Bull Bear Report Dec 23 2009

FDIC: What it Will Look for in its 1,600 New Hires

By yoree koh

The Federal Deposit Insurance Corp. is looking to double up on manpower as the number of shaky banks continue to climb.

The agency recently announced plans to add 1,600 staffers to its ranks mostly to help wind down troubled banks. The 2010 additions could bring the agency's workforce levels to 8,653, according to an agency presentation made to the FDIC Board of Directors.

The agency is looking to add staff with "a variety of backgrounds in support of our bank examination, consumer protection and resolution activities, including loan review specialists, compliance analysts, resolutions and receivership skills, asset marketing, and attorneys and paralegals with experience in resolutions and receivership legal matters," wrote FDIC spokesperson Greg Hernandez in an email.

Specific positions will continue to be announced throughout next year on the FDIC Web site.

FDIC representatives will conduct recruitment across the country. A portion of the staffing increases will occur in the agency's office in Dallas, Tex., as well as its temporary satellite offices in Irvin, Calif., and Jacksonville, Fla, with additional locations still to be determined.

Almost all of the new staffers will be hired as temporary workers. In most situations, the appointments will span two years, with the possibility of extensions up to an additional two years depending on the agency's workload needs.

"Depending on the long-term workload, succession management and program needs of the FDIC, a number of these non-permanent employees will have the opportunity to compete for permanent positions with the agency," said Hernandez.

The number of permanent positions that will be up for grabs is not known at this time.

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