Freddie Mac appoints compliance chief
Freddie Mac is hiring Dennis Hermonstyne as senior vice president and chief compliance officer (CCO), effective September 19.
Hermonstyne will be a member of the company’s senior operating committee and report directly to CEO Michael DeVito in addition to working closely with chief risk officer Anil Hinduja. As CCO, Hermonstyne will head up Freddie Mac’s compliance risk management program in relation to the company’s legal, regulatory and conservatorship obligations.
Hermonstyne most recently was executive vice president and CCO of Santander Bank, based in Boston. In that role he was responsible for overseeing the bank’s strategic compliance program and policies and procedures for compliance vulnerability across the company.
Before joining Santander in 2017, he was deputy CCO of E*TRADE Bank. He has also held several legal positions at federal regulatory agencies such as the Federal Reserve Board of Governors.
DeVito says in a statement: ‘Dennis is an accomplished compliance officer with a broad experience at national and international financial services firms. He will be an excellent addition to Freddie Mac’s senior operating committee. I look forward to working closely with Dennis as we continue Freddie Mac’s commitment to safety, soundness and world-class risk management.’