Jenna D. Evans
About Jenna D. Evans
Executive Vice President and Chief Risk and Compliance Officer at Onity Group Inc. since October 2022; age 44 as of April 10, 2025 . Previously Deputy General Counsel in charge of Regulatory Affairs since October 2016; joined Onity in February 2013 after roles at GMAC Mortgage and six years in private practice serving regional banks and financial services firms . Education/licensure: B.A. (Public Relations) from Pennsylvania State University; J.D. from Temple University; licensed to practice law in Pennsylvania and New Jersey . Company performance during her tenure includes FY2024 GAAP net income of $33 million, diluted EPS $4.13, and 8% ROE, with servicing UPB reaching $302 billion and strategic balance sheet actions (debt refinancing, asset sale/acquisition) to strengthen liquidity and earnings power .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Onity Group Inc. | EVP, Chief Risk & Compliance Officer | Oct 2022–present | Enterprise risk management oversight; regulatory compliance leadership during balance sheet and strategic transactions . |
| Onity Group Inc. | Deputy General Counsel, Regulatory Affairs | Oct 2016–present | Led regulatory affairs; institutionalized compliance frameworks . |
| Onity Group Inc. | Legal/Compliance | Feb 2013–Oct 2016 | Built internal compliance capability; supported consumer finance regulatory posture . |
| GMAC Mortgage, LLC | In-house Regulatory Compliance Counsel | Prior to Feb 2013 | Strengthened mortgage regulatory compliance program . |
| Private Practice | Attorney (financial services) | ~6 years | Represented regional banks and financials; litigation/advisory on regulatory matters . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external directorships or committee roles disclosed in 2025 proxy. Evans is Executive Sponsor of GROW (Onity’s women’s affinity group) . |
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Base salary | Not disclosed | Evans is an executive officer but not a Named Executive Officer (NEO); proxy reports fixed pay only for NEOs . |
| Target bonus (AIP) | Not disclosed | AIP design applies enterprise-wide; individual targets for non-NEOs not disclosed . |
| Actual bonus paid | Not disclosed | Corporate funding outcomes disclosed; individual awards for non-NEOs not disclosed . |
Performance Compensation
Annual Incentive Plan (AIP) – 2024 Corporate Scorecard and Funding
| Metric (Objective) | Weight | Threshold | Target | Maximum | Actual | Performance Achievement | Weighted Achievement |
|---|---|---|---|---|---|---|---|
| GAAP Net Income ($M) | 25% | -11.8 | 1.7 | 11.7 | 33.4 | 150% | 38% |
| Adjusted Pre-Tax ROE (%) | 25% | 8.5 | 11.6 | 13.7 | 20.0 | 150% | 38% |
| Servicing Efficiency Ratio (%) | 8% | 32.4 | 30.8 | 29.3 | 28.9 | 150% | 12% |
| Originations Efficiency Ratio (%) | 2% | 72.8 | 69.3 | 65.8 | 57.4 | 150% | 3% |
| Corporate Functions Adjusted OpEx ($M) | 5% | 136 | 130 | 124 | 134 | 67% | 3% |
| Gross Recapture Rate (%) | 6.5% | 4.0 | 5.6 | 8.0 | 8.0 | 150% | 10% |
| Originations Cash Yield vs CoC (%) | 6.5% | 0.00 | 0.27 | 0.53 | 0.68 | 150% | 10% |
| MSR Growth – gross additions ($B UPB) | 4% | 22.1 | 24.5 | 26.9 | 40.6 | 150% | 6% |
| Subservicing Growth – gross additions ($B UPB) | 4% | 54.9 | 68.7 | 82.4 | 44.9 | — | — |
| Servicing EOY Total UPB ($B) | 4% | 297.8 | 315.5 | 332.5 | 301.7 | 61% | 2% |
| Employee Engagement (pp vs 2023) | 5% | -12 | +/-8 | 12 | 1.0 | 100% | 5% |
| Equal Opportunity & Inclusion (% objectives met) | 5% | 80 | 90 | 100 | 100 | 150% | 8% |
| Total Corporate Scorecard Funding | 100% | — | — | — | — | — | 134% |
| Service Excellence Modifier | — | 80% | 100% | 120% | — | — | 107% |
| Total AIP Funding (Corporate × Modifier) | — | — | — | — | — | — | 143% |
Notes:
- Scorecard metrics were amended to reflect accretive strategic transactions (debt restructuring, MAV sale, Waterfall reverse asset acquisition) during 2024; achievement levels for net income and corporate OpEx increased accordingly .
- Individual awards also subject to a Net Income modifier and an individual performance multiplier; plan caps at 200% of target; AIP includes a ±20% service excellence adjustment .
Long-Term Incentive Program (LTIP) – Structure and Vesting
| Element | Design | Vesting | Performance Calibration |
|---|---|---|---|
| RSUs (time-based) | 50% of LTIP value | 3-year ratable annual vesting | Subject to one-year post-vesting holding requirement . |
| PRSUs (performance-based) | 50% of LTIP value | 3-year cliff vesting | Based on relative Total Shareholder Return (TSR) vs defined performance peer group; double-trigger only on change-in-control (no single-trigger vest) . |
Equity Ownership & Alignment
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Hedging/pledging/margin activity prohibited for all directors, officers, and employees; short sales and derivatives (puts/calls) on Company stock are prohibited .
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Clawback policy adopted November 10, 2023; compliant with SEC/Dodd-Frank and NYSE rules; applies in addition to plan-level recoupment rights .
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One-year holding requirement on shares acquired from executive equity awards since March 31, 2022 .
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Beneficial ownership snapshot (aggregate group including Evans):
Metric FY2024 FY2025 Shares held (aggregate for Evans, Grunenwald, Peach, Samarias, Wade) 19,484 27,037 Options presently exercisable (aggregate for same group) 728 Not separately disclosed -
No shares pledged by named executive officers or directors; applies Company-wide per beneficial ownership footnote .
Employment Terms
- At-will employment; no fixed-term employment agreements with executive officers; separation treatment governed by award documents or offer letters .
- Severance Plan (U.S. Basic): lump sum equal to 18× monthly base salary; subsidized COBRA premiums up to 18 months for eligible involuntary terminations .
- Change-in-Control (CIC) Plan: double-trigger; lump sum equal to 24× monthly base salary plus prorated AIP target for year of termination; subsidized COBRA premiums up to 24 months .
- Restrictive covenants: intellectual property and non-disclosure agreements required; Company indicates use of non-compete and non-solicit provisions in separation agreements and certain equity awards (case-by-case) .
Investment Implications
- Alignment signals: TSR-linked PRSUs, 3-year vesting and post-vest holding, robust clawback, and prohibition on hedging/pledging suggest strong long-term alignment and reduced volatility from executive trading activity .
- AIP is heavily weighted to profitability (GAAP net income, ROE) and operational efficiency, with 2024 outcomes at 143% funding, indicating high variable pay sensitivity to performance delivery; for risk/compliance leadership, this ties incentives to enterprise outcomes rather than volume-driven metrics alone, potentially strengthening risk discipline while supporting growth .
- Retention/exit economics: standard severance and CIC terms provide predictable cash outcomes, with double-trigger equity acceleration, limiting single-trigger windfalls; lack of disclosed individual equity/compensation detail for Evans (non-NEO) reduces precision in assessing her personal selling pressure or ownership guideline compliance, but group beneficial holdings rose YoY, and Company policy bars pledging/hedging .
- Governance backdrop: Say-on-Pay support at 86.5% in 2024 and use of an independent comp consultant (WTW) alongside a defined peer set mitigate pay inflation risk and suggest ongoing shareholder-aligned design evolution .