Kimberly H. Johnson is Fannie Mae's Executive Vice President and Chief Operating Officer (COO), reporting to the President. Swoop gets the HCP complement to its DTC marketing and together can offer a full suite to biopharmas that includes both physician and patient programmatic targeting. Bioscience & Technology Business CenterThe University of KansasLawrence, Kansas. While we have had COOs at Fannie Mae, this was a different configuration of responsibilities. These responsibilities facilitated my jumps to CCO, CRO, and now COO. Renee Schultz, Fannie Maes senior vice president of capital markets, left Fannie Mae in April after 22 years at the firm. Besides the compensation limits which cap base salary at $600,000 executives may be looking for the exits simply to escape working under conservatorship. Taking energy efficiency and lowering the costs for borrowers means that their all-in housing costs are lower. T. Rowe Price has announced it is read more company news. While drugmakers arent required to follow the FDAs recommendations, the eight-page draft guidance includes the agencys thoughts on trial design, eligibility criteria and efficacy endpoints. Kimberly Johnson is 47, she's been the Chief Operating Officer and Executive Vice President of Federal National Mortgage Association since 2018. Working at the center of the housing markets collapse and helping the rebuild gave Johnson a unique viewpoint on risk mitigation that Lilly is likely hoping to co-opt. Ms. Johnson is responsible for leading technology, data, enterprise models, operations, the enterprise program management office, and resiliency. How did your role as CRO lend to your new focus on innovation? Johnson holds a B.A. Salary information comes from 1,927 data points collected directly from . At Evercore, where she will assume the role of chief financial officer by the end of the year, she will earn twice what she made at Fannie Mae. T. Rowe Price Names Kimberly Johnson Chief Operating Officer The inspector general concluded that because FHFA disagreed with its recommendation to re-assess the appropriateness of the new compensation, we consider this recommendation to be closed as rejected.. It works so well that no one is willing to take the risk to try something else., Your email address will not be published. Fannie Mae employees rate the overall compensation and . Fannie Mae salaries: How much does Fannie Mae pay? - Indeed leading technology, data, enterprise models, operations, the enterprise program management office, and resiliency. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. In other respects, the data speaks for itself, record profits, more capital than theyve had since they failed and were bailed out by the government, and both are frequently listed among the best places to work.. Personally, having the mindset that I described helped bridge the difference between risk and operations, which aided me with my transition. Personally, having the mindset that I described helped bridge the difference between risk and operations, which aided me with my transition. This realization also brings in fresh ideas around where things are going. The limits, which cap base salaries at $600,000, place it at a disadvantage compared to many other companies in attracting and retaining executives, the company told investors in its most recent annual report. Through the end of 2020, the GSEs have paid $301 billion in dividend payments to the Treasury. I interviewed Kimberly Johnson about a year ago as she was still settling into her role as Chief Operating Officer of Fannie Mae. Swoop president Scott Rines called it a one plus one equals three deal. All rights reserved. Its not just employee pension plans that were axed when the government seized the enterprises: FHFA clamped down on conferences and travel to meet customers, former executives said. Another trend I am particularly keen on is the green financing space. The filing goes on to note that if there were several high-level departures at approximately the same time, its ability to conduct business could be adversely affected. Fannie Mae declined to comment beyond pointing to the FHFA response to the IG report. Ultimately, it all comes back to people as everything we do is done through people. Fannie is now compensating CEO Hugh Frater and Benson, as president, a total of $4.2 million to execute the same responsibilities for which it had previously paid $600,000, the report concludes. Additional key roles Johnson held during her tenure at Fannie Mae include executive vice president and chief risk officer, senior vice president of multifamily capital markets and credit pricing, and head of multifamily trading. Though Hugh Frater remains as CEO, the high-level executives who have left in recent months amount to nearly 150 years of experience a significant loss of institutional knowledge at Fannie Mae, the larger of the two GSEs. Rocket has a plan to drastically cut costs. High: How does your organization get involved in the innovation within the company? Congress capped compensation for the CEOs of the companies at $600,000 in 2015, after former FHFA Director Mel Watt tried to give each of the executives a $4 million pay package to keep them from leaving. Following the crisis, we are no longer trying to win exclusively for us, but we are trying to win for everyone. Fannie Mae COO Kimberly Johnson - Metis Strategy If companies can figure out how to connect the people to the work, all sorts of avenues will open up. Following five years at the head of the risk seat, I now spend more time thinking about how to articulate a risk tolerance. Your email address will not be published. View Kimberly Johnson's profile on LinkedIn, the world's largest professional community. Additional key roles Johnson held during her tenure at Fannie Mae include executive vice president and chief risk officer, senior vice president of multifamily capital markets and credit. Former Fannie Mae employees attest that the federal government is unlikely to give up the influence it wields through the FHFA. Executive Vice President & Chief Operating Officer . He is also the author ofWorld Class IT: Why Businesses Succeed When IT Triumphs. 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. "I am confident that with her deep experience and strategic vision, Kimberly will quickly become an integral part of our leadership team.". A lot of people were very vested in wanting to see that succeed.. She is a member of Fannie Mae's management committee. The presidents get most of the compensation, because the CEOs are still under the congressional cap. She serves as a board member for Eli Lilly and many nonprofits. Celeste Mellet Brown, Fannie Maes chief financial officer, is the latest executive to depart the government sponsored entity. Thats a problem for high-level execs who want free rein, said Tim Rood, a former Fannie Mae executive who is now head of industry relations at SitusAMC. This marks a transition to moving all the risk management upstream to the beginning of the process, rather than the end. We found that what we deliver is far better received if there is cooperation in the creation, so this has become a great way to produce those improved results. Starting as a vice president of capital markets, Johnsons fortunes rose in the aftermath of the crisis until she eventually took on the position chief risk officer in 2015 and then chief operating officer the role she currently holds in 2018. The parent company of wholesale lender Homepoint named Bon Salle chairman of the board in January. She was part of the team that led the company back from the brink in roles of increasing responsibility from Vice President of Capital Markets to Senior Vice President of the company's Multifamily business unit to Chief Credit Officer to Chief Risk Officer. 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. As a result, the IG found, Fannie is paying $4.2 million to two executives for carrying out the same duties the former CEO used to perform for $600,000, while Freddie is paying $3.85 million for a similar setup. We recently launched a digital operating model with our partners in our single-family business, which represents a terrific way of doing software development. Compensation Information for , of FEDERAL NATIONAL MORTGA ASSN - Salary.com Because of this responsibility, many of our innovation efforts target reducing risk and costs to ensure more resilient operations overall. As a result, we have gotten some terrific seed ideas that we are looking to bring into production. John Forlines, most recently Fannie Maes chief risk officer, joined Homepoint as its chief risk officer in March. In my twelve years at Fannie Mae, I have held seven different roles. Kimberly Johnson - Chief Op.. - T. Rowe Price *Verified* | ZoomInfo Freddie created a new president position for the same purpose. Over the past twelve years, I feel as if I have worked for three different companies. 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. With this opportunity, we have to be resilient, secure, and we must ensure that we help the industry advance so that costs and risk are reduced for everyone. While most people have a risk tolerance, they do not spend substantial time thinking about what it is, how to communicate it, and how to get other people lined around it. FDA has new draft guidance for drugmakers pursuing wet AMD, an eye degeneration disease that causes a loss of vision. Instead of enforcing the law, the FHFA has allowed executive compensation at Fannie to increase by $3.6 million and at Freddie, by $3.25 million, Warren said. The decision to have the positions of CEO and President at each enterprise held by different individuals, whose compensation is set differently depending on their positions, did not and does not violate the CEO pay cap, the agency said in a written response to the IGs findings. As COO, Johnson will lead Global Technology, Global Investment Operations, Global Client Account Services, Enterprise Change, Real Estate & Workplace Services, Enterprise Risk, and the regional operating teams. Kimberly H. Johnson is Chief Operating Officer, . Fannie Mae named Malloy Evans, previously the companys chief credit officer for single family, to head the division. I learned this at multiple places, including the derivative space, hedge funds, investment banks, and even in risk. Required fields are marked *. We have a team that helps to foster those efforts by bringing in partnerships and helping people launch some pilot ideas. Executive Compensation Data Year: Trend Analysis As at FEDERAL NATIONAL MORTGA ASSN, made $0 in total compensation. Johnson holds a B.A. 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, she said. 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. 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. The company also offers a variety of sophisticated investment planning and guidance tools. And Fernando Correa Arango, most recently its head of corporate strategy, left in January after two years at Fannie Mae. In my beginning years with the firm, I was responsible for trading desks, generating revenue, and for our credit guarantee business. 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. Because of this, our focus going forward will be on using those capabilities to further our future business model. 1) Retention Award Terms - This Award is an incentive for you to remain employed by Fannie Mae in your current position and division, or a position and division determined by Fannie Mae through at least December 1, 2022. The average Fannie Mae salary ranges from approximately $50,466 per year for Business Operations Manager to $196,000 per year for Director of Strategy. We made the Collateral Underwriter available to all of our lenders, which allows them to see the values of these properties before they put their loans in. Kimberly H. Johnson. Johnsons appointment also makes good on Lillys diversity pledge in the aftermath of 2020s calls for racial equity across Fortune 500 companies. 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. The TI brand will disappear and the two will be simply called Swoop going forward. Moreover, there are tools that can be built as a risk officer that help put the boundaries around exactly where you want to go. You were the Senior Vice President of Multifamily Capital Markets and Pricing, the Chief Credit Officer [CCO], and the Chief Risk Officer [CRO]. Required fields are marked *. The power of data with Mike Simonsen at Gathering of Eagles, Eric Lapin on how consumer-controlled data can change lending, Clear Capital launches UDC to support appraisal modernization. This segment also provides single-family mortgage servicing, as well as credit risk and loss management services. Fifteen months, a pandemic and a new presidential administration later, a White House budget document suggests there is little desire to end the current arrangement. Ultimately, it all comes back to people as everything we do is done through people. Regarding the technology trends, the main focus has been on the average ones, such as the cloud and big data. Housing finance experts agree there is little reason for the government to end what is an extremely lucrative arrangement. Andrew Bon Salle, one of the GSEs most senior leaders and its head of single-family, left at the end of 2020 to join the parent company of wholesale lender Home Point Capital. Officer of Federal National Mortgage Association, the total compensation of Mr Hayward at Federal National Mortgage Association is $2,778,141. Words cant bring Christina Aguilera down but frown lines can. Eli Lilly adds new board member Kimberly Johnson, the COO who helped Freddie Mac created the position of president to ensure a seamless transition to the role of CEO. The power of data with Mike Simonsen at Gathering of Eagles, Eric Lapin on how consumer-controlled data can change lending, acknowledged that there were issues with the policy, GSEs to retain much more of their earnings, Clear Capital launches UDC to support appraisal modernization. Kimberly Johnson is the Executive Vice President and Chief Operating Officer of Fannie Mae, a leader in the secondary mortgage market with revenues exceeding $120 billion. For years, high-level GSE employees have been awaiting the end to conservatorship. 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. In 2019, the Treasury began allowing the government-sponsored enterprises to retain a combined $45 billion in capital, $25 billion for Fannie Mae and $20 billion for Freddie Mac. I was fortunate to step into a role which had many strong leaders in place, so I do have leaders for each of those teams. Please note this link is one-time use only and is valid for only 24 hours. 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? As a result, the IG found, Fannie is paying $4.2 million to two executives for carrying out the same duties the former CEO used to perform for $600,000, while Freddie is paying $3.85 million for. High: As you look to the future, what are some trends that are making their way onto your personal or professional roadmap that particularly excite you? The company then announced this month that Layton would step down July 1, when Brickman would become the next CEO. T. Rowe Price Names Kimberly Johnson Chief Operating Officer This mix serves as a nice way to string together the full array of the functionality that we need to enable the business. The FHFA also said that while Fannies board plans to keep the CEO and president roles separate, Freddie plans to eliminate the president position once a new CEO is installed this summer.