OCC Announces Changes to Executive Committee Membership

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced changes to the membership of its Executive Committee, effective July 1, 2022.

Blake Paulson, Senior Deputy Comptroller for Supervision Risk and Analysis, has announced his retirement, effective August 31. Mr. Paulson joined the OCC in 1986 as a community bank examiner and rose up through the ranks, eventually serving as Acting Comptroller of the Currency in 2021. In addition to serving as the first Senior Deputy Comptroller for Supervision Risk and Analysis, he has had stints as Chief Operating Officer, Senior Deputy Comptroller for Midsize and Community Bank Supervision, and Deputy Comptroller of the Central District. Over the course of his 36-year career, Mr. Paulson has served as a trusted advisor and outstanding leader who has improved every unit that he has overseen. Effective July 1, Jay Gallagher, Deputy Comptroller for Systemic Risk Identification Support and Specialty Supervision (SyRIS), will serve as Acting Senior Deputy Comptroller for Supervision Risk and Analysis, where he will lead the agency’s Economics, Supervision System and Analytical Support, and SyRIS units.

Kathy Murphy, Senior Deputy Comptroller for Management and Chief Financial Officer, has announced her intent to participate in the OCC’s new sabbatical program for executives who have demonstrated exceptional leadership and service to the agency. She will spend up to one year in the program. Ms. Murphy joined the OCC in 2002, was appointed Deputy Comptroller and Chief Accountant in 2009, and was named to her current role in 2014, where she is responsible for the OCC’s departments of financial management, human capital, administrative operations and information technology. Peggy Sherry, Principal Deputy Comptroller for Management and Deputy Chief Financial Officer, has been named Acting Senior Deputy Comptroller for Management and Chief Financial Officer.

Sydney Menefee, Senior Deputy Comptroller for Midsize and Community Bank Supervision (MCBS), has announced her intent to depart the agency. Ms. Menefee joined the OCC in 2009 as a Professional Accounting Fellow, was commissioned as a National Bank Examiner in 2016, and became Deputy Comptroller and Chief Accountant in 2018. In 2020, Ms. Menefee was appointed to her current position. Among her noteworthy accomplishments are supporting the agency’s response to the COVID-19 national emergency, measurably reducing regulatory burden at community banks, and spearheading an organizational realignment of MCBS to create a flexible, scalable and consistent framework that will ensure our continued ability to meet our mission into the future. Beverly Cole, Deputy Comptroller for the Northeast District, has been named Acting Senior Deputy Comptroller for MCBS.

“The OCC has benefitted from the strong leadership of Mr. Paulson, Ms. Murphy, and Ms. Menefee who have had long and distinguished careers and made countless contributions to the agency. I have valued the friendship and contributions that all three Senior Deputy Comptrollers have provided to me and the Executive Committee and want to recognize their passion, drive and professionalism,” said Acting Comptroller Michael Hsu. “I wish Blake and Sydney all the best in their future endeavors and look forward to Kathy’s return after her sabbatical. I am confident that the OCC will be well-served by our new Acting Senior Deputy Comptrollers who will provide valuable and seamless leadership while we execute our important mission.”