WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors has appointed Patrick Mitchell to serve as Director of the Division of Insurance and Research (DIR) and Donna Saulnier to serve as Director of the Division of Finance (DOF).
“Pat Mitchell and Donna Saulnier bring decades of expertise to these roles. They are recognized leaders within our organization, and I look forward to working with them to continue advancing our priorities,” said Acting Chairman Martin J. Gruenberg.
Mr. Mitchell will oversee the FDIC’s economic, banking and policy research program and management of the Deposit Insurance Fund (DIF). DIR provides comprehensive statistical information on banking; identifies and analyzes emerging risks; conducts research that supports deposit insurance, banking policy, and risk assessment; addresses global financial issues of importance to the deposit insurance system; assesses the adequacy of the deposit insurance fund; maintains an effective and fair risk-based premium system; and conducts economic analysis for FDIC rulemaking. He has served as the Deputy Director for the Deposit Insurance and Risk Analysis area within DIR. Previously, he was the Associate Director for Asset Management and Chief of the Large Bank Pricing Section at the FDIC.
Prior to joining the FDIC, he was a Senior Portfolio Manager with Ambac Assurance Corporation and a credit analyst with Barclays Capital.
Mr. Mitchell is a CFA charterholder and earned an MBA from the University of North Carolina at Chapel Hill and a B.S. in Economics (Mathematical) from the United States Military Academy. He also attended the Senior Managers in Government program at the Harvard Kennedy School.
Ms. Saulnier will have direct responsibility for all Corporate financial operations, to include: providing efficient and timely financial reporting; overseeing the $123 billion Deposit Insurance Fund; coordinating the Corporation’s strategic and annual planning processes; overseeing workload and staffing analysis, budget formulation and execution, and cost management processes; developing and implementing the Corporation’s accounting, tax, and travel policies; and managing the Corporation’s treasury, investment, cash management, and deposit insurance assessment invoicing and collection processes. She will report directly to Bret Edwards, Deputy to the Chairman and Chief Financial Officer. Ms. Saulnier previously served as the Deputy Director, Treasurer, and Manager of the Assessment Operations Section. Her career with the FDIC has spanned almost 32 years.
Ms. Saulnier holds a Bachelor of Business Administration degree from the University of Massachusetts at Amherst, where she majored in Accounting. She is also a graduate of the Graduate School of Banking program at the University of Wisconsin-Madison. In addition, she successfully completed both the Federal Government’s Executive Leadership Program and the Women’s Executive Leadership Series at the Brookings Institute.