June 21, 2006
LANSING – Governor Jennifer M. Granholm today announced the appointment of John D. Walter as chief compliance officer for the 21st Century Jobs Fund programs administered by the Michigan Strategic Fund and the Strategic Economic Investment and Commercialization Board. The appointment was made by the State Administrative Board.
Walter, of East Lansing, is an assistant attorney general and currently serves as a senior attorney in the criminal division of the Department of Attorney General.
"As the Michigan Strategic Fund advances efforts to diversify our economy and create jobs with loans and investments from the new Jobs for Michigan Investment Fund, John's integrity, leadership role in investigations and prosecutions, and proven ability to work effectively with state departments and agencies make him an excellent fit for this important new position," Granholm said. "With over 25 years experience as an attorney in both the public and private sectors, John has stellar credentials and expertise in complex securities and financial litigation."
As chief compliance officer, Walter will head the Office of the Chief Compliance Officer within the Michigan Strategic Fund. He will be responsible for assisting the Fund with the creation, implementation, monitoring, and enforcement of policies and procedures to prevent illegal, unethical, or improper conduct on the part of members of the Michigan Strategic Fund Board, the Strategic Economic Investment and Commercialization Board, and their employees or agents.
The chief compliance officer also will recommend ethics and conflicts of interest policies and procedures, provide guidance and assistance to board members and employees regarding compliance, recommend action to assure compliance, and review and evaluate compliance efforts. Approved last year by Governor Granholm, the 21st Century Jobs Fund represents a $2 billion investment in growing Michigan's economy and creating jobs in Michigan.
Walter joined the Department of Attorney General in 1984. His work there includes the successful prosecution of securities fraud cases and service in the Department's Health Care Fraud Division. Walter also has represented the Office of Financial and Insurance Services, the Corporation and Securities Bureau, the Crime Victim Services Commission, and the State Board of Ethics. While in private practice, Walter prepared and analyzed securities offerings such as private placement memoranda used to raise investment funds for private industry.
A cum laude graduate of the University of Michigan Law School, Walter also graduated cum laude from the University of Michigan with a bachelor of science degree in actuarial mathematics.
The chief compliance officer is appointed by and reports to the State Administrative Board, which includes the governor, the lieutenant governor, the secretary of state, the attorney general, the state treasurer, the superintendent of public instruction, and the director of the Department of Transportation. Created in 1921, the State Administrative Board exercises general supervisory control over the functions and activities of all administrative departments, boards, commissioners, and officers of the state, and of all state institutions.
This appointment is not subject to disapproval by the Michigan Senate.
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