J. Douglas Watt has joined Fannie Mae as senior vice president and chief audit executive, effective July 11.
Watt previously worked for GE Capital Corp., where he was managing director and audit executive for the Americas. He also was 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, according to a release.
Watt has 35 years of audit experience, including overseeing the internal auditing of GE Capital’s North American commercial lending and leasing businesses, the largest GE Capital business segment, and helping to lead the audit function’s regulatory initiatives.
Prior to GE Capital, Watt served as vice president, corporate audit services at Capital One Financial, where he led retail bank and commercial bank audit programs. Prior to joining Capital One Financial, he was a partner in the banking and capital markets practice at PricewaterhouseCoopers LLP, where he provided assurance and consulting services to a broad array of commercial and retail banks, reserve banks, broker dealers, trust and asset management entities.
In a statement, Egbert L.J. Perry, chairman of the board at Fannie Mae, says Watt’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.”