FDIC names three members to special committee overseeing review of workplace culture in wake of sexual harassment claims

A third-party review of the workplace culture for the federal bank deposit insurance agency will be overseen by three non-voting members who were named Friday, the agency announced.

Linda Miller, Elizabeth McCaul and Valerie Mosley will be the committee members, the Federal Deposit Insurance Corp. (FDIC) said. Their role, the agency said, will be to provide advice and counsel to a special committee of FDIC Board members, which was created in November. The special committee is made up of FDIC Board Members Jonathan McKernan and Michael J. Hsu, who also heads up the Office of the Comptroller of the Currency (OCC).

The special committee is aiming to complete its independent review in the second quarter of this year, the agency said.

Late last year, the FDIC Board appointed the special committee to oversee an independent review of workplace culture at the agency amid ongoing reporting on past allegations of sexual harassment and other misconduct at the FDIC. The committee was slated to have five members, with McKernan and Hsu as co-chairs. Three other members were to be appointed to “to advise and promote a diversity of views,” according to a statement issued by the co-chairs., who added that “the review will be fully independent and those conducting it will report directly and exclusively to the special committee.”

FDIC Chairman Martin Gruenberg, in a statement last year, said he welcomed and supported establishment of the committee and that the committee has “full authority” to carry out its review. He added that he will “play no role” in overseeing the review.

More details about the three non-voting special committee members appointed Friday included:

  • Miller is the CEO of Audient Group, a services firm specializing in anti-fraud solutions for commercial and government clients. She has served in executive roles in the government, including as deputy executive director of the Pandemic Response Accountability Committee. She also spent 10 years at the Government Accountability Office (GAO).
  • McCaul is a member of the Supervisory Board of the European Central Bank. From 1997 to 2003, she served as the New York Superintendent of Banks, initially in an acting capacity and in 2000 was confirmed. She chaired the Conference of State Bank Supervisors (CSBS) in 2001 and 2002. She previously held executive roles at Promontory, leading its New York office and then serving as CEO of the firm’s European operations.
  • Mosley is the founder of BrightUp and Valmo Ventures, both investment firms. Before that, she served in executive roles at Wellington, a global money management firm. Mosley serves on the board of directors of several large companies and the New Profit Social Venture Fund. She previously served on the board of the New York State Common Retirement Fund.

FDIC Special Committee of the Board of Directors Appoints Three Non-Voting Members