OCC reorganized its operations and realigned nearly 150 staff members to form two new units namely, "Supervision System and Analytical Support" and "Systemic Risk Identification Support and Specialty Supervision." This realignment consolidates bank supervision support, risk analysis, and oversight of national trust banks and significant service providers, though Midsize and Community Bank Supervision and Large Bank Supervision unit will retain the primary responsibility for overseeing the banks, savings associations, and federal branches and agencies of foreign banks that compose the federal banking system. The changes will take effect from October 01, 2019.
The first unit, Supervision System and Analytical Support, will pull together supervisory information system teams, data management, business intelligence, risk analysis, and supervision risk management staff from other OCC supervisory and policy units. Bob Phelps, who serves as the Deputy Comptroller for Supervision Risk Management, will head this new unit. The second unit, Systemic Risk Identification Support and Specialty Supervision, will bring together lead experts from large bank supervision and midsize bank supervision as well as teams responsible for the supervision of trust companies from the Northeastern District National Trust Banks team and significant service providers from Bank Supervision Policy. The agency did not yet identify the person to fill Deputy Comptroller role.
While both units will report to the Chief Operating Officer, the Committee on Bank Supervision will provide strategic direction and oversight to both the units and will review and approve strategic plans and initiatives, annual business plans or operating plans, and major projects and initiatives. This would promote greater coordination and collaboration across the supervision business units. The Committee on Bank Supervision is made up of senior executives who oversee OCC units that supervise the majority of institutions that make up the federal banking system. Strategic direction from the Committee on Bank Supervision ensures the units’ activity supports the supervisory needs of the federal banking system.
Related Link: Press Release
Keywords: Americas, US, Banking, Bank Supervision, Risk Analysis, Systemic Risk, Operation Restructuring, OCC
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