Watt’s 35 years of audit experience include most recently serving as a member of GE Capital’s senior audit leadership team and a member of several key GE Capital Americas management committees, including Operational Risk Management, Enterprise Risk Management, Credit Risk, and Compliance. At GE Capital, Watt was responsible for overseeing the internal auditing of GE Capital’s North American Commercial Lending and Leading businesses and helping with leading the audit function’s critical regulatory initiatives.
“Doug has significant audit experience and he will be a great addition to our leadership team. 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,” said Timothy J. Mayopoulos, president and CEO at Fannie Mae.
Watt’s positions prior to GE Capital include serving as VP of corporate audit services at Capital One Financial (leading retail bank and commercial bank audit programs); partner in the banking and capital markets with Pricewaterhouse Coopers LLP.
“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 L.J. Perry, chairman of the Board at Fannie Mae.
According to Watt, “Fannie Mae is a critically important company that plays an essential role in ensuring that eligible borrowers have access to good mortgage financing so they can buy or rent a home. Fannie Mae is at the center of the housing finance system and I am thrilled to join this great company. 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.”