with private sector senior management-level experience with legal or public accounting background and recommended to the Council by a financial institution or a financial institution trade association. (3) Terms (A) In general Each judge appointed to the Panel shall serve for a term of 3 years, except as provided in subparagraph (B). No judge may be appointed to serve more than 2 terms. (B) Terms of initial appointees Of the judges first appointed to the Panel— (i) the judge appointed pursuant to paragraph (2)(A) shall be appointed for a term of 1 year