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Richard Sheaffer is a senior vice president and general auditor in the Audit Department. He joined the Bank in 1974 as a member of the Audit Department. In 1979, he was promoted to operations manager and to operations officer in 1986. Sheaffer was also a vice president in Treasury Services. He is a graduate of Temple University, from which he received both a bachelor’s degree and an M.B.A. He is also a certified fraud examiner. He is vice chair of the Federal Reserve System’s Conference of General Auditors and serves on the board of governors of the Philadelphia Chapter of the Institute of Internal Auditors. Sheaffer has been an instructor at the American Institute of Banking and a speaker at several Federal Reserve System securities symposiums.