Jay Gallagher Named Deputy Comptroller for Systemic Risk Identification Support and Specialty Supervision

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Jay Gallagher as Deputy Comptroller for Systemic Risk Identification Support and Specialty Supervision.

In this new role reporting to the OCC’s Chief Operating Officer, Mr. Gallagher will serve as a key advisor to the Committee on Bank Supervision (CBS) and other OCC senior leaders, the Chief Operating Officer, and the Comptroller on supervisory program matters. He will provide executive direction and set goals and objectives for a portfolio of nationally chartered trust banks and non-bank service providers, as well as the Lead Expert and Compliance Officer program supporting Large and Midsize Bank supervision and systemic risk identification.

Mr. Gallagher will lead a team of more than 70 people. The new organization was created by consolidating existing units and was announced by the OCC on July 31, 2019. Mr Gallagher will assume these new duties on October 1, 2019.

“Jay brings a tremendous amount of experience, energy, and judgment to this new role,” said Chief Operating Officer Morris Morgan. “I know he will be a success and look forward to him joining the senior leadership team in the Office of the Chief Operating Officer.”

During his 27 years with the agency, Mr. Gallagher has supervised banks of all sizes and complexity. In Midsize and Community Bank Supervision, he served as an asset management expert and was instrumental in the supervision of complex national trust banks. In Large Bank Supervision (LBS), he has served as team leader for asset management, mortgage, and retail credit and as LBS lead expert for asset management. Mr. Gallagher currently serves as the LBS Risk Team Lead responsible for capital markets, asset management, and capital activities.

Mr. Gallagher joined the OCC in 1992 after earning a bachelor’s degree from Bloomsburg University in Pennsylvania. Prior to joining the OCC, Mr. Gallagher also served in the U.S. Marine Corps.