Fannie Mae adds new board director

He brings extensive experience in enterprise risk management

Fannie Mae adds new board director

Fannie Mae has tapped Chetlur S. Ragavan to serve as a member of its board of directors, as well as its risk policy and capital committee and nominating and corporate governance committee.

Ragavan, the founder and principal of advisory and consulting firm Risk Response, comes to the role with decades of experience in enterprise risk management and financial services. He is also currently serving as a board member at CNO Financial Group and on the board of the Council for Economic Education.

Before Risk Response, Ragavan worked as executive vice president and chief risk officer of Voya Financial (formerly ING) from 2014 until his retirement in 2019. Early in his career, he held several leadership positions at various financial institutions, including BlackRock and Merrill Lynch.

Read more: Fannie Mae more than doubles income in Q1

“Chet is an accomplished industry executive whose significant risk oversight and financial services acumen will greatly contribute to Fannie Mae’s board of directors and help continue the company’s strong corporate governance and focus on risk management,” said Michael Heid, chair of Fannie’s board of directors.

“We’re pleased to welcome Chet to our accomplished Fannie Mae board of directors,” added Fannie Mae CEO Priscilla Almodovar said in the company’s news release. “We will benefit from his guidance and extensive risk management experience as we continue to support sustainable access to affordable mortgage credit and provide liquidity to the US housing sector safely and soundly.”

Want to keep up with the latest mortgage news? Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.