2005 Paul A. Volcker Career Achievement

James H. Fall, III

Led the expansion of Treasury’s international technical assistance program which has strengthened the financial systems in 70 nations around the world.

As a competitive marathoner and triathlete, Jim Fall uniquely understands the importance of perseverance. He has applied these lessons not only to his athletic endeavors but also to his professional life. Throughout his career in government, he has consistently faced obstacles, but he has always pushed ahead. And thanks to his commitment, he has been able to drive reforms that are currently at work in dozens of countries, strengthening their economies.

Jim Fall began his federal service with the U.S. Army in Vietnam. After leaving the military, he came to the Department of the Treasury’s Office of International Affairs, and that’s where he has made his career for the past 32 years. He came to Treasury thinking he’d be there for a short time. After two years, he was selected to be a Treasury Attaché at the U.S. Embassy in Germany, and thereafter he decided to stay in government, taking similar posts in Switzerland and then Paris.

He would eventually serve six years as Deputy Assistant Secretary for Developing Nations.

For the past nine years, Mr. Fall has served as Deputy Assistant Secretary of the Treasury for Technical Assistance Policy, where he has led efforts to provide technical and economic assistance to support financial reforms in countries around the world.

He is the senior career official in one of the most elite offices in the Treasury. The technical assistance program Mr. Fall now manages is engaged in 70 countries, notably in Latin America, in struggling democracies in Africa and in unstable nations in the Middle East. Under his direction, more than 200 civil servants and contractors provide guidance to finance ministers and central bank governors in recipient countries.

Nothing better illustrates Mr. Fall’s capacity to lead than his performance in Iraq, where Treasury’s technical assistance efforts have been among the most intense. Mr. Fall worked with the Defense Department to deploy more than 60 advisors to Iraq by mid-2004. His efforts were critical to achieving America’s goals in Iraq, particularly through the restoration of the banking system, the introduction of a new currency and the establishment of a trade bank.

Mr. Fall has achieved similar success in Afghanistan and Liberia, where he established and has maintained a solid presence of Treasury advisors. In these and many other developing countries, Mr. Fall continually exhibits exceptional leadership and vision to help them adopt the skills and policies to ensure economic stability and growth

In expanding the technical assistance program from 15 countries to the current 70, Mr. Fall has demonstrated an ability to hire and develop a strong staff of advisors. He has also exhibited exemplary resource management skills, insisting that administrative expenses for the technical assistance program not exceed 15 percent of funding resources.

Former Treasury Secretary Robert Rubin has called Jim Fall’s program “the crown jewel of the federal government.” Rubin added, “Jim’s a good example of the kind of civil servant that we need in government.”

Marathoners also understand the importance of pace. After 38 years in federal service, Jim Fall has demonstrated the benefits of letting up.