Fannie Hires Chief Internal Auditor

Fannie Mae has announced the hiring of S. Jean Hinrichs, who will join the mortgage giant in July as its chief internal auditor.Ms. Hinrichs, whose title will be senior vice president for internal audit, will be charged with conducting a risk assessment and then developing and executing a comprehensive audit program, Fannie Mae said. She will also be responsible for dealing with the outside auditor, Deloitte & Touche LLP, and the company's safety-and-soundness regulator, the Office of Federal Housing Enterprise Oversight. "A sound and effective internal audit function will ensure that internal audit activity is compliant with all professional and ethical standards as the company moves through the reaudit and restatement process," said Fannie Mae chairman Stephen B. Ashley. Ms. Hinrichs established a global internal audit function at Barclays Global Investors, San Francisco, where she was employed from 1997 to 2004, Fannie Mae said. She was previously vice president and general auditor of the Federal Reserve Bank of San Francisco. Fannie Mae can be found online at http://www.fanniemae.com.