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News Release | NR 26-07 (5-26-26)

FCA names Ily Soares chief financial officer and director of the Office of the Chief Financial Officer

McLEAN, Va., May 26, 2026 — Farm Credit Administration Board Chairman and Chief Executive Officer Jeffery Hall announced today that Ily Soares will serve as the agency’s new chief financial officer and director of the Office of the Chief Financial Officer (OCFO). Soares has been serving in an acting capacity for both roles following the retirement of CFO Mary Peterman on April 30, 2026.

“I am pleased that Ily has accepted FCA’s offer to take on this role,” said Chairman Hall. “Our agency will continue to benefit from her outstanding leadership, her extensive experience in financial systems operations, and her deep familiarity with FCA’s mission and staff. I’m very excited to work with her in her new position.”

“FCA has a strong record of promoting its staff into greater roles of leadership and responsibility and Ily’s appointment is another example of that institutional practice,” said Board Member Glen Smith. “Her years of experience in financial management and strong commitment to our mission to keep the Farm Credit System safe and sound made her an obvious choice to lead OCFO.”

Ms. Soares brings 30 years of federal service—including 17 years with FCA—to her new role, where she will oversee the agency’s budget, procurement functions, travel and relocation programs, and internal control program. She is a certified public accountant and a certified project management professional.

Prior to joining FCA, Ms. Soares worked as a system accountant at the U.S. Department of the Interior’s Interior Business Center, a federal shared service provider. In that role, she supported financial systems implementation and operational needs for several federal agencies, including FCA. She began her career with the Department of the Navy’s Naval Audit Service, handling both operational and financial audits.