Fannie Mae recently announced it appointed J. Douglas Watt as its new senior vice president and chief audit executive. Watt will begin in this role on July 11.
“Doug’s deep background in internal audit, audit risk assessment, and regulatory reform matters will contribute greatly to Fannie Mae’s strong culture of corporate governance and rigorous internal controls,” said Egbert Perry, Fannie Mae chairman of the board.
Previously, Watt worked at GE Capital Corporation where he served as managing director and audit executive for the Americas. In addition, he was also a member of the company’s senior audit leadership team and a member of several key GE Capital Americas management committees such as Operational Risk Management, Enterprise Risk Management, Credit Risk and Compliance.
“Doug has significant audit experience and he will be a great addition to our leadership team,” said Timothy Mayopoulos, Fannie Mae president and CEO.
“Doug joins us at a time of important change for the company and his experience will be highly valuable as we continue to improve our company and create a strong, sustainable housing finance system,” Mayopoulos said.
Overall, Watt has 35 years of audit experience. Prior to GE Capital, Watt served as vice president of corporate audit services at Capital One Financial, where he was responsible for retail and commercial bank audit programs.
Before that, he was partner in the banking and capital markets practice at PricewaterhouseCoopers, where he provided assurance and consulting services to an array of commercial and retail banks, reserve banks, broker dealers, trust and asset management entities.
“I look forward to working with the Board of Directors and the management team to ensure a safe and sustainable housing finance system in this country,” Watt said.
Watt is also a certified public accountant, member of the American Institute of Certified Public Accountants and board member and audit committee chair for Homes with Hope of Westport, Connecticut.