News Release 2019-83 | July 24, 2019
OCC Announces Executive Assignments
WASHINGTON—The Office of the Comptroller of the Currency today announced Beverly Cole would become the Deputy Comptroller of the Northeastern District and Beth Dugan and Mark Richardson would become Deputy Comptrollers for Large Bank Supervision.
“Beverly, Mark, and Beth bring deep bank supervision and regulatory experience to these important leadership roles,” said Comptroller of the Currency Joseph Otting. “Together, they will supervise a significant portion of the banks and savings associations we oversee and will play a large role in our ability to fulfill this agency’s mission of ensuring the federal banking system operates in a safe, sound, and fair manner.”
Ms. Cole will oversee more than 300 community banks and federal savings associations. She will manage a staff of more than 350 bank examiners and other professional and support personnel located in the Northeastern District Office in New York City and in field offices in Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Virginia, West Virginia, and Washington, D.C. She will report to the Senior Deputy Comptroller for Midsize and Community Bank Supervision Toney Bland and will assume these duties in August 2019. She fills the vacancy created by the retirement of Kris Kiefer in June 2019.
Ms. Cole currently serves as Deputy Comptroller for Compliance Supervision, responsible for developing and promulgating compliance operational protocols, examination strategies, and schedules. She oversees a staff implementing bank supervision policy for compliance and establishes programs to ensure efficient bank supervision for compliance.
Ms. Dugan and Mr. Richardson will each supervise teams overseeing the largest, most complex banks in the nation. The banks they supervise hold trillions in combined assets and operate across the nation and internationally. They will be two of four Deputy Comptrollers for Large Bank Supervision who report to the Senior Deputy for Large Bank Supervision Maryann Kennedy.
Ms. Dugan currently serves as the Deputy Comptroller for Operational Risk and oversees policy and examination procedures development addressing operational risk, bank information technology, cybersecurity and critical infrastructure, payments systems, and corporate and risk governance.
Mr. Richardson currently serves as Acting Deputy Comptroller for Large Bank Supervision and most recently served as the Examiner-in-Charge of JPMorgan Chase Bank, National Association.
Ms. Dugan and Mr. Richardson will take on their new duties in August 2019. They fill vacancies created by the April 2019 selection of Ms. Kennedy as Senior Deputy Comptroller for Large Bank Supervision and the retirement of Kris McIntire.
As of March 31, 2019, the OCC supervised approximately 1,220 national banks, federal savings associations, and federal branches and agencies of foreign banks operating in the United States. Combined, these institutions hold more than $12.8 trillion in assets (67 percent of the total in U.S. commercial banks). While the OCC oversees the largest banks in the country, 90 percent of the banks and savings associations supervised by the OCC are community banks under $10 billion in assets that serve the local consumers, business, and neighborhoods.