W. Doug Foster was appointed as the Chief Financial Officer at the Federal Energy Regulatory Commission (Commission) in April 2013. As the Chief Financial Officer, Mr. Foster is responsible for managing all the financial and asset management functions and programs for the Commission. Specifically, these duties include but are not limited to the management of the Commission’s budget planning, development and execution efforts, the management of the Commission’s internal auditing, strategic planning and performance measures reporting efforts, the management of the Commission’s acquisition responsibilities, the management of all logistical and facilities management functions and the Commission’s financial statements and external financial reporting responsibilities.
Since graduating from college in 1993, Mr. Foster has worked his entire professional career at the Commission. Prior to becoming the Chief Financial Officer, he served as the Commission’s Accounting Officer from February 2011 to April 2013 where he developed and implemented effective financial management controls which ensured financial processes within the Chief Financial Officer’s organization were effectively operating. This led to the Commission for the first time receiving an unqualified audit opinion without any financial audit findings, which is the best result an agency can receive. As the Commission’s Accounting Officer, he oversaw the implementation of the Commission’s new FERC Annual Charges system, which is responsible for calculating the annual charges the Commission assesses to the oil, gas, electric and hydropower industries the Commission regulates.
Before serving as the Accounting Officer at the Commission, he served as the Director of Financial Management within the Office of the Executive Director. As the Director of the Financial Management Division, he implemented effective operational processes that increased the Commission’s payment of invoices on time from 85% to 100%, far exceeding the federal government’s standard of paying 96% of invoices on time. Since 2001, Mr. Foster has served in a financial management leadership capacity in the Office of the Executive Director. As a steward of governmental resources, he has worked closely with the Executive Director ensuring the Commission is operating effectively and efficiently and void of fraud, waste and abuse. Under his leadership, the Commission has received 12 straight unqualified audit opinions, which is the best opinion that can be received during an independent audit.
Mr. Foster received his Bachelor’s degree in Accounting with a minor in Business from the University of Maryland-Eastern Shore in 1992. He received his certification of public accountancy in the state of Maryland in 1995. He was born and raised in the Washington, DC metropolitan area and currently resides in Accokeek, Maryland with his wife, son and daughter.
