy holds a Doctorate in Organizational Leadership and Human Resource Development from Nova Southeastern University, and Masters in Business Administration. She is the recipient of two Bronze Medal Awards for superior performance from the Department of Commerce Assistant Secretary for Administration and Chief Financial Officer.