On September 27, 2023, the New Mexico Mortgage Finance Authority (MFA) announced the appointment of Arundhati Bose as their new Chief Financial Officer (CFO). According to a press release, Bose brings with her an impressive background in finance management, with 30 years of experience and a strong educational foundation.
Bose holds a Master of Science degree in economics from the University of Calcutta in Calcutta, India. She also possesses a Master of Business Administration in finance and accounting, as well as a post-MBA certification in human resources from the University of New Mexico.
Throughout her career, Bose has held various finance roles in different organizations. She joined the bond finance department at MFA in 1992 and later transitioned to strategic finance and financial disclosure positions at the Public Service Company of New Mexico (PNM). She spent the last twenty years at Gap Inc., where she made significant contributions in budgeting, forecasting, inventory management, and addressing global supply chain issues. In her most recent role, she managed internal audits, ensured Sarbanes Oxley compliance, participated in external audits related to the Committee of Sponsoring Organizations, and contributed to developing internal controls and streamlining processes for Gap Inc.'s Japan business unit.
MFA's Executive Director/CEO Isidoro Hernandez expressed his confidence in Bose's abilities, stating, "Arundhati brings a wealth of experience, knowledge, and expertise to MFA. We are very happy she has come full circle and are confident that her return to the organization will further our mission of ensuring affordable housing opportunities for all New Mexicans."
As the CFO of MFA, Bose will oversee both the Finance and Servicing Departments. The New Mexico Mortgage Finance Authority, established in 1975 by the New Mexico State Legislature, is dedicated to providing access to quality affordable housing for all residents of the state. The organization utilizes housing bonds, tax credits, and various federal and state resources to support more than 30 housing programs.
Bose's appointment as CFO demonstrates MFA's commitment to strong financial management and their goal of providing affordable housing opportunities to the people of New Mexico.