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Boateng to Serve as Interim Banking Director at DISB

Monday, April 19, 2010

Boateng to Serve as Interim Banking Director at DISB

Interim Associate Commissioner Boateng joined the Department of Banking and Financial Institutions (DBFI) in 2002, and became part of the Banking Bureau with the merger of DBFI into DISB in 2004.

Washington, DC — Since the recent February 2010 retirement of former Associate Commissioner for Banking Howard Amer, Financial Institutions Examination Officer Edna Boateng of the DC Department of Insurance, Securities and Banking (DISB) has been appointed to serve as the interim Associate Commissioner for Banking to provide for an orderly transition, and until a permanent replacement has been found for Amer.

“I am happy to serve the residents of the District of Columbia in this position,” said Interim Associate Commissioner Boateng, “and I look forward to working with the new Associate Commissioner in continuing to provide a wide variety of financial products and services to residents, and to continue our multilayered consumer protection activities.”

Interim Associate Commissioner Boateng joined the Department of Banking and Financial Institutions (DBFI) in 2002, and became part of the Banking Bureau with the merger of DBFI into DISB in 2004. Before accepting the interim position, she served as the Financial Institutions Examination Officer, responsible for all aspects of the bureau’s depository and non-depository examination function including the planning and conduct of examinations, the review of examination findings, training examiners, and the coordination of examinations with other state and federal financial institution supervisors. Her unit was responsible for processing all bank-related applications. As a senior management official, she has been directly involved in drafting and implementing policies and procedures for the bureau, and directed its daily operations in the absence of the associate commissioner.

“I am extremely pleased to have Edna Boateng head up this bureau,” said DISB Commissioner Gennet Purcell. “She is a highly qualified professional and has made some excellent decisions that will have positive long-lasting effects on the District’s consumers.”

Before DISB, Interim Associate Commissioner Boateng previously worked with the Division of Banks, Commonwealth of Massachusetts, as the principal bank examiner. Before that, she was an assistant lecturer at the Faculty of Law at the University of Ghana, and an assistant state attorney in the Attorney General’s Department in Ghana, West Africa. During that time, she served as a member/secretary to the then-Public Agreements Board of the Government of Ghana.

Interim Associate Commissioner Boateng earned a Bachelor of Laws from the University of Ghana, a professional law certificate from the Ghana School of Law, a Master of Laws from Harvard Law School, and a Master of Laws in international banking from the Boston University School of Law.  She has also completed all the training required by the Federal Institution Examination Council for financial institution examiners, in addition to several courses in the depository and non-depository areas.