The NCUA announced Tuesday a change of guard in the Inspector General's office with the retirement of current IGWilliam DeSarno and the selection of current Deputy InspectorGeneral for Audit James Hagen as his replacement.

Hagen will take over the IG position effective June 1, theagency said.

“Jim Hagen is a dedicated and well-qualified public servant whowill assume a very important role at NCUA,” said NCUA BoardChairman Debbie Matz.

“The Inspector General not only holds the agency accountable,but this office regularly identifies ways to improve how the agencydoes its work,” Matz said in a statement. “Jim's deep knowledge offinancial services issues, background as an inspector general andfamiliarity with NCUA's operations make him ideally suited for thisnew role,” she said.

NCUA Board Member Michael Fryzel also welcomed Hagen to his newposition.

“I believe Jim Hagen will be an excellent Inspector General forNCUA,” Fryzel said. “He brings a wealth of knowledge and experienceto the position. Working with him in the past, I have found that hemaintains the independence of that office while offering solid andconstructive suggestions on how the agency can improve itsoperations and do a better job.

Hagen joined NCUA in 2005. In his current position, he isresponsible for auditing and evaluating the business programs, aswell as the safety and soundness of federal credit unions and theNCUSIF. He is also responsible for the agency's Financial StatementAudit, Federal Information Security Management Act reviews andmaterial loss reviews of liquidated credit unions.

DeSarno will retire after 16 years with NCUA, the last eightyears as Inspector General. He has logged more than 44 years ofgovernment service in his career.

“Bill DeSarno has had an outstanding career at NCUA and hasearned the respect of the entire Washington, D.C., InspectorGeneral community,” Fryzel said.

“He has handled a tough job in a fair, consistent andindependent manner. His efforts to modernize and make the InspectorGeneral's office more responsive and involved in improving theagency are well recognized,” the NCUA Board member said.