Weigand named SVP and general auditor at Minneapolis Fed

Kreg Weigand has been named general auditor and a senior vice president by the Board of Directors of the Federal Reserve Bank of Minneapolis. In this role, he will lead the Bank's internal audit department, which is charged with evaluating the adequacy and effectiveness of the organization's risk management, internal controls, and governance processes.

Weigand will report to the Minneapolis Board of Directors' Audit Committee.

Weigand is a seasoned executive with decades of corporate audit and risk management experience, most recently at Cargill. Prior to that, he was a partner at KPMG, where he focused on internal audit and enterprise risk management.

He holds a bachelor's degree in accounting from Saint John's University.

Weigand steps into the role following the retirement announcement of Tim Devaney.

The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation's central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin, and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.