In her 25 years at Freddie Mac, Josephine Umana has worked to create a more authentic workplace for herself and her team. Umana joined Freddie Mac as a financial analyst and has led various corporate functions over the years, including investor relations, capital planning and corporate insurance. As chief operating officer, Umana oversees the day-to-day business operations of the division, which manages Freddie Mac’s mortgage investments portfolio and performs all mortgage securitization, interest-rate hedging, liquidity management and corporate treasury functions for the company. During late 2020, she created a reverse mentoring pilot in which millennial employees representing different minority groups serve as mentors to capital markets executives. The pilot has helped to maintain engagement and connection during the pandemic and spur meaningful conversations about inclusion, diversity and equality. Also in 2020, under her leadership, the I&CM back office processed over $25 trillion in transactional volume — more than double the prior year — while incurring no operational losses. In addition to overseeing back office operations, Umana’s ongoing responsibilities include leading I&CM’s operational risk management, data governance, vendor management and business resiliency. She also serves as the trustee for Freddie Mac’s single-family mortgage securitization programs.
SVP, Chief Operating Officer of Investments & Capital Markets