CAROLE Y. BANKS, CPA, MBA

Carole Banks began her public service career in 2010 when she joined the Department of the Treasury. Ms. Banks serves as Treasury's Deputy Chief Financial Officer (DCFO), responsible for the Department's compliance with financial management and reporting guidelines as mandated by Congress. She provides advice to the Assistant Secretary for Management and other executives on all Department-wide financial management, financial reporting, financial systems, internal controls, and credit modeling.

Ms. Banks is the executive coordinator of the consolidated Department-wide annual financial audit and serves as the principal audit liaison to the Department's external financial auditor, KPMG LLP, as well as to Treasury's Inspector General and the U.S. Government Accountability Office. Ms. Banks serves as the principal liaison for all Treasury component Chief Financial Officers (CFOs) and chairs a monthly CFO Council meeting comprised of all Treasury CFOs to discuss an array of financial management topics. She also represents the agency at monthly government-wide CFO Council meetings chaired by the Office of Management and Budget.

Prior to becoming the DCFO, Ms. Banks served as a Senior Executive Director of Financial Reporting and Policy within the Office of the DCFO. Her principal role involved setting forth Department-wide financial accounting and reporting policy and guidance, and coordinating, planning and managing the Department-wide execution of financial closing cycles, and producing and disseminating Department-wide consolidated quarterly and annual financial reports to OMB, Congress, and to public constituents.

Prior to joining Treasury, Ms. Banks worked in the private sector where she led all aspects of financial management, including: (i) financial close cycles; (ii) external financial reporting to the Securities and Exchange Commission; (iii) designing, implementing, and monitoring financial reporting controls under Sarbanes-Oxley act of 2002; (iv) budgeting and forecasting; (v) business acquisitions financial modeling; and (vi) project management of business process re-engineering solutions. Her private sector work history includes (listed beginning with the most recent experience):

• Director, Accounting and Financial Reporting for Washington Gas;
• Controller for OptiGlobe Communications;
• Manager, Financial Reporting and Internal Controls for Freddie Mac;
• Assistant Controller/Financial Reporting Manager for Primark Corporation; and
• Senior Staff Auditor for Ernst & Young.

Ms. Banks is a native of the Washington, DC metropolitan area and holds a Masters of Business Administration in International Finance from The George Washington University (Washington, DC), and a Bachelor of Arts in Accounting from Oglethorpe University (Atlanta, GA). She was licensed in the state of Maryland as a Certified Public Accountant.