The Office of the Comptroller of the Currency announced a sweeping overhaul of its supervision structure, creating three distinct tiers and updating the organization of the Office of the Chief National Bank Examiner.
Under the new framework, which will take effect Oct. 1, the OCC will replace its Bank Supervision and Examination group with groups focused on large and global financial institutions, regional and midsize financial institutions, and community banks.
Each will be led by a senior deputy comptroller.
Greg Coleman, the agency’s senior deputy comptroller for bank supervision and examination, will oversee large and global financial institutions, or those with more than $500 billion in assets or a foreign parent.
The regional and midsize group will cover banks with $30 billion to $500 billion in assets, and the community banks group will oversee institutions with up to $30 billion in assets. Acting senior deputy comptrollers will be named in early October.
“This realignment is consistent with our historic risk-based supervision approach and my commitment to tailor supervision to bank risk profile,” Comptroller of the Currency Jonathan Gould said in a press release. “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, supports examiner development and professional growth.”
The OCC also streamlined the Office of the Chief National Bank Examiner into five divisions reporting to Senior Deputy Comptroller and Chief National Bank Examiner Jay Gallagher. Those divisions handle supervision systems and analytical support, credit risk, compliance and operational risk, economics, and capital, market risk and asset management.
The Office of Financial Technology will report directly to Gallagher.