Krishan Wanchoo
FAMILY IS WORTH THE RISK
Krishan Wanchoo credits the opportunities he’s had to the sacrifices his parents made by emigrating from India to provide his family with a better life. His father, who after attending law school twice — first in the U.K. and again in the U.S. in order to practice in the states — eventually opened his own law firm in New York. This instilled in Krishan a strong work ethic and love for education.
When he was four years old, Krishan and his family moved from the U.K. to Ridgewood, New Jersey. He went on to attend Carnegie Mellon University and completed his degree in Finance and Math in 2009, at the tail end of the financial crisis. Fortunately, Krishan was able to join Freddie Mac through the College Hire rotational program as a business technology analyst and has been with the company since then in various Capital Markets roles.
Today, Krishan oversees the MRiSC team: Multifamily Risk, Strategy & Capital. Their responsibility is to manage our portfolio risk through economic and profitability analyses. By examining and modeling data, they can provide strategy recommendations to teams across the company that lead to a reduction in risk and an increase in profitability. Annual risk-limit planning and setting for the Division is also within his team’s purview.
After 14 years at Freddie Mac, Krishan has reached a lot of personal milestones: He obtained an MBA from Georgetown University, used Freddie Mac’s first-time homebuyer benefit to purchase a home, got married and started a family. And importantly, he’s been able to maintain a good work-life balance to be able to spend quality time with his children, something that his own father had to sacrifice to secure their future.
Let’s hear more from Krishan on the impact his work has at Freddie Mac and its overall mission.
What does diversity mean to you?
A: Generally, that term is applicable to a variety of areas: gender, ethnicity, race. When applied to Freddie Mac, I think diversity fosters innovation, sharing of different opinions, and better decision-making and results. Freddie Mac having a diverse and inclusive workforce ensures that multifaceted viewpoints are being heard to ultimately do better business to help further our mission.
Diwali was on November 12. How did you celebrate the event?
A: Diwali is the Hindu festival of lights where you wish for good prosperity and health. Generally, we decorate the house in lights, eat good food and desserts, sing prayers accompanied by ringing bells, light sparklers and fireworks, and open gifts.
Now as a parent to two kids, I get to relive my childhood Diwali memories through them. It’s fun watching them fight over ringing the bell or get excited about opening gifts — twice, since we also celebrate Christmas! Although they may not understand all the customs, being together with family and friends and celebrating in good spirits is something I’m sure they’ll remember fondly.
Krishan with his wife and children dressed in traditional Diwali attire.
How do you see your job impacting the bigger mission?
A: Even though my team doesn’t execute transactions, we utilize data and analyses to help the business employ effective risk management and ensure adequate returns. Through this advisory function, I see my job primarily supporting one of the company’s priorities — safety and soundness — which in turn enables us to better provide liquidity, stability and affordability to the market during all economic cycles.
Ten years from now, what would you like to say you accomplished here?
A: Ten years from now, I hope I can say I supported the company in reaching its capital restoration goal in an economically sensible manner through sound advisement and risk/strategic planning — and that this work has enhanced upon our mission.
In the last 10+ years I’ve worked at Freddie Mac, I’ve learned and grown a lot especially through navigating challenging issues, such as reducing Multifamily’s spread risk and earnings volatility, and in doing so created many great and long-lasting relationships. I’ve had amazing mentors and bosses who have helped me to grow and succeed.
Freddie Mac is a wonderful place to work, not only because of the people. We are a financial services company that isn’t just focused on the bottom line — we serve a larger purpose and mission of making home possible. I am proud to call it my home and I hope to continue to grow, help mentor others and take on any challenges that may come my way over the next 10 years.
Krishan with his parents on a hike at Banff National Park in Alberta, Canada.