Chief Operating Officer, Cassidy Rasnick
Cassidy Rasnick brings nearly 2 decades of experience in public service, working with diverse, cross-functional teams at the intersection of policy, strategy, and operations. Most recently, Rasnick worked at the U.S. Department of Commerce, where she managed a multi-billion-dollar portfolio of infrastructure and digital equity grants, partnering with the Commonwealth to build and implement a plan to build broadband to every unserved home and business.
Prior to joining the U.S. Department of Commerce, Cass served as Virginia's Deputy Secretary of Commerce and Trade, where she advised Governor Northam on housing policy and programs, economic and community development, entrepreneurship, international trade, rural development, broadband deployment, small business assistance, and tourism strategies. She was a key part of the team that led Virginia to be named Best State for Business by CNBC 2019-2021, and that won Amazon's HQ2 for the Commonwealth. She also helped to establish and served as the first ever Director of the Virginia Office of Outdoor Recreation. Rasnick also served as Deputy Secretary of Agriculture and Forestry to Governor McAuliffe, and as head of the economic development team at the state's Department of Agriculture. Before joining the Governor's Office, she worked on public policy for the Virginia Manufacturers Association and the Virginia Craft Brewers Guild, and spent more than five years working for United States Senator Mark Warner. A native of Botetourt County, Rasnick is a graduate of James Madison University, the Virginia Executive Institute, and the Sorensen Institute for Political Leadership at the University of Virginia. She serves on the Commission on Electric Utility Regulation and on the Board of Directors at Rebuilding Together Richmond.
Senior Advisor Peter Mahoney
Peter Mahoney is DHCD's Senior Advisor. A seasoned executive with deep and broad legal, financial services and capital markets experience, he chose to step away in 2025 after a 13-year run at Truist Financial Corporation and its predecessor, SunTrust. From 2023 through 2024, he served as Chief Program Executive, tapped by Truist’s Chair and CEO as a direct report and member of the Operating Council, leading a bank-wide program to enhance capital and liquidity management capabilities, as well as risk management programs, with specific focus on operational, technology and cybersecurity issues. From 2019 through early 2023, Mahoney served as Senior Deputy General Counsel for Regulatory, Consumer and Commercial Banking. He led Truist’s response to the Silicon Valley Bank crisis in 2023, representing Truist in the cross-industry coalition engaging with the Treasury and White House. He was a lead lawyer during the COVID-19 crisis, leading the company’s successful Paycheck Protection Program (PPP), consulting with administration leaders on program design and spearheading Truist’s $13 Billion PPP lending efforts in collaboration with a broad, cross-enterprise team of business and operation teammates. He played a leading role in the merger of SunTrust and BB&T, including the regulatory application and public hearings process and the negotiation of a path-breaking $60 Billion Community Benefits Plan with a coalition of consumer advocates.
Mahoney is a close advisor to Truist’s management and Board of Directors on public affairs, regulatory policy and prudential and consumer protection supervisory matters. He has supported numerous interactions with members of Congress, including preparing testimony and responses for House and Senate hearings involving Truist’s CEO. He also served on the Board of Truist Insurance Holdings and was a key legal and strategic advisor in Truist’s 2023 and 2024 transactions resulting in the $15 Billion disposition of TIH to a private equity group.
From 2012 to 2019, Mahoney served numerous roles at SunTrust Bank, including as Chief Regulatory & Compliance Officer, responsible for enterprise-wide Compliance, Anti-Money Laundering and Community Reinvestment Act programs, and managing supervisory relationships with Federal and state supervisory and enforcement agencies, leading a team of more than 400 professionals. He also managed SunTrust’s mortgage capital markets function, where he negotiated settlements with the U.S. Department of Justice and states attorney general relating to mortgage foreclosures during the Great Financial Crisis, and managed disposition of non-performing balance-sheet mortgage loans and servicing contracts with government-sponsored enterprises, bringing the mortgage business back to profitability within three years. He led large and successful teams in each of these roles and engaged heavily with Wall Street investment banks, rating agencies and other capital markets participants.
During a 16-year prior career at Freddie Mac, Mahoney served as Deputy General Counsel for legislative & regulatory affairs. In 2003, in the wake of a significant accounting restatement, he was tapped by the Board of Freddie Mac to serve as the head of Investor Relations, managing relationships with shareholders and rating agencies, as well as sovereign and other holders of Freddie Mac debt instruments, while also serving on the firm’s disclosure committee. In this role, he traveled the world meeting with central banks, private investors and investment banking entities, and managed all public disclosures to shareholders.
Peter graduated from the University of Virginia (B.A. with High Distinction) and the University of Virginia School of Law. He is a member of the New York and Virginia bars and a Fellow of the American Bar Foundation. He serves on numerous non-profit boards, including as chair of the Audit and Finance Committee of the UVA Foundation, a non-profit serving as the real-estate development and management arm for the University of Virginia, managing more than $500 million in assets. He also chairs the Finance and Facilities Committees of the Greater Richmond YMCA Board of Directors and previously was a member of the executive committee of the Board of Trustees of Collegiate School in Richmond (2016-2024). He lives in Richmond with his wife, Mimi, a nurse navigator at VCU Health Systems, with whom he is the proud parent of six children.
