Carole Banks began her public service career in 2010 when she joined the Department of the Treasury. Since 2017, Ms. Banks has served as the Deputy Chief Financial Officer (DCFO) within Departmental Offices, 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 control, and credit modeling.
Prior to 2017, 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. She was the executive coordinator of the consolidated Department-wide annual financial audit, and served 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.
Prior to joining Treasury, Ms. Banks started her career as an auditor for Ernst & Young, and then transitioned into the private sector where she held leadership roles in 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.
Ms. Banks is a native of the Washington, DC metropolitan area and holds a Masters of Business Administration in International Finance from George Washington University (Washington, DC), and a Bachelor of Arts in Accounting from Oglethorpe University (Atlanta, GA). She was licensed in Maryland as a Certified Public Accountant.