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Hagen Selected as NCUA Inspector General

​DeSarno to Retire after Lengthy Record of Government Service

ALEXANDRIA, Va. (April 23, 2013) – National Credit Union Administration Board Chairman Debbie Matz today announced the selection of James Hagen as the agency’s next Inspector General. Hagen, the current Deputy Inspector General for Audit, will assume his new post June 1. He will succeed William DeSarno, who is retiring.

“Jim Hagen is a dedicated and well-qualified public servant who will assume a very important role at NCUA,” Matz said. “The Inspector General not only holds the agency accountable, but this office regularly identifies ways to improve how the agency does its work. Jim’s deep knowledge of financial services issues, background as an inspector general and familiarity with NCUA’s operations make him ideally suited for this new role.”

NCUA Board Member Michael Fryzel also welcomed Hagen to his new position.

“I believe Jim Hagen will be an excellent Inspector General for NCUA,” Fryzel said. “He brings a wealth of knowledge and experience to the position. Working with him in the past, I have found that he maintains the independence of that office while offering solid and constructive suggestions on how the agency can improve its operations and do a better job. He understands the importance and scope of the Inspector General position and will serve NCUA well in that important capacity.”
Hagen joined NCUA in 2005. In his current position, he is responsible for auditing and evaluating the business programs, as well as the safety and soundness of federal credit unions and the National Credit Union Share Insurance Fund. He is also responsible for the agency’s Financial Statement Audit, Federal Information Security Management Act reviews, and material loss reviews of liquidated credit unions.
Prior to working at NCUA, Hagen served in inspector general’s offices of the U.S. Postal Service, the Social Security Administration, and the Treasury Department.
Hagen holds a bachelor’s degree in marketing and management from the University of Baltimore. He is certified as an Inspector General, a Government Financial Manager and a Fraud Examiner.
DeSarno will retire after 16 years with NCUA, the last eight years as Inspector General. He retires after more than 44 years of government service.
“Bill DeSarno has had an outstanding career at NCUA and has earned the respect of the entire Washington, D.C., Inspector General community,” added Fryzel. “He has handled a tough job in a fair, consistent and independent manner. His efforts to modernize and make the Inspector General’s office more responsive and involved in improving the agency are well recognized.”
“Bill DeSarno held a key post at NCUA during the difficult years when credit unions and the agency worked through the recent financial crisis. His accurate insights and careful analysis of complex issues will benefit NCUA and credit unions for many years to come,” concluded Matz. “We are grateful for his many years of public service, and we wish him well in his retirement.”

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 100 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.


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