The Office of the Chief Financial Officer (OCFO) is led by Chief Financial Officer, Thomas R. Weakland.
The office serves as Ginnie Mae’s liaison to HUD’s OCFO, the Office of the Inspector General, the Office of Management and Budget (OMB), the General Accounting Office (GAO), the U.S. Department of Treasury, and the U.S. Congress (through HUD).
The office maintains all financial management and operational controls for Ginnie Mae, ensures compliance with the reporting requirements of the Federal Financial Managers’ Integrity Act and the Chief Financial Officers Act, provides accounting and financial reporting services, manages the investment of Ginnie Mae funds, prepares and monitors the execution of the budget, manages defaulted assets, and oversees the management of financial models. The office also performs all internal audits, and helps to minimize financial risk to Ginnie Mae by evaluating and promoting effective internal controls in all core business areas, implementing financial procedures and enhancing risk assessment and prevention methodologies.
The office is supported by four key divisions – the Governance and Compliance staff, the Controller’s Division, the Treasury Division, and the Budget and Economic Modeling Division. Each of these areas specialize in a specific aspect of financial policy or administration, ranging from conducting audits to providing technical accounting management to managing cash assets to preparing federal budget submissions.