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FOR IMMEDIATE RELEASE
December 21, 2011
Contact: Bryan Hubbard
Michael Sullivan Named Deputy Comptroller for Risk Analysis
WASHINGTON — The Office of the Comptroller of the Currency (OCC) announced today that Michael Sullivan has been appointed Deputy Comptroller for Risk Analysis effective December 18, 2011.
As Deputy Comptroller, Mr. Sullivan will provide executive oversight for the three Risk Analysis Divisions that provide expertise for the agency on modeling of credit risk, market risk, and enterprise-wide risk. He also will serve as a key advisor and technical expert for the Economics Department and the OCC on practical and policy issues related to the use of quantitative models by banks and the oversight of banks’ risk models by supervisors.
“The Risk Analysis Divisions, or RAD, play a vital role in the OCC’s supervision of national banks, and, as a group, they provide the expertise we depend on to ensure that banks use quantitative models safely and effectively,” said Senior Deputy Comptroller for Economics Mark Levonian. “Mike is well known as an experienced quantitative economist, and has been a leader within RAD for some time. I have been impressed by his expert knowledge of bank practices, his understanding of supervision and regulation, and his vision for the future of RAD within the OCC and the regulatory community more broadly.”
Mr. Sullivan joined the OCC in 1999 as a Financial Economist. He was appointed Deputy Director for Market Risk Modeling in 2004 and Director of Market RAD in 2008. Mr. Sullivan has a B.A. in economics from Stanford University and a Ph.D. in economics from Yale University.
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