The national bank regulator on Wednesday announced it was combining its midsize and community bank supervision and large bank supervision functions to create a new bank supervision and examination “line of business.”
It said it is also reinstating its chief national bank examiner office, which will include the divisions of bank supervision policy plus supervision risk and analysis; and will elevate its information technology and security (ITS) function to be led by a new senior deputy comptroller for ITS, who will serve as a member of the agency’s executive committee.
The OCC said all the changes will take effect June 2.
“Blending the large, midsize and community bank supervision activities will allow for the seamless sharing of expertise and resources to address bank-specific issues or novel needs and provides opportunities for career development and progression for the agency’s entire examination workforce,” the agency said in its release. It said that Organizing risk identification, analysis and policy efforts “will ensure a seamless approach to knowledge sharing and supervision.”
There is some staff shuffling attached to the above changes.
Beverly Cole, who currently heads midsize and community bank supervision, will retire in May after 43 years with the agency. Meanwhile, Greg Coleman, head of large bank supervision, will lead the bank supervision and examination office, the agency said.
Grovetta Gardineer, head of bank supervision policy, will retire in May after 37 years of federal service, including 15 years at the OCC. Jay Gallagher, head of supervision risk and analysis, will lead the chief national bank examiner office.
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