Federal Position Descriptions
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Chair

Chair, Federal Deposit Insurance Corporation
Responsibility
Management Scope

In fiscal 2015, the FDIC approved a $2.1 billion operating budget4, and had 5,460 total employment.5

Primary Responsibilities

• Supervises thousands of insured banks for safety, soundness and consumer protection.
• Serves as backup prudential supervisor for large, systemic financial institutions.
• Insures bank deposits, sets risk-based deposit insurance premiums and manages the deposit insurance fund.
• Is ready to respond quickly to protect insured bank deposits and ensure the orderly resolution of failed financial institutions.

Strategic Goals and Priorities
[Depends on the policy priorities of the administration.]
Requirements

• Strong working knowledge of finance, accounting, and the American banking system
• Understanding of the structure and functioning of financial institutions and government financial regulation
• Background in professional financial institution regulation (a plus)

Competencies

• Excellent leadership, management, and public communication skills

Past Appointments
  • Martin Gruenberg (2012 to present) – Acting Chairman of the Federal Deposit Insurance Corporation; Vice Chairman of the Federal Deposit Insurance Corporation; Senior Staff, Senate Committee on Banking, Housing, and Urban Affairs6
  • Sheila Bair (2006 to 2011) – Dean’s Professor of Financial Regulatory Policy, University of Massachusetts-Amherst; Assistant Secretary for Financial Institutions, Department of the Treasury; Senior Vice President for Government Relations of the New York Stock Exchange7
  • Donald Powell (2001 to 2006) – CEO, First National Bank of Amarillo; Chairman of the Board of Regents of the Texas A&M University System; Advisory Board Member, George Bush School of Government and Public Service; Chairman, Amarillo Chamber of Commerce8
AGENCY

Federal Deposit Insurance Corporation

Mission: To maintain stability and public confidence in the nation's financial system by insuring deposits; examining and supervising financial institutions for safety, soundness and consumer protection; and managing and resolving failed financial institutions.1

COMPENSATION

Level IV $155,500 (5 U.S.C. § 5315)3

REPORTS TO

The FDIC is an independent agency. The chair serves at the pleasure of the president.

SENATE COMMITTEE

Commerce, Science and Transportation

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Footnote
  1. https://www.fdic.gov/about/strategic/strategic/mission.html
  2. https://www.fdic.gov/about/strategic/strategic/mission.html
  3. The Consolidated Appropriations Act, 2017 (Public Law 115-31, May 5, 2017), contains a provision that continues the freeze on the payable pay rates for certain senior political officials at 2013 levels during calendar year 2017.
  4. https://www.fdic.gov/about/strategic/report/2015annualreport/section4-01.html
  5. Partnership for Public Service agency profile
  6. https://fdic.gov/about/learn/board/gruenberg/index.html
  7. http://www.bairblog.com/about-sheila-bair/
  8. https://www.fdic.gov/about/meet/index.html
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