Full-Time

Senior Internal Auditor

ERM and C&E, Flexible Hybrid

Posted on 9/29/2024

Fannie Mae

Fannie Mae

10,001+ employees

Facilitates mortgage financing and liquidity

No salary listed

Junior

Washington, DC, USA

Flexible hybrid work model.

Category
Risk & Compliance
Legal & Compliance
Requirements
  • 2 years relevant experience
  • CIA, CPA, CISA certification strongly preferred or in the processes of obtaining.
  • Must be knowledgeable of the audit life cycle, including planning, design assessment, operating effectiveness testing, reporting, and issue monitoring.
  • Skilled in the Microsoft Office Suite.
Responsibilities
  • Assist with audit planning and drafting initial audit scope. Document details of planning and walkthrough meetings. Assist in identifying controls to mitigate potential risk factors within assigned process/areas. Contribute to the development and maintenance of risk-based audit plans. Develop, document and execute audit test steps in partnership with more senior team members.
  • Assist in evaluating controls and in identifying control gaps. Conduct substantive testing, such as tests of detailed activities and transactions or analytical review tests.
  • Document and maintain sufficient supporting information (such as flowcharts of end-to-end business processes) and facilitate the presentation of findings and conclusions in accordance with work paper standards. Identify and discuss audit findings with audit team and document exceptions. Assist with drafting audit reports and other key deliverables.
  • Assist in coaching more junior team members on projects to help with their development.

Fannie Mae operates in the U.S. housing finance market, focusing on making housing more affordable for homeowners, homebuyers, and renters. The company achieves this by purchasing mortgages from lenders, which provides these lenders with the cash flow needed to offer more loans. Fannie Mae's business model includes holding some of these mortgages in its portfolio and packaging others into mortgage-backed securities (MBS) that are sold to investors. This process helps to spread financial risk and ensures a steady flow of capital into the housing market, promoting homeownership and rental opportunities. Unlike its competitors, Fannie Mae plays a vital role in maintaining the stability of the housing market by providing a reliable secondary market for mortgages. The company's goal is to facilitate access to affordable housing while also engaging in community service and promoting diversity and inclusion within its workforce.

Company Size

10,001+

Company Stage

IPO

Headquarters

Washington, District of Columbia

Founded

1938

Simplify Jobs

Simplify's Take

What believers are saying

  • Lower mortgage rates in 2025 and 2026 could boost home sales and Fannie Mae's business.
  • Integration of AI in underwriting can enhance risk assessment and streamline operations.
  • The rise of green mortgages offers Fannie Mae opportunities in sustainable housing financing.

What critics are saying

  • Recent layoffs due to unethical conduct may indicate deeper organizational issues.
  • Fraud-related credit losses suggest vulnerabilities in Fannie Mae's risk management practices.
  • Technological risks may arise from new integrations like the Loan Pricing API.

What makes Fannie Mae unique

  • Fannie Mae is a cornerstone of the U.S. housing finance system for over 85 years.
  • It provides liquidity to lenders by purchasing mortgages and issuing mortgage-backed securities.
  • Fannie Mae is recognized for its commitment to diversity and inclusion in the workplace.

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Benefits

Flexible Work Hours

Company News

Inman
Apr 8th, 2025
Fannie Mae lays off 100 workers citing unethical conduct

Fannie Mae lays off 100 workers citing unethical conduct.

HousingWire
Apr 7th, 2025
Florida home prices drop on rising inventory, but sales haven't followed suit

Reports suggest that 700 people were laid off at Fannie Mae last Thursday and Friday, but no official announcements have been issued.

PR Newswire
Mar 28th, 2025
Fannie Mae Releases February 2025 Monthly Summary

WASHINGTON, March 28, 2025 /PRNewswire/ -- Fannie Mae's (OTCQB: FNMA) February 2025 Monthly Summary is now available. The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, and serious delinquency rates.Follow Fannie Maefanniemae.comFannie Mae Newsroomhttps://www.fanniemae.com/newsroomPhoto of Fannie Maehttps://www.fanniemae.com/resources/img/about-fm/fm-building.tifFannie Mae Resource Center1-800-2FANNIESOURCE Fannie Mae

PR Newswire
Mar 28th, 2025
Mortgage Rates Expected To Move Lower In 2025 And 2026

Existing Home Sales Forecast Upgraded Slightly on Lower Rate OutlookWASHINGTON, March 28, 2025 /PRNewswire/ -- Mortgage rates are now expected to end 2025 and 2026 at 6.3 percent and 6.2 percent, respectively, downward revisions of three-tenths for each, according to the March 2025 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The lower mortgage rate outlook resulted in a small upward revision to the ESR Group's existing home sales outlook in 2025, though expectations for total home sales remain subdued. On a Q4/Q4 basis, real gross domestic product (GDP) is now expected to be 1.7 percent in 2025 and 2.1 percent in 2026, modest downward revisions owing to weaker incoming data and greater clarity on trade policy."We expect the recent pullback in mortgage rates will provide a small boost to home sales this year," said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. "While our latest forecast calls for a period of modestly slower economic growth, historically, interest rates have been the most important driver of home sales. We think mortgage rates will move even lower within the next quarter and ultimately close the year at approximately 6.3 percent, which could be low enough to generate some extra sales from any would-be buyers still waiting on the sidelines."Visit the Economic and Strategic Research site at fanniemae.com to read the full March 2025 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast. To receive e-mail updates with other housing market research from Fannie Mae's Economic and Strategic Research Group, please click here.Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae's Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice

Cloud Maestro
Mar 20th, 2025
ServiceMac Named a Fannie Mae 2024 STAR(TM) Performer Award Winner

ServiceMac, a leading innovator in mortgage subservicing and a member of the First American family of companies, today announced the company earned Fannie Mae's 2024 Servicer Total Achievement and Rewards(TM) (STAR(TM) Performer award in both the General Servicing and Solution Delivery categories.

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