CDFI Fund Announces the Appointment of Dennis Nolan to Serve as its Deputy Director

Washington, DC - Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell today announced the appointment of Dennis Nolan to serve as the Deputy Director of the CDFI Fund beginning Monday, October 24, 2011.

As the Deputy Director, Mr. Nolan is responsible for taking the lead in developing policies, operating procedures, internal controls, and short- and long-range strategic plans, as well as coordinating, evaluating and enhancing the CDFI Fund's programs.

"I am pleased to welcome Dennis to the CDFI Fund team," said Director Gambrell. "With his arrival our senior management team is fully in place, and we are well positioned to move forward in fiscal year 2012. Dennis's years of experience and expertise in community and economic development policies, administration, and finance will be instrumental to the CDFI Fund's future success."

Prior to the CDFI Fund, Mr. Nolan was Deputy Chief Financial Officer in the Department of Administration and Finance at the Millennium Challenge Corporation (MCC), which is an independent U.S. foreign aid agency focused on the fight against global poverty. At MCC, Mr. Nolan was responsible for financial management, budget formulation and execution, strategic planning, compliance, and reporting and analysis in support of the agency's mission. Additionally, he served as MCC's Deputy Vice President in the Department of Administration and Finance from January 2008 to November 2010.

Mr. Nolan also has over 25 years of experience in federal financial management. Prior to the MCC, he was the Deputy Director in the Office of Financial Management at the Environmental Protection Agency (EPA), where he was responsible for all aspects of EPA's financial management program, including policy development, systems, reporting, and cost management.

Mr. Nolan also served for over 10 years at the Federal Deposit Insurance Corporation (FDIC) in various positions, including Director of Resolution Analysis, Special Assistant to the Chief Financial Officer, and Special Assistant to the Director of the Division of Finance. At the FDIC, he played a key role in the development of FDIC's loan securitization program, financial analysis of failed financial institutions, and financial systems implementation. He also served at the Resolution Trust Corporation (1990-2002), and at the Federal Savings and Loan Insurance Corporation (1986-1989).

Before joining the federal government, Mr. Nolan spent two years in public accounting and was the Chief Financial Officer of a 13-branch bank in Florida. Mr. Nolan holds a Bachelor's degree in Accounting from the University of South Florida.