Kimberly H. Johnson is Fannie Mae's Executive Vice President and Chief Operating Officer (COO), reporting to the President. (To listen to an unabridged podcast version of this interview, please click this link. However, over the last decade, we have increased our focus on cyber and information security, and we have been looking extensively at our data and operational risk. Roughly six months into your role, could you talk about your strategy and some of what you and your team are working on? Peter Highis President ofMetis Strategy, abusinessand IT advisory firm. These responsibilities facilitated my jumps to CCO, CRO, and now COO. Kimberly Johnson Net Worth (2022) | wallmine Few could resist such a pay hike. In Fannies case, that meant appointing a separate person to take on the role of president. In that same interview with Forbes, Johnson reflected on her rare position of leadership and what it said about womens ability to lead a major company. Then, when Benson had been in the position less than seven weeks, the board approved an 11 percent pay raise, which the FHFA approved in October. Her varied and diverse experiences have aided her rise, and now that she has such a broad set of responsibilities, she has a broad ability to impact innovation within the company. In many ways, innovation is about risk-taking and determining what your risk tolerance is. This allowed us the opportunity to use some great analytics methods to determine what we believed were the correct valuations for homes. The Administration is committed to housing finance policy that expands fair and equitable access to homeownership and affordable rental opportunities, protects taxpayers, and promotes financial stability.. One Negative Chatbot Experience Drives Away 30% Of Customers, New Funding For Quantum Computing Accelerates Worldwide, World Class IT: Why Businesses Succeed When IT Triumphs. Johnson, who also serves as executive vice president, has held her current positions since March 2018. Between Kimberly Johnson ("You") and Fannie Mae. Ultimately, it all comes back to people as everything we do is done through people. This needs to stop now.. This mix serves as a nice way to string together the full array of the functionality that we need to enable the business. VP & Chief Admin. As the Chief Operating Officer and Executive Vice President of Federal National Mortgage Association, the total compensation of Kimberly Johnson at Federal National Mortgage Association is $2,373,250. Under conservatorship, the GSEs are certainly a moneymaker for the Treasury, but they also allow the federal government to effectively control the housing market. Could you talk about your role as the Chief Operating Officer of Fannie Mae and the responsibilities the position entails? The structure gives the FHFA the power of management, boards and shareholders at the two enterprises. Shaw. When developed in combination with a medicinal asset, digital therapeutics enable significant market differentiation and significant benefits for stakeholdersfrom optimizing patient outcomes to supporting more efficient generation of compelling real-world data Specifically, this information depends on the quality and the timeliness of the data. The position given to me specifically was designed to spark innovation efforts. "I am confident that with her deep experience and strategic vision, Kimberly will quickly become an integral part of our leadership team.". Many of the departures have been in the single-family business. The reports paint a picture of the Fannie and Freddie boards using CEO succession plans to divert many of the chief executives responsibilities to a president, whose compensation technically does not fall under the congressional cap. Digitization is going to drive where the mortgage market goes, and because we are principally an insurance company, there is an extensive amount of data-dependent information that we can gather. Columbia Business School. Kimberly Johnson's Path From Chief Credit Officer To Chief Operating Officer Of Fannie Mae More From Forbes Feb 24, 2023,09:00am EST The Promise And Future Of Startup Nation Feb 21,. T. Rowe Price Names Kimberly Johnson Chief Operating Officer Was there a predecessor with this same job description, or were these a set of responsibilities that was brought together for the first time in the role created for you? Johnson will report to Rob Sharps, CEO and president, and will serve on the Management Committee. DL Hughley headlines Janssen's multiple myeloma campaign to drive better outcomes for the Black community. She now serves on the board of directors for her alma mater, St. Marys College, and PennyMac Mortgage Investment Trust appointed Schultz to its board of trustees in May. Because of this, our focus going forward will be on using those capabilities to further our future business model. Required fields are marked *. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Given how high inflation is right now, why arent mortgage rates even higher? In that case, Lucentis should be given intravitreally every four weeks and Eylea should be given intravitreally every four or eight weeks after three monthly injections. Many people wonder how it is possible to make the leap from CRO to COO because of all the technology aspects that come with it. Compensation Information for , of FEDERAL NATIONAL MORTGA ASSN - Salary.com Federal National Mortgage Association executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Follow himon Twitter@PeterAHigh. High: How does your organization get involved in the innovation within the company? What advantages has this variety of roles provided you? leading technology, data, enterprise models, operations, the enterprise program management office, and resiliency. Prior to that time, Ms. Johnson was responsible for Metrics and Reporting for the Making Home Affordable Program from March 2009 to September 2009. Instead, innovation must be a major part of the companys fabric. In that role, she is responsible for . Does it go far enough? Fannie Mae. Kimberly Johnson is executive vice president and chief operating officer of Fannie Mae, the Federal National Mortgage Association. Merz has previously enlisted singer-songwriters Joe Jonas and Teyana Taylor, 33 and 31 years old respectively, who tout the anti-wrinkle injection as a solution for frown lines without any unnecessary ingredients.. In March of this year, Kimberly Johnson was promoted from Chief Risk Officer to Executive Vice President and Chief Operating Officer of Fannie Mae. Do you have a leader over the disciplines that you mentioned, or do most people span a diverse array of topics the way you do? High: You have been with Fannie Mae for roughly twelve years, and you had held a great variety of responsibilities throughout your tenure. Henry Cason, who spent more than 27 years at Fannie Mae and was most recently the head of digital products, departed in January to become CEO of St. Louis-based personal finance startup FinLocker. According to an undated letter from CEO Douglas Boothe that was posted by the Illinois news site Herald & Review, Akorn started the process last year to sell the company but did not receive a bid. Ms. Johnson is responsible for leading technology, data, enterprise models, operations, the enterprise program management office, and resiliency. We have a great deal of activity going on in terms of modifying our digital strategy, and we wanted to make sure that we put together all the necessary pieces to accelerate those efforts. Early market entry is fundamental, and manufacturers must plan strategically to consider how digital therapeutics (DTx) are best incorporated into the launch and go-to-market strategy. PennyMac Mortgage Investment Trustappointed Schultz to its board of trustees in May 2021. Furthermore, it is about involving all aspects of the industry, from the largest bank to the smallest independent, and you have to make sure that what you are doing is a strong fit for everyone. Because of this responsibility, many of our innovation efforts target reducing risk and costs to ensure more resilient operations overall. Former Fannie Mae CEO and President Timothy Mayopoulos, who left in October, notified FHFA executives early last year of his plan to step down by the end of 2018, prompting Watt to raise the need for succession planning with the chairman of Fannies board of directors, according to the IG report on oversight of Fannie. Nearly all of the recently departed executives have been quickly scooped up by financial services, fintech and mortgage firms. Got it! If companies can figure out how to connect the people to the work, all sorts of avenues will open up., Digital therapeutics support increased access to safe and effective therapies, providing an untapped opportunity for biopharmaceutical companies to maximize the value of medicinal assets and drive differentiation With the roles that are seen as non-traditionally female-oriented, it does not have to be male or female characteristics that define how we do our jobs. Hemolytic Anemia Sales Specialist, Rare Genetic Diseases, Eli Lilly adds new board member Kimberly Johnson, the COO who helped lead Fannie Mae out of the US housing crisis, Digital therapeutics: The key to maximizing the potential of medicinal assets, Harder to find homes: Latest wave of biotech layoffs could test the industry, Q&A with Christine Baeder, new chair of the generic industrys AAM, Merz Aesthetics hands the mic to Christina Aguilera in Botox rival campaign, J&Js Janssen calls on comedian to underscore multiple myeloma inequities in the Black community, Akorn Pharmaceuticals files for bankruptcy, closes facilities and will liquidate, FDA issues new guidance on wet AMD drug development, Walgreens decides against distributing abortion pill in some states report, Real Chemistry intends to sync doctor and patient marketing with physician-focused agency acquisition. The company then announced this month that Layton would step down July 1, when Brickman would become the next CEO. There are 8 executives at Federal National Mortgage Association getting paid more, with Kimberly H. Johnson having the highest compensation of $3,806,712. Rocket has a plan to drastically cut costs. Officer of Federal National Mortgage Association, the total compensation of Mr Hayward at Federal National Mortgage Association is $2,778,141. People were arguing that if we start now and get the women out of college, that in twenty years we are going to have a fantastic array of women within the industry. Opinions expressed by Forbes Contributors are their own. While patients were previously required to obtain mifepristone a pill used in combination with another medicine to end early pregnancies in a medical setting, the FDA issued a policy change in January allowing certified pharmacies to distribute it. All rights reserved. At Fannie Mae, everything we do is embedded with a customer perspective. She also led Fannie Mae's digital transformation, establishing a four-year enterprise modernization plan and an operational roadmap for redesigning business processes and reengineering core technology. Coming out of the housing crisis we put an emphasis on managing our credit and market risk, all of which are consistently important. These events are specifically designed to encourage people from across the company to brainstorm new ideas and bring innovative opportunities forward. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. We recently launched a digital operating model with our partners in our single-family business, which represents a terrific way of doing software development. executive vice president and chief operating officer. Johnson: At Fannie Mae, everything we do is embedded with a customer perspective. Upon your execution of this Retention Award Agreement ("Agreement . What ChatGPT And Generative AI Mean For Your Business? You can find fantastic women at all stages in the non-traditional female roles in technology and risk. Others may have been motivated by wanting to finish long-term projects, such as the development of a platform that allows the GSEs to issue a single mortgage-backed security. The Enterprises continue to attract the most experienced mortgage executives in the industry and their attrition rate for all employees is low, a spokesperson for the FHFA said. Johnson: Variety has been a major theme of my career as my path has seen many shifts. I learned this at multiple places, including the derivative space, hedge funds, investment banks, and even in risk. Kimberly Johnson's Post Kimberly Johnson Chief Operating Officer at T. Rowe Price 11mo Report this post . Fannie Mae also holds activities, such as innovation days and hackathons. Real Chemistry is adding a healthcare professional data and analytics company to its lineup. 313 Jobs. Prior to her 15-year stint at Fannie, Johnson worked for nearly six years as a director of fixed income sales at Credit Suisse and before as an equity trader at D.E. She discussed her path from Chief Risk Officer to COO in. Fannie Mae video | re:Invent 2021 | AWS John Forlines, most recently Fannie Maes chief risk officer, and Noelle Lipscomb, Fannie Maes internal audit vice president, also left the mortgage giant in 2021 to join Home Point Capital. Generating more accessibility to homeownership, creating better living communities, and ensuring that the entire ecosystem is functioning better are superior games to win than just being successful and pumping out more mortgage-backed securities..