Fannie Mae

www.fanniemae.com
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It's a SHAME Management does not seem to recognize the IMPORTANCE of FANNIE MAE

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Technology Specialist in Reston, VA
Current Employee - Technology Specialist in Reston, VA

I have been working at Fannie Mae

Pros

The purpose of FANNIE MAE (contrary to public opinion) is essential to the health of our economy.
There are some individuals passionate about the purpose and remain comitted to doing what's right.
For a long time, FANNIE MAE was well funded for IT projects and initiatives; its a shame, since so much was squandered in the wrong directions.

Cons

The TECHNOLOGY division is filled with both inexperienced and incompetent individuals. The resources are highly inbred, so the dysfunction is challenging to address.
Violations of standards and policy is rampant, excused away by a sense of entitlement or expediency. I suspect most of it is based on inexperience.
I have never seen so many MANAGERS act unprofessionally during meetings, seeking to conceal their incompetence.
They are steadily outsourcing IT functions to managed service providers; while unfortunate for some, quality employees, this is the merciful method to address the problems.

Advice to ManagementAdvice

The toughest challenges are still to come. The course will be difficult to maintain, but outsourcing has the consequence of removing much good flesh with the gangerous. You're replacing one problem with a myriad of others.
Have you considered that middle and upper management is the REAL cause of the issues? Some of the most tenured employees are the source of your challenges.

Doesn't Recommend
No opinion of CEO

498 Other Employee Reviews for Fannie Mae (View Most Recent)

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  1. 1 person found this helpful  

    The best times are over, but so are the worst times

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Engineer IV in Washington, DC
    Current Employee - Financial Engineer IV in Washington, DC

    I have been working at Fannie Mae

    Pros

    Before the financial crisis, this was a great place to work at, great compensation, great benefits, good work-life balance. The housing downturn hit hard and - while being an interesting place to be in, in the middle of the fight - the stress and uncertainty levels shot through the roof.

    Those who can weather the storm could very well be rewarded in the end. Fannie Mae might go away in its current form, but cannot disappear.

    Interesting place to work from a professional point of view, if you care about credit and valuation models. The benefits are great and compensation is decent. For the Washington, DC area the alternatives are slim.

    Cons

    Uncertainty about the future, layoffs after layoffs, politics.

    Very fat middle-management layer. Everyone pushes to be a director, since in a non-management role you can hit the ceiling fairly quickly. Having a deeper non-management track would go a long way towards solving this and hanging on to the quality people who actually do the work, not just talk about it.

    Advice to ManagementAdvice

    Keep cutting costs by trimming the fat, define and implement a solid non-management track and the diamond shape will go away.

    No opinion of CEO
  2. 1 person found this helpful  

    Great Benefits horrible Management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    I have been working at Fannie Mae

    Pros

    Heres some pros to working at fannie mae
    great benefits
    good location
    not a lot of long hours
    great experience

    Cons

    there seems to be a lot of cons recently with Fannie Mae. The management does a poor job of developing their staff. There seems to be contractors everywhere for every job, which causes a knowledge gap issue. Poor recognition by management for quality reviews.

    Advice to ManagementAdvice

    HR should look to do more of a people manager assessment prior to hiring for management position. Most of the employees there don't leave cause of Fannie but cause of the Management!

    Approves of CEO
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