Department of Financial Institutions
Financial Institutions Commissioner Earns National Board Appointment

Press Release Date:  Friday, May 08, 2009  
Contact Information:  Kelly May, Public Information Officer
502-573-3390 x252
800-223-2579 x252
kelly.may@ky.gov
 


   FRANKFORT, KY (May 8, 2009) – Kentucky Department of Financial Institutions (DFI) Commissioner Charles A. Vice has been appointed to a national board and committee and also represents bankers as a district leader.

   Vice takes on these leadership roles through the Conference of State Bank Supervisors (CSBS), the nationwide organization representing state bank regulators.

   Vice has been appointed to CSBS’ Educational Foundation of State Banking Supervisors Board of Trustees. The foundation sponsors professional training programs specifically designed by and for state banking department examiners and senior staff. Through these programs, state banking departments can receive quality training at an affordable cost. This training is offered regionally and addresses different needs between states.

   The foundation’s board of trustees, on which Vice will now serve, makes policy and funding decisions. Registration fees and earnings from the foundation’s endowment pay the overhead expenses. Also, funds contributed to this tax-exempt organization are used by board direction and policy to underwrite the cost of training. This funding structure ensures that training can still be offered regardless of economic conditions.

   “Examiner training is vital to successfully overseeing the financial industry in Kentucky. However, budget restraints caused by bad economic conditions can impact our ability to participate in needed training. The foundation assures that training is available and affordable,” Vice said. “A well-trained state bank examination staff is a prerequisite for an effective financial institution regulatory agency and for a dynamic and profitable banking community.”

   Vice also was recently appointed to serve as a member of the CSBS Federal Financial Institution Examination Council (FFIEC) State Liaison Committee and as vice chairman of the CSBS District II region.

   The role of the District II vice chairman is to help represent the views of the district members at Board of Directors meetings and act as communication liaison between the board and the district members. Some of the issues that may come up could include federal or state legislation, banking institution memberships, state bankers association memberships, associate memberships, conference meetings and the Education Foundation of State Bank Supervisors. CSBS is organized into five districts. District II comprises Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Ohio and Wisconsin.

   FFIEC is a formal interagency body empowered to prescribe uniform principles, standards and report forms for the federal examination of financial institutions. Vice’s role on the FFIEC State Liaison Committee is to provide guidance to determine CSBS’ role in participating in FFIEC.

   Vice was appointed commissioner of DFI in August 2008. Before that he was a bank examiner for the Federal Deposit Insurance Corporation for 18 years, serving the Lexington field office. He holds a Bachelor of Science in finance from the University of Southern Mississippi, and he successfully completed the Louisiana State University Graduate School of Banking.

   CSBS is responsible for defending state authority to determine banking structure and the products and services state-chartered institutions can offer and for improving the quality of state bank supervision by providing department performance evaluation and accreditation programs and supervisory education/training programs for state banking department personnel.

   DFI is an agency in the Public Protection Cabinet. It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.

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