Steven O. App is the former Deputy to the Chairman and Chief Financial Officer (CFO) at the Federal Deposit Insurance Corporation (FDIC) -- retired May 2019. As a member of the senior leadership team, he served as a key advisor to the FDIC Chairman and Board, and brought over 40 years of experience in banking, finance, and insurance to this position. Prior to joining the FDIC in 2002, Mr. App served as the Deputy CFO at both the U.S. Treasury Department and the Department of Housing and Urban Development (HUD), after leaving the private sector as a Partner at Risk Concepts, Ltd., an international bank consulting firm. He started his career at the Federal Reserve Board. Mr. App holds BS and MBA degrees from the University of Maryland, and has completed the coursework for a Ph.D. in economics at George Mason University. He is also a graduate of the American Bankers Association’s Stonier Graduate School of Banking, a Certified Government Financial Manager (CGFM), a member of the World Future Society, and a Fellow at the National Academy of Public Administration (NAPA).
Mr. App and his wife Linda currently reside in Alexandria, Virginia and they have two adult sons.
- How did you get involved in public service?
No set plan, hard finding a job in the mid-70’s with returning Vietnam Vets/Oil Crisis—so took the best offer from the Federal Reserve in Washington DC/spent 12 years there before co-founding a Risk Management consulting firm in 1989/during the S&L crisis.
- Looking at the present and into the future, what do you think a public administration “Grand Challenge” is or might be?
I think my top 3 relate to NAPA Grand Challenges: #8—US National Debt; #10—Environmental Sustainability/Clean Water; and #12-Artifical Intelligence/Machine Learning and the effect on the future workforce/growing inequality
- Reflecting on your career, is there a highlight, a greatest accomplishment or a funny story you’d like to share?
Many highlights, accomplishments, and funny stories--but what stands out is the finance professionals I was fortunate to work with, the teams I was able to build, and, most importantly, the high quality of select individuals I was able to groom and replace me. Leaving a stronger organization in place to me is the best legacy.
- What is the best advice someone gave you?
Always stockpile talent when you can—the only thing better than talent is to see it in others.
- What inspires you?
Great leaders who, as Teddy Roosevelt said “Dare Mighty Things—rather than dwell in the great twilight that knows neither victory nor defeat”.
- What did/do you want to be when you grow up?
Who wants to grow up!
7. What was the last book you read?
The Globotics Upheaval : Globalization, Robotics, and the Future of Work—by Richard Baldwin
8. What was your first job?
1st professional job was with the Federal Reserve in DC, as an Operations Analyst for Payment Systems/Bank Operations (I.e., Cash, Checks, Electronic Transfers/ACH, etc.). Also, many early, non-professional jobs, but longest running one was working my way through University of MD undergraduate (BS’75)/graduate(MBA’76) programs for a masonary (brick, block, &concrete) construction firm.
9. What is the best part about where you live?
City of Alexandria is a nice blend of charming waterfront, close proximity to DC (inside the beltway!), and exciting/topical additions like the new Virginia Tech Innovation Campus (GO HOKIES!).
