(a) Director of the Corporation. The Corporation shall be administered by a Director appointed by the President with the advice and consent of the Senate. Subject to policies established by the Board, the Director shall have responsibility for the Corporation's management, including its personnel, organization and budget practices, and shall carry out the Corporation's functions under Title IV of ERISA. The Director shall submit the Corporation's budget to the Chair of the Board for review and approval.
(b) There shall be the following senior officers of the Corporation, reporting directly to the Director:
(1) Deputy Directors for Policy and Operations, who shall be first and second assistant, respectively;
(2) General Counsel, who shall serve as Secretary to the Board;
(3) Chief Financial Officer;
(4) Chief Information Officer;
(5) Chief Management Officer;
(6) Chief Operating Officer; and
(7) Chief Insurance Program Officer.
(c) Subject to prior approval of the Board, the Director may establish such additional or other senior officers as necessary. Before making an appointment to a senior officer position, the Director shall consult with the Board.