Annual Election Process for Board of Directors
Voting in the 2023 director election begins on September 20, 2023 and will close on October 27, 2023. Members will be notified of election results on or around November 3, 2023.
About the FHLB Des Moines Board of Directors
The FHLB Des Moines Board of Directors is comprised of 22 directors: 13 member directors and nine independent directors (two of which are designated as public interest independent directors) representing our 13-state district.
FHLB Des Moines is committed to promoting diversity, equity and inclusion in all activities across our district, including membership on our Board of Directors. Broadening Board composition through diversity allows us to gain new insights about markets and business practices. As a result, we strongly encourage members to consider minorities, women and individuals with disabilities when nominating or soliciting nominees for positions on our Board.
Independent Director Requirements and Qualifications
Independent Director Candidate Eligibility Requirements
- Candidate must be a U.S. citizen and maintain a principal residence within the Bank’s district, or own or lease a residence in the district and be employed in the district.
- Candidate may not be an officer of any Federal Home Loan Bank or a director, officer or employee of any Bank member institution or of any recipient of Bank advances.
- Candidate must have knowledge of, or experience in, financial management, auditing or accounting, risk management practices, derivatives, project development, organizational management or the law.
Independent directors designated as “public interest” directors must have more than four years of personal experience in representing consumer or community interests in banking services, credit needs, housing or consumer financial protection.
Desired Director Attributes
The Board of Directors has identified certain skills and experience that one or more of its members ideally possess to help ensure the Board as a whole is able to effectively carry out its oversight responsibilities. These skills are set forth in the Bank’s Board-approved Corporate Governance Principles.
In 2023 the Board conducted an assessment of the skills and experience possessed by its members to determine whether the capabilities of the Board as a whole could be enhanced through the addition of individuals with particular areas of expertise. The Executive and Governance Committee of the Board (Committee) conducted the assessment and generally concluded that the skills and expertise of Board members aligned with the desired skills. However, the Committee also determined that director candidates with expertise in the following areas could further strengthen the Board’s capabilities:
• Enterprise-wide, credit, market, liquidity, compliance, operations and business risk management
• Public policy and government relations
• Capital markets, capital markets transactions, debt instruments, mortgages and other related investments, and derivatives transactions
• Management of Diversity Programs and Initiatives
Nomination and Election Process
The nomination period for member director nominees and application period for independent director applicants has closed for 2023.
The FHLB Des Moines General Information Statement provides a timeline of events related to the 2023 election and general information about FHLB Des Moines and our Board of Directors.
Individuals interested in applying for an independent director position who missed the application deadline may provide their contact information to email@example.com to be added to our candidate pool for future election cycles.