The Federal Deposit Insurance Corporation (FDIC) today announced the hiring of additional key leadership staff for the Office of Complex Financial Institutions (CFI) and the Division of Depositor and Consumer Protection (DCP). The FDIC Board of Directors approved the establishment of two new organizations in August, 2010 to enhance the Corporation's ability to carry out its new and enhanced responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act. CFI will provide strategic direction to the FDIC's new mission responsibilities under the Dodd-Frank Act to monitor and address risks in the largest, systemically important financial institutions. DCP will provide greater focus and visibility to the Corporation's depositor and consumer protection programs.
Both organizations will begin formal operations on February 13, 2011. In addition, the Division of Supervision and Consumer Protection (DSC) will become the Division of Risk Management Supervision (RMS) on that date.
FDIC Chairman Sheila C. Bair said, "We have been working hard since the Board established CFI and DCP to identify strong executive management teams to lead both organizations. I previously announced the selections of Jim Wigand as CFI Director and Mark Pearce as DCP Director. We have now identified talented individuals to fill most of the other key leadership positions in the two organizations."
The staffing announced today includes:
Office of Complex Financial Institutions
Jason C. Cave as Deputy Director for Complex Financial Institutions Monitoring in CFI. He has been with the FDIC since 1993 and currently serves as the Deputy to the Chairman. In that capacity, he has been responsible for coordinating various FDIC Board functions and spearheading several large bank initiatives. Mr. Cave previously managed the Capital Markets Branch in DSC, where he led the Corporation's Basel II capital policy efforts. He has served on several international and domestic policy groups, including the Basel Committee on Banking Supervision's Policy Development Group. Mr. Cave is a graduate of Bryant College and is a CFA Charterholder.
Mary Patricia ("MP") Azevedo has been selected as Deputy Director for International Coordination in CFI. She has worked in international affairs for over 30 years. Ms. Azevedo currently serves as the Associate General Counsel and Senior Vice President (International) for The Western Union Company. Prior to beginning her association with Western Union in 1999, she served 18 years in private legal practice as an associate and a partner representing banks, financial services firms and international corporations in a broad range of matters. Ms. Azevedo is a graduate of Connecticut College, holds a Master's degree in Law and Diplomacy from the Fletcher School at Tufts University and a J.D. from the University of North Carolina at Chapel Hill.
Division of Depositor and Consumer Protection
Sylvia H. Plunkett has been selected as Senior Deputy Director for Compliance and CRA Examinations in DCP. Ms. Plunkett is a 32-year veteran of the FDIC currently serving as Associate Director for Compliance Examinations in DSC, where she previously served as Regional Director in the Chicago Region and Deputy Regional Director for Compliance in the Dallas Region. She also served as Regional Director in the Memphis Region for the former Division of Compliance and Consumer Affairs. Ms. Plunkett is a graduate of Mississippi State University, the School of Bank Administration at the University of Wisconsin-Madison, and the Federal Executive Institute's Leadership for a Democratic Society program.
Jonathan N. Miller has been selected as Deputy Director for Policy and Research in DCP. He has worked for the U. S. Congress in a variety of leadership positions for more than 23 years. He is currently serving as Team Leader for the Consumer Protection Team on the Senate Banking Committee's Housing Subcommittee. He previously served as Minority Staff Director of the Senate Banking Committee's Housing Subcommittee, Legislative Director and Administrative Assistant for Congressman Joe Kennedy, Legislative Director for the House Committee on Ways and Means, and Senior Legislative Assistant for Representative Charles Schumer. Mr. Miller is a graduate of Georgetown University and has a Master's degree in Public Policy from the Harvard University's John F. Kennedy School of Government.
Keith S. Ernst has been selected as Associate Director for Consumer Research and Examination Support in DCP. He will join the FDIC from the Center for Responsible Lending in North Carolina, a nationally recognized research and policy organization, where he is currently the Director of Research. He has also served as the organization's Senior Policy Counsel. Mr. Ernst has extensive experience in overseeing research and developing policies dedicated to protecting home ownership and family wealth by working to eliminate abusive financial practices, and his research has been used in the development of key consumer protection statutes. His work has been published in various academic journals. Mr. Ernst is a graduate of Hofstra University and has a Master's degree in Public Policy and a JD from Duke University.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-30-2011