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Fannie Mae Appoints New Chief Audit Executive

Doug Watt cropped

Doug Watt

Fannie Mae has appointed J. Douglas Watt as SVP and chief audit executive effective July 11, according to an announcement from Fannie Mae earlier this week.

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.”

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

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