; (B) not fewer than 2 shall be representatives of the labor community, except that no 2 members may be from the same labor union; (C) not fewer than 2 shall be representatives of the environmental nongovernmental organization community, except that no 2 members may be from the same environmental organization; (D) not fewer than 2 shall be representatives of the environmental justice nongovernmental organization community, except that no 2 members may be from the same environmental organization; and (E) not fewer than 2 shall be representatives of the consumer protection and fair lending community, except that no 2 members may be from the same consumer protection or fair lending organization. (3) Meetings The advisory committee shall meet not less frequently than once each quarter. (4) Duties The advisory committee shall— (A) advise the Bank on the programs undertaken by the Bank; and (B) submit to Congress an annual report with comments from the advisory committee on the extent to which the Bank is meeting the mandate described in section 5245C, including any suggestions for improvement. (k) Chief risk officer (1) Appointment Subject to the approval of the Board, the Chief Executive Officer shall appoint a Chief Risk Officer from among individuals with experience at a senior level in financial risk management, who— (A) shall report directly to the Board; and (B) shall be removable only by a majority vote of the Board. (2) Duties The Chief Risk Officer, in coordination with the audit and risk management committees established under section 5245K, shall develop, implement, and manage a comprehensive process for identifying, assessing, monitoring, and limiting risks to the Bank, including the overall portfolio diversification of the Bank. 5245J. Administration (a) Capitalization (1) In general The Bank shall be capitalized— (A) with $10,000,000,000 on the date on which the Bank is established under section 5245B