OCC Announces Organizational Changes

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced structural changes intended to enhance the agency’s efficiency and effectiveness.

“The changes announced today will improve collaboration, alignment, and engagement within the agency,” said Acting Comptroller of the Currency Michael J. Hsu.

The agency is realigning its Economics, Supervision System and Analytical Support, and Systemic Risk Identification Support and Specialty Supervision units under a new Senior Deputy Comptroller for Supervision Risk and Analysis. Blake Paulson will move from the Chief Operating Officer position to take on this new role. The agency is retiring the Chief Operating Officer role. As a result of this change, agency bank supervision units (Bank Supervision Policy, Midsize and Community Bank Supervision, Large Bank Supervision, and Supervision Risk and Analysis) and the Office of Management will report directly to the head of the agency.

The agency also will merge its Enterprise Risk Management Office with its Office of Enterprise Governance and Ombudsman. Senior Deputy Comptroller Larry Hattix will take on the additional title of Chief Risk Officer overseeing that function.

Bill Rowe, who served as the agency’s Chief Risk Officer, will be acting on his long-time plans to retire at the end of July. Until then, he will step into a Special Senior Advisor role to focus on enhancing the OCC’s framework for resolving banks with uninsured deposits.

These changes are expected to be implemented this summer.