The American Chemical Society, a scientific and educational organization headquartered in Washington, recently elected Dr. Mary L. Good as 1978 chairman of its board of directors.

Dr. Good is the Boyd Professor of Chemistry at the University of New Orleans and known for her work in inorganic chemistry. She is also involved in the field of radiochemistry and currently heads the university's Nuclear Energy Committee where she oversees all operations involving radioactivity for the campus.

Dr. Good joined the American Chemical Society in 1951 and served as chairman of the society's Louisiana section in 1969. Among the honors she has won are the Agnes Faye Morgan Research Award, the ACS Garvan Medal for distinguished service to chemistry by women chemists, and the American Institute of Chemists' Honor Scroll.

Appointed to the board's executive committee were Dr. Pauline Newman of the FMC Corporation, Dr. William J. Bailey of the University of Maryland, and Dr. Henry A. Hill of Riverside Research Laboratories, Haverhill, Mass.

To put new emphasis on market surveillance, the Securities and Exchange Commission has upgraded several positions in the agency's enforcement division.

Stanley Sporkin, director of enforcement, announced that Wallace L. Timmeny, associate director, has been named deputy director. This puts him directly under Sporkin in the division's chain of command in charge of day-to-day operations.

David Doherty and Theodore A. Levine were appointed associate directors. Levin's section will be in charge of market surveillance, while Dougherty's will oversee regional office assistance, criminal reference, organized crime and municipal securities.

Other SEC staffers who were promoted: Michael F. Perlis and Edward D. Herlihy were made assistant directors: Robert G. Ryan, special counsel, and Deborah A. Hechinger and Richard J. Morvillo, branch chiefs.

Two former officers of the United Virginia Bank of Fairfax will head a newly formed mortgage company in Fairfax.

C. Chrisman Riber Jr. is the president of the Vanguard Mortgage Corporation and Donald B. Hupp is vice president-treasurer of the new firm.

Riner has been in the mortgage business for 14 years and was in charge of the mortgage department of the United Virginia Bank of Fairfax. He has served as vice president of the United Virginia Mortgage Corporation.

Prior to forming Vanguard with Riner, Hupp was the regional manager for investors Mortgage Insurance Co. of Boston in charge of Maryland, Virginia, and the District. He also worked as the construction loan officer for United Virginia Bank of Fairfax and United Virginia Mortgage Corp.

The board of directors of The Riggs National Bank has named E. Murray Norman and Alex R. Sabatini as new senior vice presidents of the bank's trust division.

Norman, who has been with Riggs since 1954, will be the second in command of the trust department.

Sabatini will head the personal trust administration group. He has been involved in trust department work in his 25 years in banking.

W. B. Doner and Company, a Baltimore advertising agency, announced two appointments for its media.

Patricia D. Pearson, formerly with J. Walter Thompson Company of New York, was named media buyer for the agency. Donald J. Cole will assume the position of media supervisor and planner. Prior to joining Doner, Cole was a research analyst for Arbitron.