Metropolitan Mortgage Fund, Inc., has elected Robert F. Silver president. R. Marshall Fitton remains with the Alexandria-based subsidiary of Dominion Bankshares Corp. as chairman and chief executive officer.

Silver joined Metropolitan Mortgage in 1973 as senior vice president. Prior to that he has been a principal of Provident Mortgage Corp. of Springfield.

D.C. National Bank has named Thomas S. Condit executive vice president and chief administrative officer.

Before joining D.C National, Condit was executive vice president of Bank of Virginia-Potomac. In that post he was in charge of all corporate and retail banking, including administration of the bank's branch offices.

Government Employees Life Insurance Co. and Government Employees Life Insurance Co. of New York have elected Arthur T. Y. Loh vice president for investments.

Loh joined Gelico in 1974 as assistant vice president for investments. In 1975 he was promoted to vice president for finance. Last year he was elected senior vice president and chief financial officer of associated Government Employees Insurance Co. and Criterion Insurance Co.

Gelicony also elected David C. Drake vice-president and actuary. He was named to the same position at Gelico in June. Prior to that, he had been president and actuary of Factuarial Co., an actuarial consulting firm.

H. L. Rust Co. has promoted Charles R. Faris Jr. to vice president in charge of residential loans. Faris has been with Rust for four years as an assistant vice president in Northern Virginia.

Johnston, Lemon & Co. has elected W. Russell Pickering vice president for sales. He comes to the Washington brokerage firm from Dominick and Dominick of New York, where he was also a vice president.

Seattle-based Boeing Co. has put vice president Russell B. Light in charge of the company's Washington office. Light, who was promoted to vice president last year, replaces VP Richard W. Taylor, who will return to Seattle.

Time-Life Books, Inc. president and chief operating officer John D. McSweeney has been elected vice president of the parent company, Time, Inc.

McSweeney joined Time in 1950 and Time-Life Books when it was organized in 1961. He was named president of Time's Alexandria-based subsidiary in 1976.

Amax, Inc. of Greenwich, Conn., has elected Pierre Gousseland chairman of the board effective Oct. 1. He succeeds Ian MacGregor, who will retire at that time.

Gousseland's successor as president will be John Towers, who is currently executive vice president.

International Bank of Washington has elected Arthur D. Lewis to the board. Lewis is president of the American Bus Association, a post he assumed in June 1977.

CBS, Inc. senior vice president Peter A. Derow has been elected to the board. Derow joined CBS earlier this month. Prior to joining CBS, Derow was president of Newsweek, Inc., and a director of its parent, The Washington Post Co.

Joseph J. Sisco, president of American University, has been elected to the boards of Raytheon Co. and Tenneco Corp.

Equitable Life Assurance Society of the United States has elected executive vice president David H. Harris to the board.

Mary G. Roebling, chairman of National State Bank of Elizabeth, N.J., announced she will accept the position of chairman of the Women's Bank, N.A., of Denver when it is issued its charter by the comptroller of the currency. She plans to continue to hold her post at the New Jersey bank.

Vincent A. Shechy III has been elected to represent Maryland on the board of the National Automobile Dealers Association Sheehy, president of Sheehy Ford, Inc., succeeds John J. Pohanka of Pohanka Oldsmobile.