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President Obama Announces Intent to Nominate ODU Graduate as Labor Department CFO

President Barack Obama on March 2 announced his intent to nominate Old Dominion University graduate James L. Taylor to the key administration post of chief financial officer in the Department of Labor.

Taylor, who earned a bachelor's degree in political science from ODU in 1978, has nearly 30 years of federal financial management experience. He currently serves as deputy inspector general for the Department of Homeland Security. From 1999-2005, he was the deputy chief financial officer and director for financial management at the Department of Commerce.

He previously served as the deputy chief financial officer and director for financial management at the Department of Commerce. In this role, he also acted as chair of the CFO Council Policies and Practices Committee. Under his direction, the Department of Commerce obtained the first of six clean financial statement audit opinions and reduced material weaknesses from 11 to 0. Taylor led the department's successful effort to obtain a "green" rating on the Financial Management Initiative of the President's Management Agenda.

Prior to his work at Commerce, Taylor held the position of deputy chief financial officer at the Federal Emergency Management Agency (FEMA), where he was directly responsible for all financial operations, with expenditures of more than $4 billion to $10 billion annually.

Immediately prior to joining FEMA, Taylor served as assistant administrator for the Federal Insurance Administration, a self-funded activity charged with managing the National Flood Insurance Program, where he was responsible for all financial, personnel, facilities, strategic planning and other administrative operations and policy.

During his tenure in the Department of Commerce, Taylor received the Presidential Rank Award for Distinguished Executive in 2004; the Donald T. Scantlebury Memorial Award for Excellence in Financial Management in 2005; the Gold Medal for Outstanding Achievement in Financial Management in 2003; and the Director's Award for Outstanding Achievement in 2000.

In addition to his ODU degree, Taylor holds an M.P.A. in finance from the University of Delaware.

This article was posted on: March 3, 2010

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