OCC Announces Updates to Organizational Structure

WASHINGTON-The Office of the Comptroller of the Currency (OCC) today announced a new organizational framework for bank supervision and updates to the structure of its Office of the Chief National Bank Examiner.

Effective October 1, three distinct lines of business will replace the Bank Supervision and Examination group: Large and Global Financial Institutions, Regional and Midsize Financial Institutions, and Community Banks. Each unit will be led by a Senior Deputy Comptroller who will report to the Comptroller of the Currency.

The OCC's current Senior Deputy Comptroller for Bank Supervision and Examination, Greg Coleman, will serve as the Senior Deputy Comptroller for Large and Global Financial Institutions. This group will include financial institutions with assets of over $500 billion and those institutions that have a foreign parent. The Regional and Midsize Financial Institutions group will supervise institutions between $30 and $500 billion in asset size and the Community Bank group will supervise institutions with up to $30 billion in assets. Acting Senior Deputy Comptrollers for these new lines of business will be selected in early October.

"This realignment is consistent with our historic risk-based supervision approach and my commitment to tailor supervision to bank risk profile," said Comptroller of the Currency Jonathan V. Gould. "Over time, I expect these three bank supervision groups to generally align with our tailored regulatory framework. This new structure benefits the institutions we supervise and improves the management of examiner resources and supports examiner development and professional growth."

In addition, the Office of the Chief National Bank Examiner will be composed of five divisions that will report to Senior Deputy Comptroller and Chief National Bank Examiner Jay Gallagher. The divisions have been streamlined under the following: Deputy Comptroller for Supervision Systems and Analytical Support; Deputy Comptroller for Credit Risk; Deputy Comptroller for Compliance and Operational Risk; Chief Economist and Deputy Comptroller for Economics; and Chief Accountant and Deputy Comptroller for Capital, Market Risk and Asset Management. The Office of Financial Technology will report directly to Senior Deputy Comptroller and Chief National Bank Examiner Gallagher.

All of these organizational updates will better enable the OCC to ensure that national banks and federal savings institutions support their customers, communities and a thriving economy.