; (8) delegate to the Chief Executive Officer those duties that the Board of Directors determines to be appropriate, to better carry out the powers and purposes of the Board of Directors under this section; and (9) to approve a maximum aggregate amount of principal exposure of IFA at any given time. 105. Senior management (a) In general Senior management shall support the Chief Executive Officer in the discharge of the responsibilities of the Chief Executive Officer. (b) Appointment of senior management The Chief Executive Officer shall appoint such senior managers as are necessary to carry out the purposes of IFA, as approved by a majority vote of the voting members of the Board of Directors, including a chief compliance officer, general counsel, chief operating officer, chief lending officer, and other positions as determined to be appropriate by the Chief Executive Officer and the Board of Directors. (c) Term Each member of senior management shall serve at the pleasure of the Chief Executive Officer and the Board of Directors. (d) Removal of senior management Any member of senior management may be removed— (1) by a majority of the voting members of the Board of Directors at the request of the Chief Executive Officer; or (2) by a vote of not fewer than 5 voting members of the Board of Directors. (e) Senior management (1) In general Each member of senior management shall report directly to the Chief Executive Officer, other than the chief risk officer, who shall report directly to the Board of Directors. (2) Chief risk officer The chief risk officer shall be responsible for all functions of IFA relating to— (A) the creation of financial, credit, and operational risk management guidelines and policies; (B) the establishment of guidelines to ensure diversification of lending activities by region, infrastructure project type, and project size; (C) the creation of conforming standards for infrastructure finance agreements; (D) the monitoring of the financial, credit, and operational exposure of IFA