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Internal Auditor III (Capital Markets)

Job Description

At Fannie Mae, futures are made. The inspiring work we do makes an affordable home a reality and a difference in the lives of Americans. Every day offers compelling opportunities to impact the future of the housing industry while being part of an inclusive team thriving in an energizing, flexible environment. Here, you will help lead our industry forward and make your career.

As an Internal Auditor III in the Capital Markets team, you will have the opportunity to work on audits pertaining for Fannie Mae's treasury and securities activities, further developing your expertise in audit methodology.

Assist with planning, executing and reporting financial, operational and compliance related audits/projects to facilitate compliance with federal laws, corporate standards and generally accepted accounting principles. Senior Internal Auditors are expected to fully demonstrate generalized knowledge of the mortgage industry and Fannie Mae's business operations and to pursue specialized functional area expertise in one or more areas.


In this role you will have the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities:

  • Successfully perform all key job functions of the Internal Auditor role at a higher level of complexity, scope and autonomy.
  • Coordinate and lead audit team meetings to discuss the audit plan, including audit background, preliminary objectives/scope (identified during the Annual Audit Planning process), audit budget, audit execution schedule, affected departments, contacts and expectations. Take ownership and independently manage subsets of audits with minimal oversight from Audit Manager/Director. Conduct first-level review of Internal Auditor work and documentation; leverage Internal Audit Manager/Director guidance as needed.
  • Review audit documentation; begin to determine risks and the potential impact of risks on the organization. Perform root cause analysis on exceptions identified during audits. Validate and document Risk Control Matrix; write test procedures based on Risk Control Matrix. Draft audit reports; revise and finalize with Audit Manager/Director. Write ICIs, discuss with audit management and validate issues with customers; assist with additional report writing as needed.
  • Assist with tracking results of prior audits, identifying audit themes across organizations and determining if appropriate corrective action has been taken regarding significant audit concerns. Contribute to strengthening and improving the governance, risk and control environment of the organization; share issues, ideas and recommendations with the Internal Audit Manager/Director and Internal Audit teams.
  • Provide informal, day-to-day coaching and guidance to Internal Auditors. Share knowledge of specialty areas to build knowledge and capabilities across Internal Audit.
  • Build and maintain relationships with business partners at the manager and staff levels. Provide advice and share Internal Audit knowledge with business partner managers and staff to strengthen governance, risk and control environments, as appropriate.


  • Bachelor Degree or Equivalent required
  • MS and/or MBA preferred
  • Background/Coursework in: Finance, Accounting, and/or Business Administration preferred
  • CIA, CPA and/or CFE preferred

Experience and Knowledge
  • 3 to 6 years of relevant experience
  • Demonstrate an understanding of the Money Markets: Agency Securities, Treasury Bills, Repurchase Agreements, Fed Funds
  • Demonstrate an understanding of Capital Market Classification; Primary Market, Secondary Market
  • Demonstrate an understanding of Fixed Income Securities: Treasury Bond, Agency Bonds, Mortgage Backed Securities, Corporate Bonds, Zero Coupons Bonds, Municipal Bonds, Asset backed Securities.
  • Demonstrate an understanding of the derivatives instruments (Swaps, Forwards, Futures, Options), categories (Option and forward type contracts), Exchange Traded and Over the Counter
  • Demonstrate an understanding of Risk Management (Liquidity Risk Management, Interest Rate Risk Management), Performance Reporting, Asset and Liability Management.
  • Demonstrate an understanding of and Trading Infrastructure including but not limited to trading function, portfolio management, trade settlement, reporting.
  • Demonstrate an understanding of the Mortgage Pass Through Securities and Pricing.

The future is what you make it to be. Discover compelling opportunities at careers.fanniemae.com. 

Fannie Mae is an Equal Opportunity Employer, which means we are committed to fostering a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation in the application process, email us at careers_mailbox@fanniemae.com.

Successful job applicants will be required to successfully complete a background investigation. 

Req ID: 60111