X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-In an effort to make good on its promise to cooperate with the Office of Federal Housing Enterprise Oversight on restructuring its financial leadership, Fannie Mae has brought in nine new officers to its finance division. The move is intended to reorganize and reinforce internal accounting practices following last year’s discovery that the mortgage lender had been operating in violation of certain federal accounting regulations.

The new team consists of both new and pre-existing positions, and the new executives in those positions bring with them histories as experts in the finance and accounting worlds. America Online Inc.’s R. Scott Blackley will take on the role of senior vice president for accounting policy, while Mary B. Doyle will return to her old stomping grounds as senior vice president for financial controls and systems, after having left Fannie Mae for a stint at Sallie Mae. And PricewaterhouseCoopers LLP alums Gregory H. Kozich and Paul A. Noring come aboard as senior vice presidents for accounting and finance, respectively.

The five remaining hires take on the roles of vice president. Formerly of SunTrust, James Kelly Ardrey Jr. will be in assets accounting; BearingPoint Inc. alum Patricia Black will be in financial controls; and Select Portfolio Servicing Inc.’s Nigel D. Brazier will serve as business unit controller. Finally, James W. Horne, previously of BearingPoint Inc. joins Fannie Mae in accounting systems, while former Del Monte Foods Co. executive Nicholas Radesca will operate in financial reporting.

“This is the first phase of implementing a very significant reorganization, which the board has approved,” says H. Patrick Swygert, Fannie Mae board member. “Reorganizing and strengthening our finance area is a top priority as we progress through the review, re-audit and restatement process. We are addressing departmental roles and responsibilities, lines of reporting, segregation of duties, and independence and alignment of functions.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.