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Mission
Prevent, deter, and detect waste, fraud, abuse, and misconduct in FDIC programs and operations; and to promote economy, efficiency and effectiveness at the Agency.
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Vision
Serving the American people as a recognized leader in the Inspector General community: driving change and making a difference by prompting and encouraging improvements and efficiencies at the FDIC, helping to preserve the integrity of the agency and the banking system, and to protect depositors and financial consumers.
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Values
Integrity, Independence, Accuracy, Fairness, Objectivity, Accountability, Transparency, Professionalism, and Judgment.
The Federal Deposit Insurance Corporation (FDIC) was created to maintain stability and public confidence in the nation's financial system by insuring deposits; examining and supervising financial institutions for safety and soundness and consumer protection; making large and complex financial institutions resolvable; and managing receiverships.
The FDIC OIG is an independent office that conducts audits, evaluations, investigations, and other reviews of FDIC programs and operations.
Learn more about the FDIC OIG:
(Current as of January 2019)
(Current as of April 2024)
Learn more about the FDIC OIG Office of Audits, Evaluations, and Cyber:
(Current as of April 2024)
Learn more about the FDIC OIG Office of Investigations:
(Current as of April 2024)
Inspector General
On December 22, 2023, Jennifer L. Fain was appointed by President Joseph R. Biden, Jr. to be the fourth Presidentially-appointed Inspector General of the Federal Deposit Insurance Corporation (FDIC). Ms. Fain oversees the Office of Inspector General, which is an independent office that conducts investigations of potential fraud and other crimes related to insured financial institutions and closed banks. The office also works to detect and deter waste, fraud, and abuse at the FDIC, while promoting economy and efficiency at the agency.
Ms. Fain has served for over 22 years in the Inspector General Community, including most recently as Deputy Inspector General for the Export-Import Bank of the United States (EXIM) within the Office of the Inspector General (OIG). Prior to that role, she served for nearly three years as Acting Inspector General (IG), where she led a team of auditors, investigators, and analysts providing independent oversight of EXIM’s programs and operations.
Go to Inspector General Jennifer L. Fain's full biography.
OIG Executives
(Full biographies available here: Meet the OIG Executives)
Tyler Smith - Deputy Inspector General
Michael McCarthy - General Counsel
Terry Gibson - Assistant Inspector General for Audits, Evaluations, and Cyber
Shimon Richmond - Assistant Inspector General for Investigations
Bronzwyn Palmer - Assistant Inspector General for Management
Organization Chart
The Immediate Office consists of the Inspector General, Deputy Inspector General, Chief of Staff, and Advisors. The Immediate Office communicates and provides reports to the FDIC Chairman, Board of Directors, Congress, and other stakeholders; leads Office-wide strategic planning; handles OIG communications, including the Office websites and social media; collaborates with the OIG’s workforce; coordinates and supports the efforts of diversity, equity, inclusion, and accessibility in the workplace; provides education and training on whistleblower rights and protections; coordinates research and issuance of the Top Management and Performance Challenges Facing the FDIC; leads and coordinates Congressional relations; collaborates with colleagues in the IG community; and handles priority issues as they arise.
The General Counsel is responsible for providing independent legal guidance and advice to the IG and our Office. The General Counsel also reviews audits, evaluations, and investigations for legal considerations; represents the OIG in personnel matters; coordinates responses to requests made pursuant to the Freedom of Information Act; prepares Inspector General subpoenas for issuance; engages with Members of Congress and their staff; and reviews legislation, regulations, and policies.
Audits, Evaluations, and Cyber (AEC) conducts audits, evaluations, and reviews to examine FDIC programs and operations, assess their efficiency and effectiveness, and make recommendations for improvements at the Agency. These projects examine the FDIC’s compliance with laws, regulations, and best practices; evaluate the FDIC’s IT programs and information and cyber security; review failed banks; and alert FDIC management to concerns. The AEC division also tracks FDIC actions on OIG recommendations; formulates audit and evaluation policies and procedures; and conducts quality assurance activities.
Learn more about the Audits and Evaluations Assignment Process.
Federal Inspectors General are required to engage in peer review processes related to their audit operations. The IG community has also implemented a peer review program for the inspection and evaluation functions of an OIG as well. View the FDIC OIG's Audit and Evaluation Peer Review Results.
Our Office of Investigations is responsible for carrying out a comprehensive nationwide program for the detection and investigation of criminal, civil, and administrative misconduct impacting FDIC programs and operations. We focus on alleged violations of criminal and civil statutes, as well as administrative misconduct affecting FDIC programs and operations. We investigate complex and sophisticated crimes that affect the safety and soundness of financial institutions around the country, including bank fraud, money laundering, embezzlement, cybercrime, ransomware, cryptocurrency, hacking, currency manipulation, and other financial misconduct. The Investigations component is comprised of seven field offices in Atlanta, Chicago, Dallas, Kansas City, New York, Mid-Atlantic and San Francisco Regions, the Electronic Crimes Unit and Headquarters Operations. We also maintain and monitor a Hotline to receive complaints and allegations about fraud, waste, abuse, misconduct, and mismanagement at the FDIC.
Report waste, fraud, abuse, misconduct, and mismanagement to the FDIC OIG Hotline: OIG Hotline.
Find out more about the Office of Investigations (Current as of April 2024):
Alert: Beware of Impersonation Scams Claiming to be from the FDIC or FDIC OIG:
The FDIC OIG is publicly posting its policy on Body Worn Cameras pursuant to the President’s Executive Order on Advancing Effective, Accountable Policing and Criminal Justice Practices to Enhance Public Trust and Public Safety (May 25, 2022):
Our Management function is comprised of: (i) Management Services, which provides business and administrative support for the OIG, including budgeting and financial resources; contracting and acquisition; facilities; records retention; emergency planning; (ii) Human Resources, which leads the efforts on hiring personnel, employee benefits, awards and recognition, and timekeeping responsibilities; and (iii) Information Technology, which leads the development and implementation of the information technology infrastructure and ensures an effective security posture supporting our statutory independence. We also have a Data Analytics Officer, and an Engagement and Learning Officer who provides professional and leadership development programs for the OIG workforce, including group dynamics, effective communications, and performance enhancement.
Our office has evolved from its earliest composition as a group of internal audit and investigative staff to an office now headed by a Presidentially appointed and Senate confirmed IG, comprised of a skilled staff of auditors, evaluators, attorneys, analysts, human resource specialists, IT professionals, and special agents with full law enforcement authority.
On March 14, 1989, an FDIC Board resolution recognized that the Inspector General Act Amendments of 1988 required the Corporation to establish an OIG with an IG who functions under the general supervision of the Chairman, and established that position as of April 17 of that year. The FDIC’s former Office of Corporate Audits and Internal Investigations (OCAII) was re-designated the OIG. The Director of OCAII became Inspector General, and the incumbent Director, Robert Hoffman, was designated Acting IG and then IG. Mr. Hoffman retired in 1993 and James Renick was selected by Acting Chairman Andrew “Skip” Hove to serve as IG.
In 1993, the Congress designated the IG position at the FDIC as a Presidential appointment, and Mr. Renick was named as Acting IG. On April 29, 1996, Gaston L. Gianni, Jr. became the FDIC’s first IG appointed by the President. Jon Rymer was sworn in as the second presidentially appointed IG on July 5, 2006 and resigned to become the Department of Defense IG on September 27, 2013. Fred W. Gibson, Jr. was named Acting IG following Mr. Rymer’s departure and served in that capacity for more than 3 years. On January 9, 2017, Jay N. Lerner was sworn in as the FDIC Inspector General, and Mr. Gibson assumed his former role as Principal Deputy Inspector General.
1974
The Office of Management Systems and Financial Audits consisted of eight people and was headed by Robert E. Barnett—who later became Chairman of the FDIC. This office conducted all audits and information technology operations for the Corporation. No Audit Committee existed and staff did not work under professional accounting and auditing and U.S. Government Accountability Office standards.
October 1975
The office became the Office of Corporate Audits, and, by 1979, began developing an investigative function.
December 6, 1982
In a Board Resolution, the responsibilities of the Office of Corporate Audits were redefined and the name was changed to Office of Corporate Audits and Internal Investigations (OCAII). The office reported to the Appointive Director (that is—the Director representing the political party not in power at the time) and the Budget and Management Committee—comprised of Division and Office heads from the Corporation. This organizational relationship did not prove to be an ideal one.
May 18, 1984
A Board resolution established that OCAII would report to the Chairman and laid out the responsibilities of a new Audit Committee.
April 17, 1989
The provisions of a Board Resolution that was signed on March 14, 1989, became effective. This resolution recognized that the Inspector General Act Amendments of 1988 required the Corporation to establish an Office of Inspector General (OIG) with an Inspector General (IG) who would function under the general supervision of the Chairman. OCAII was redesignated the OIG. The position of Director of OCAII became Inspector General, and the incumbent Director, Robert Hoffman, was designated Acting IG and then IG.
August 1989
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 established that the Federal Home Loan Bank Board (FHLBB) OIG would merge with the FDIC OIG. By October 1989, many FHLBB staff had joined the FDIC.
1993
Robert Hoffman retired and James Renick was selected by Acting Chairman Andrew C. Hove, Jr. to serve as Inspector General.
December 17, 1993
Congress amended the IG Act through passage of the Resolution Trust Corporation (RTC) Completion Act, which included designating the IG position at the FDIC a Presidential appointment. James Renick began to serve as Acting Inspector General.
January 1, 1996
The RTC’s sunset in December 1995 led to a number of RTC OIG staff merging back into the FDIC OIG.
April 29, 1996
Gaston L. Gianni, Jr. became the FDIC’s first presidentially appointed IG, appointed by President William J. Clinton.
December 2004
Gaston L. Gianni, Jr. retired from federal service and named Patricia M. Black, his Deputy IG, as Acting IG.
January 2005
Patricia Black began service as Deputy and Acting IG.
February 14, 2006
Jon T. Rymer was nominated by President George W. Bush to be FDIC IG.
June 22, 2006
Jon T. Rymer was confirmed by the Senate as FDIC IG.
July 5, 2006
Jon T. Rymer was sworn in as FDIC IG.
September 27, 2013
Jon Rymer resigned as FDIC IG to become Department of Defense IG and named Principal Deputy IG, Fred W. Gibson, Jr. as Acting IG.
April 17, 2014
25th Anniversary of FDIC OIG.
January 9, 2017
Jay N. Lerner was sworn in as the third Presidentially-appointed FDIC IG.
April 17, 2019
30th Anniversary of FDIC OIG.
January 27, 2023
Jay N. Lerner retired from federal service and named Tyler Smith, his Deputy IG, as Acting IG.
January 27, 2023
Tyler Smith began service as Acting Inspector General and subsequently Deputy Inspector General (Performing the Duties of Inspector General).
December 22, 2023
Jennifer L. Fain became the fourth Presidentially-appointed FDIC IG.