Governance, Risk, and Value Creation

The Governance Fund Advisors, LLC is a private initiative to foster  the better governance, understanding, and use of risk in the pursuit of  value creation. David R. Koenig is the Founding Principal. The company  received early investment backing from prinicipals at two private equity  firms, a private investment vehicle, and a small group of individual  investors, all of whom maintain an ownership interest in the company. 


Our Founder - David R. Koenig

Since he began his career in 1985, David's work has been focused on helping organizations to be more successful in achieving their goals through better risk-taking and better risk governance.  Because of his innovative approach to risk, he's been a featured speaker at more than 75 events on four continents. 

His executive leadership roles have included the creation and development of corporate risk management programs at three different companies, the management of complex portfolios in excess of tens of billions of dollars in size, the risk oversight of a complete suite of public mutual funds for one of the world's largest banks, the development of the first firmwide risk management program in the mortgage banking business, and board positions at both non-profit and for-profit entities.

He is one of the founders of the Professional Risk Managers’ International Association (PRMIA), where he led that organization and the PRMIA Institute from their founding until 2007. By the time he handed over the reins, the organization had more than 45,000 members from over 180 countries and annual revenues had grown from zero to over $2.5MM.  He served as the Chair, Board of Directors of PRMIA, the Chair of that organization’s Ethics Committee, a member of its Academic Advisory Council and a member of its Education and Standards Committee. He had oversight of the development of all publications, training programs, member and volunteer relations, and strategic planning. He was honored as the recipient of the PRMIA Higher Standard Award in 2008 - the top recognition bestowed on any member of the association.

He is the founder of the Directors and Chief Risk Officers group ("the DCRO"), The DCRO was formed in 2008 to focus on the top-level governance of risk in practice. Bringing together leading board members, chief risk officers, and other c-level officers whose jobs include a fiduciary responsibility for governance and risk management, the DCRO counts more than 2,000 members from large and mid-size for-profit and nonprofit organizations, coming from over 115 countries. David led the work of the DCRO Qualified Risk Director Governance Council, responsible for the DCRO Qualfied Risk Director Guidelines, and the DCRO Compensation Committee Risk Governance Council, which is responsible for the DCRO Guiding Principles for Compensation Committees.

David's work has been recognized internationally, including being named as one of the winners of the inaugural M-prize for management innovation. In 2007, his industry peers nominated and selected him as one of the first 100 members of the Risk Who's Who international honorary society. 

He is the author of the highly acclaimed book Governance Reimagined: Organizational Design, Risk, and Value Creation, as well as numerous articles and chapters in textbooks. He's been quoted in Time Magazine, the Wall Street Journal, Forbes, and other leading publications and, in his youth, was a regular guest on the Financial News Network (now CNBC). He serves on the editorial board of the Journal of Risk Management in Financial Institutions and was invited to be the special editor of two issues of the JRMFI. 

David was a Mentor for the 2012 class of the acclaimed MiddCORE program of Middlebury College. He was also the only non-alumnus invited to be a member of the 2011 TRIUM MBA Term Project Executive Board (TRIUM is a joint program of NYU Stern School of Business, the London School of Economics and Political Science, and HEC School of Management, Paris) 

David earned his M.A. in Economics from Northwestern University and his B.A. degrees in Mathematics and Economics from Miami University in Oxford, OH. He practices his work from an office in the beautiful college town of Northfield, MN 

Read endorsements of David's work

Put us to work for you