FCSIC is managed by a presidentially appointed, Senate-confirmed board of directors composed of the members of the Farm Credit Administration (FCA) Board. The Chairman of FCSIC, however, must be a Board member other than the Chairman of the FCA Board. Jeffery S. Hall is the Chairman of the FCSIC Board of Directors.
FCSIC Board of Directors
Jeffery S. Hall
Glen R. Smith
Chief Operating Officer
Howard Rubin became FCSIC’s Chief Operating Officer in March 2021. As Chief Operating Officer, Mr. Rubin is responsible for implementing FCSIC's strategic direction as set by the Board of Directors. His responsibilities include insurance risk assessment, fund investments, policy formulation, regulations, and financial reporting.
Mr. Rubin served as FCSIC’s chief risk officer from 2019 to 2021, establishing standards and procedures for evaluating the risks posed to the Insurance Fund by institutions of the Farm Credit System and other sources and he served as general counsel from 2013 to 2019, advising the corporation’s board and staff on all legal matters affecting the corporation.
Before joining FCSIC as general counsel in 2013, Mr. Rubin served for three years as executive assistant and counsel to FCSIC Chairman and Farm Credit Administration (FCA) Board Member Kenneth Spearman. Previously, Mr. Rubin served as senior counsel and staff attorney in FCA’s Office of General Counsel for more than 10 years. Before joining FCA, Mr. Rubin was an attorney in private practice for nine years, specializing in bankruptcy and creditors’ rights law.
Mr. Rubin earned his Juris Doctor degree (cum laude) from the Washington College of Law of the American University.
Lynn M. Powalski
As FCSIC’s chief legal officer, Lynn Powalski is responsible for advising the Corporation’s board and staff on all legal matters affecting the Corporation. Ms. Powalski joined FCSIC as General Counsel in February 2019. Before joining FCSIC, Ms. Powalski held leadership positions at the Securities and Exchange Commission (SEC). She joined the SEC’s Division of Enforcement as an Assistant Chief Litigation Counsel in 2001, establishing the Division’s procedures for recovering monetary sanctions imposed in SEC enforcement actions. In 2008, Ms. Powalski was appointed as the Deputy Director of the Division’s newly formed Office of Collections and Distributions, which was established to collect monetary sanctions from securities law violators and to distribute those funds to the investors who were financially harmed. Most recently, she served as Deputy Secretary of the Commission where she was primarily responsible for overseeing the review and processing of rulemaking and administrative proceeding documents approved by the Commission and for advising the Commissioners and staff on questions of practice and procedure.
Before joining the SEC, Ms. Powalski was a trial lawyer for over 10 years at the Federal Deposit Insurance Corporation (FDIC) in the professional liability and litigation sections. Ms. Powalski began her government career at the Federal Home Loan Bank Board (FHLBB) as a trial attorney handling a variety of litigation arising from failed financial institutions. Ms. Powalski represented the FDIC and the FHLBB in litigation involving regulatory interpretation, account insurance determinations, and administrative law issues. She supervised and managed complex commercial litigation involving director and officer liability, attorney and accountant malpractice, fidelity bond matters, and cases involving the resolution of receivership assets.
Ms. Powalski received her law degree from the Washington College of Law of the American University where she was an editor of the Administrative Law Journal.
Andrew J. Grimaldi
Chief Financial Officer
Andrew Grimaldi is the Chief Financial Officer at the Farm Credit System Insurance Corporation and is responsible for the Corporation’s financial activities and leads the Financial Management Division. Andrew administers FCSIC’s annual revenue, including insurance premium assessments and investment income. He manages FCSIC’s cash and liquidity, oversees corporate accounting policy, budget and business plan development and financial reporting. Andrew is a licensed Certified Public Accountant and Attorney. He is also credentialed as a Certified Government Financial Manager and a Project Management Professional. He has extensive experience in accounting, internal controls, and managing teams. Prior to joining the FCSIC, Andrew was a Branch Chief at the Securities and Exchange Commission and while there led a number of system implementations to streamline and automate business processes. He also served as an auditor with the Government Accountability Office and KPMG.
Andrew obtained his B.S. in Accounting at Manhattan College and went to UDC David A. Clarke School of Law for his Juris Doctorate.
John F. Simonson
Chief Risk Officer
John F. Simonson joined FCSIC as Chief Risk Officer in October 2021. As Chief Risk Officer, Mr. Simonson is responsible for monitoring and evaluating risks posed to the FCSIC Insurance Fund by institutions of the Farm Credit System (FCS) and other sources, maintaining preparedness for the provision of financial assistance or management of receiverships or conservatorships of troubled FCS institutions, and overseeing the investment of the Insurance Fund.
Mr. Simonson brings over thirty years of financial services leadership experience in risk, finance, and capital markets in both the private sector and government service. Most recently he was a Financial Services Advisory Partner with PricewaterhouseCoopers (PwC) focused on risk and regulatory issues.
Before joining PwC, Mr. Simonson was a Deputy Director at the Federal Deposit Insurance Corporation (FDIC), responsible for implementing the FDIC’s Dodd-Frank resolution authorities. He also served as Chief Financial Officer for the U.S. Export-Import Bank.
Prior to his government service, Mr. Simonson spent 20 years as a banker in senior credit, capital markets and finance positions at Goldman Sachs, Chase, and Chemical Bank.
Mr. Simonson received his B.A. from Rice University (magna cum laude) and his MBA from the University of Chicago.
Chief Investment Officer/Senior Risk Analyst
As the Chief Investment Officer, Wade Wynn is responsible for managing FCSIC’s Insurance Fund. He also acts as a Senior Risk Analyst, monitoring risk in the Farm Credit System from an insurance perspective. Wade has been at FCSIC since February 2010. Prior to that, Wade worked for the Farm Credit Administration as a Senior Policy Analyst. Wade earned a bachelor’s degree from Texas Tech University and a Master of Business Administration from the University of Texas at San Antonio.
Asset Assurance Manager
Greg Smith joined FCSIC ‘s Risk Management Division in April 2016 to assist with the execution of FCSIC’s Board policy to identify and effectively deal with risks to investors and the insurance fund, including resolution of institutions placed into receivership or conservatorship by the Farm Credit Administration. Prior to joining FCSIC, Greg was a Senior Policy Analyst in the Federal Housing Finance Agency’s Division of Federal Home Loan Bank Supervision. Greg’s experience in the private sector includes seven years as a principal in the Corporate Risk Consulting Practice at Oliver Wyman, a leading global management consulting firm. Before that he was a principal consultant in the Management Consulting Services Practice at Price Waterhouse in Beijing where he assisted Chinese financial institutions modernize as the economy transitioned from a planned to a market-based economy. He began his career at the Office of the Comptroller of the Currency where his focus was prudential supervision of problem community and regional banks during the commercial real estate crisis of the 1990s.
Page updated: November 16, 2022