FFIEC Press Release - July 2, 2008

Press Releases

Federal Financial Institutions Examination Council	Press Release
For Immediate Release	July 2, 2008

PAUL T. SANFORD APPOINTED FFIEC EXECUTIVE SECRETARY

Randall S. Kroszner, Chairman of the Federal Financial Institutions Examination Council (FFIEC) today, announced the appointment of Paul Sanford as Executive Secretary of the Council. Mr. Sanford's principal responsibilities will be to coordinate interagency staff task forces that have been established by the Examination Council and to direct the FFIEC staff on behalf of the Council.

The Council, established by Title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978, is charged with responsibility for prescribing uniform principles and standards for the federal examination of financial institutions and making recommendations to promote uniformity in the supervision of those financial institutions.

Mr. Sanford most recently served as a Senior Instructional Designer for Educational Program Development for the Office of the Comptroller of Currency (OCC). Immediately prior to joining the OCC, Mr. Sanford served with the FFIEC as a Senior Program Administrator in the Examiner Education Office. Prior to the FFIEC, he served in a variety of commissioned examiner roles with the Federal Deposit Insurance Corporation (FDIC), including Supervisory Examiner and Case Manager. Mr. Sanford earned a Bachelors degree in Business Administration from the University of Massachusetts and a Masters of Science in Finance from Boston College, and maintains a CPA license with the state of Massachusetts.

Mr. Sanford succeeds Tamara Wiseman, who returned to the OCC and reports directly to the Senior Deputy Comptroller for Midsize/Community Bank Supervision.

"Mr. Sanford's background and experience in bank supervision and examiner education make him particularly well suited for the position of FFIEC Executive Secretary," said Federal Reserve Board Governor Kroszner. "I am confident that we found a skilled leader who will build on the excellent work of Tamara Wiseman over the past several years."

The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions and to promote uniformity in the supervision of financial institutions. The Council has six voting members: the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Office of Thrift Supervision, and the State Liaison Committee. The Council's activities are supported by interagency task forces and by an advisory State Liaison Committee, comprised of five representatives of state agencies that supervise financial institutions.