Assistant Secretary of the Treasury for International Finance and Development

Last updated
Assistant Secretary of the Treasury for International Finance and Development
Flag of the United States Assistant Secretary of the Treasury.svg
Flag of an Assistant Secretary of the Treasury
Brent Neiman, Assistant Secretary of the Treasury.jpg
Incumbent
Brent Neiman
since March 15, 2023
Department of the Treasury
Style The Honorable
Reports to Under Secretary of the Treasury for International Affairs
Nominator President of the United States
Formation1977
Salary$155,500 (2010) [1]
Website Official website

The Deputy Under Secretary / Designated Assistant Secretary of the Treasury for International Finance is a senior position within the United States Department of the Treasury responsible for advising the Secretary of the Treasury on matters of international finance and economic coordination, and overseeing U.S. participation in international financial institutions. [2] The Assistant Secretary is appointed by the President and confirmed by the Senate. The office is currently held by Brent Neiman.

Contents

Overview

The Assistant Secretary is in charge of the Office of International Finance and Development, one of two principal components of the Office of International Affairs within the U.S. Department of the Treasury. He or she oversees seven deputies each with their own Deputy Assistant Secretary, over a dozen offices, and more than 100 personnel. [3] Occupants also hold the rank of Deputy Under Secretary / Designated Assistant Secretary. [4]

Structure

The Deputy Under Secretary / Designated Assistant Secretary reports to the Under Secretary for International Finance and oversees work by the following senior officials:

Duties

The Assistant Secretary leads the development and implementation of policies in the areas of international finance, economic development, bilateral and regional economic engagement, and international debt. The Assistant Secretary also oversees G-7 and G-20 coordination, currency policy, and serves as an economic emissary to foreign governments. It also leads the development of policies on U.S. participation in the International Monetary Fund, the World Bank, and the other multilateral development banks (including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development). [5]

List of Assistant Secretaries for International Finance, 1977—present

NameAssumed officeLeft office President served under
C. Fred Bergsten 19771981 Jimmy Carter
Marc E. Leland19811984 Ronald Reagan
David C. Mulford 19841987 Ronald Reagan
Hollis S. McLoughlin 19871989 Ronald Reagan and George H. W. Bush
Charles H. Dallara 19891991 George H. W. Bush
Olin L. Wethington 19911993 George H. W. Bush
Jeffrey Richard Shafer 19931995 Bill Clinton
David A. Lipton 19951997 Bill Clinton
Timothy Geithner 19971999 Bill Clinton
Edwin M. Truman 19992001 Bill Clinton
Randal Quarles April 2001August 8, 2005 George W. Bush
Clay Lowery 20052009 George W. Bush
Charles Collyns20102013 Barack Obama
Ramin Toloui 20142017 Barack Obama
Geoffrey Okamoto (acting)July 2018March 19, 2020 Donald Trump
Brent Neiman March 15, 2023Incumbent Joe Biden

See also

Related Research Articles

<span class="mw-page-title-main">United States Secretary of the Treasury</span> Head of the United States Department of the Treasury

The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal advisor to the president of the United States on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of the president's cabinet and, by law, a member of the National Security Council.

<span class="mw-page-title-main">United States Department of the Treasury</span> United States federal executive department

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and minting coins, while the treasury executes currency circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes.

<span class="mw-page-title-main">Treasurer of Australia</span> Australian government minister in charge of economic policy

The treasurerof Australia, also known as the Federaltreasurer or simply the treasurer, is the minister of state of the Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury. The current treasurer is Jim Chalmers, who was selected by Prime Minister Anthony Albanese in May 2022 following the 2022 Australian federal election.

<span class="mw-page-title-main">Office of Intelligence and Analysis (Treasury Department)</span> Agency of the United States Department of the Treasury

The Office of Intelligence and Analysis (OIA) is a component of the United States Department of the Treasury responsible for the receipt, analysis, collation, and dissemination of foreign intelligence and counterintelligence information related to the operation and responsibilities of the Treasury Department.

<span class="mw-page-title-main">Under Secretary of State for Economic Growth, Energy, and the Environment</span> U.S. government position

The Under Secretary for Economic Growth, Energy, and the Environment is an undersecretary position within the United States Department of State. The Under Secretary for Economic Growth, Energy, and the Environment serves as senior economic advisor at the State Department and advises the Secretary of State on international economic policy and is often referred to as the senior economic diplomat of the United States. The Under Secretary also leads the work of the department on trade, agriculture, aviation, and bilateral trade relations with America's economic partners.

<span class="mw-page-title-main">Under Secretary of the Treasury for Domestic Finance</span>

The Under Secretary of the Treasury for Domestic Finance is a high-ranking position within United States Department of the Treasury that reports to, advises, and assists the Secretary of the Treasury and the Deputy Secretary of the Treasury. The under secretary leads the department's policy on the issues of domestic finance, fiscal policy, fiscal operations, government assets, government liabilities, and other related economic and fiscal matters.

<span class="mw-page-title-main">Under Secretary of the Treasury for International Affairs</span> Under Secretary of the Treasury for International Affairs

The Under Secretary of the Treasury for International Affairs is a high-ranking position within United States Department of the Treasury that reports to, advises, and assists the Secretary of the Treasury and the Deputy Secretary of the Treasury on international economic issues and is often referred to as the U.S. Treasury’s top economic diplomat. As of January 13, 2023, the under secretary is Jay Shambaugh.

<span class="mw-page-title-main">Department of Finance (Philippines)</span> Executive department of the Philippine government

The Department of Finance is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public sector debt, and the rationalization, privatization and public accountability of corporations and assets owned, controlled or acquired by the government.

<span class="mw-page-title-main">United States Assistant Secretary of the Treasury</span> United States federal position

A United States Assistant Secretary of the Treasury is one of several positions in the United States Department of the Treasury, serving under the United States Secretary of the Treasury.

The Office of Financial Markets is an office of the United States federal government in the United States Department of the Treasury. OFM serves as the department's advisor on broad matters of domestic finance, financial markets, Federal, State and local finance, Federal Government credit policies, lending and privatization.

The Office of Fiscal Service (OFS) is an agency of the United States federal government in the United States Department of the Treasury. The office is led by the Fiscal Assistant Secretary of the Treasury. The Fiscal Assistant Secretary reports to the United States Secretary of the Treasury through the Under Secretary of the Treasury for Domestic Finance.

<span class="mw-page-title-main">Randal Quarles</span> American private equity investor and attorney (born 1957)

Randal Keith Quarles is an American private equity investor and attorney who served as the first Vice Chair of the Federal Reserve for supervision from 2017 to 2021. He concurrently served as the chair of the Financial Stability Board from 2018 to 2021.

<span class="mw-page-title-main">Earl Anthony Wayne</span> American diplomat

Earl Anthony Wayne is an American diplomat. Formerly Assistant Secretary of State for Economic and Business Affairs, Ambassador to Argentina and Deputy Ambassador to Afghanistan, Wayne served nearly four years as Ambassador to Mexico. He was nominated by President Obama and confirmed by the Senate in August, 2011. He departed Mexico City for Washington July 31, 2015 and retired from the State Department on September 30, 2015. Wayne attained the highest rank in the U.S. diplomatic service: Career Ambassador. He is currently a Professorial Lecturer and Distinguished Diplomat in Residence at American University's School of International Service where he teaches courses related to diplomacy and US foreign policy. Wayne also works with the Woodrow Wilson International Center for Scholars, the Atlantic Council, the Center for Strategic and International Studies,. Wayne is co-chair of the Mexico Institute's Advisory Board at the Wilson Center. He is also on the board of the American Academy of Diplomacy and the Public Diplomacy Council of America. Wayne is an independent consultant, speaker and writer and works with several not-for-profit professional associations. He was an adviser for HSBC Latin America on improving management of financial crime risk from 2015 until 2019 and served on the board of the American Foreign Service Association from 2017 to 2019.

According to statute, the Fiscal Assistant Secretary is appointed by the United States Secretary of the Treasury. The Fiscal Assistant Secretary is the highest ranking career official in the Department of the Treasury. The Fiscal Service, which the Fiscal Assistant Secretary heads, includes the Bureau of Government Financial Operations (which since 1984 has been known as the Financial Management Service and the Bureau of the Public Debt.

<span class="mw-page-title-main">Karen Dynan</span> American economist

Karen Dynan is an American economist who is Professor of the Practice of Economics at Harvard University and a Non-resident Senior Fellow at the Peterson Institute for International Economics. She previously served as the Assistant Secretary of the Treasury for Economic Policy and Chief Economist of the United States Department of the Treasury, having been nominated to that position by President Barack Obama in August 2013 and confirmed by the U.S. Senate in June 2014. From 2009 to 2013, Dr. Dynan was the Vice President and Co-director of the Economic Studies program at the Brookings Institution. Prior to joining Brookings, she served on the staff of the Federal Reserve Board for 17 years. Dr. Dynan is an expert on macroeconomic policy, consumer behavior, household finance, and housing policy.

<span class="mw-page-title-main">Ramin Toloui</span> American government official

Ramin Toloui is an American academic, civil servant, and financial advisor who serves as Assistant Secretary of State for Economic and Business Affairs in the Biden Administration.

<span class="mw-page-title-main">Adam Lerrick</span> American economist and government official

Adam Lerrick is an American economist and government official currently serving as Counselor to the Secretary of the Treasury, having previously been President Donald Trump's nominee for Assistant Secretary of the Treasury for International Finance. Lerrick has served as an economist at the American Enterprise Institute.

<span class="mw-page-title-main">Geoffrey Okamoto</span> American economist and government official (born 1985)

Geoffrey William Seiji Okamoto is an American economist and government official who served as first deputy managing director of the International Monetary Fund. Okamoto previously served as the acting assistant secretary for international finance and development in the United States Department of the Treasury. He was nominated for this position on January 1, 2019, by the White House and was never confirmed by the United States Congress. He previously served as acting assistant secretary for international markets and investment, for which he was also not confirmed.

<span class="mw-page-title-main">Andy Baukol</span> American politician

Andrew P. Baukol is an American financial policy advisor who served as the acting United States secretary of the treasury for the first week of the Biden administration. Baukol served in an interim capacity until Biden's nominee, Janet Yellen, was confirmed by the United States Senate. He then became Treasury's acting Under Secretary for International Affairs.

References

  1. "David Samuel Cohen". Search Federal Pay. Feds Data Center. Retrieved 29 April 2016.
  2. "International Affairs". www.treasury.gov. Retrieved 2018-07-27.
  3. "Presidential Transition: Deputy Under Secretary / Designated Assistant Secretary for International Finance".
  4. "31 U.S. Code § 301 - Department of the Treasury". LII / Legal Information Institute. Retrieved 2018-07-27.
  5. "Ramin Toloui Confirmed as Treasury Assistant Secretary for International Finance". www.treasury.gov. Retrieved 2018-07-27.