The national bank regulator’s bank supervision and examination group will be divided into three areas ad of Oct. 1, and its chief national bank examiner office will have five divisions, the agency announced recently.
The Office of the Comptroller of the Currency (OCC) said the bank supervision and examination group will be replaced by three lines of business:
- large and global financial institutions, which will include financial institutions having more than $500 billion in assets and institutions with a foreign parent;
- regional and midsize financial institutions, including institutions between $30 billion and $500 billion in assets; and
- community banks, including institutions with up to $30 billion in assets.
It said each unit will be led by a senior deputy comptroller, each of whom will report to the comptroller.
Comptroller of the Currency Jonathan V. Gould was quoted saying the realignment “is consistent with our historic risk-based supervision approach and my commitment to tailor supervision to bank risk profile.” He said that over time, he expects the three bank supervision groups to “generally align” with the agency’s tailored regulatory framework. The new structure, he said, “benefits the institutions we supervise and improves the management of examiner resources and supports examiner development and professional growth.”
The OCC said Greg Coleman, the agency’s senior deputy comptroller for bank supervision and examination, will be the senior deputy comptroller for large and global financial institutions. Acting senior deputy comptrollers for the other two units will be selected in early October, the OCC said.
The OCC also said its chief national bank examiner office will have five divisions reporting to Jay Gallagher, the agency’s senior deputy comptroller and chief national bank examiner. It said 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 agency’s Office of Financial Technology will report directly to Gallagher, the OCC said.
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