Caproni received a Bachelor of Arts, magna cum laude, in psychology from Newcomb College of Tulane University in 1976.

[2] Following graduation, Caproni clerked for Judge Phyllis A. Kravitch, United States Court of Appeals for the Eleventh Circuit.

In September 1980, she began work as an associate in the litigation department of Cravath, Swaine & Moore in New York City.

In 2001 Caproni returned to New York as counsel at the law firm of Simpson Thacher & Bartlett, specializing in white collar criminal defense and SEC enforcement actions.

Conyers's statement:[8] Today's hearing showed that the FBI broke the law on telephone records privacy and the General Counsel's Office, headed by Valerie Caproni, sanctioned it and must face consequences.

This must include the FBI Office of General Counsel, headed by Valerie Caproni, which the IG testified today had approved [the] continued use of exigent letters and provided legal advice that was inconsistent with federal law.

The IG found that, during this period, much of this information was obtained through the use of so-called exigent letters, which do not exist in the Patriot Act and have no statutory basis whatsoever.