Forty percent of FDIC executives and 30 percent of managers are retirement-eligible. Image: DCStockPhotography/Shutterstock.com
By: FEDweek StaffTwenty-one percent of FDIC employees currently are eligible to retire, which is “significantly higher” than the government-wide average of 15 percent, and eligibility rates are still higher in managerial and executive positions as well as in certain critical roles, an IG report has said.
All FDIC divisions have eligibility rates higher than the government-wide average, and the rate is 36 percent in the Division of Resolutions and Receiverships, whose work is “critical in crises, because they work to resolve failed banks,” said a report on the agency’s management challenges.
Forty percent of executives and 30 percent of managers agency-wide meanwhile are retirement-eligible, along with a third of employees considered to be subject matter experts in risk areas related to consumer compliance matters, trusts and IT. Within five years, 38 percent of all current FDIC employees will be retirement-eligible, with rates even higher in those area, it said.
Meanwhile, the agency is experiencing higher than expected turnover among examiners-in-training, it said. The report did not specify a reason but noted that such turnover comes at a high cost to the agency since those employees typically spend four years in training before earning an examination commission.
“Without strategic workforce planning, retirements and resignations could result in the FDIC experiencing mission critical skills and leadership gaps,” it said.
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