Department of Financial Institutions taps woman to run banking division

Roberta Hollinshead will become the first woman in history to lead the Washington State Department of Financial Institutions (DFI) Division of Banks when she assumes responsibilities on Thursday.

“My passion for community banking began in my undergraduate studies at the University of Washington,” said Hollinshead, who will be only one of 17 women banks directors in the nation. “I learned how community banks fuel the economy and support economic growth often in the communities that need access to financial services the most.”

“Regulating banks through the financial crisis was difficult and put a spotlight on the extremely valuable role the State plays in the regulatory process.”

Hollinshead replaces Rick Riccobono, who retired on Nov. 4. Hollinshead began her tenure with DFI in 2001 as an examiner and worked her way up the ranks. She has served as the chief of examinations of the Division of Banks since January of 2014.

She has a bachelor’s degree in business administration from the University of Washington, a master’s degree in business administration from Seattle University and a graduate banking certificate from the CSBS-Sponsored Graduate School of Banking at Colorado University.

“The stability of the community banking system is critical to the growth and vitality of the economy,” she said. “I understand the challenges facing the industry and will be responsive to our stakeholders’ concerns.”

Hollinshead was selected from a diverse field of applicants after a rigorous application process and interviews with two panels – a financial industry leaders’ panel and an internal panel of DFI staff.

“As program manager and chief of examinations at DFI, Roberta brings to this position extensive banking regulatory experience at a very high level, with a proven track record of strong leadership, forward thinking, and management accomplishments,” DFI Director Gloria Papiez said. “Ms. Hollinshead has a firm grasp of and appreciation for the role of the state banking system and of DFI’s commitment to promoting a stable and competitive financial system that enhances economic vitality.”