Patricia E. Black is Fannie Mae's Senior Vice President and Chief Audit Executive. Reporting directly to the Chair of the Audit Committee of the Board of Directors, with a dotted line reporting relationship to the President and Chief Executive Officer, she has responsibility for all internal audit activities. In this capacity, Ms. Black provides independent, objective assurance of internal controls and operational processes and is responsible for the continuous improvement of the Internal Audit function's long-term strategy.
Previously, Ms. Black was Fannie Mae's Vice President for Internal Audit – Single-Family/Housing and Community Development (HCD) & Operations. In this role, she had leadership responsibility and accountability for directing the Single-Family/HCD & Operations audit team to provide audit and advisory services to Fannie Mae's Single-Family, HCD, and Operations functions. She also was responsible for ensuring professional standards of documentation and controls within those areas and providing independent, objective assurance of operational, financial, compliance, and information technology controls. Ms. Black also led Fannie Mae's Sarbanes-Oxley (SOX) 404 program.
Earlier in her Fannie Mae career, Ms. Black was Vice President for Financial Controls, responsible for leading Fannie Mae's SOX 404 program which oversees the implementation of the SOX internal control reporting requirements. In addition, Ms. Black was responsible for business process analysis of new products and initiatives for the Controller's group and supported the redesign of the company's financial reporting processes and controls.
Before joining Fannie Mae, Ms. Black was Senior Manager of Financial Services at BearingPoint, Inc., where she managed and developed consulting projects for financial services companies, with a concentration in lending. Representative clients were leading originators, servicers, investment banks, and Government Sponsored Enterprises (GSEs).
Ms. Black has a master of business administration from the University of Maryland and a bachelor of science in commerce from the University of Virginia. She is a Certified Internal Auditor.