The Office of the Comptroller of the Currency appointed Richard Taft to be its next deputy comptroller for credit risk.

Taft will assume his new role in May and is succeeding Darrin Benhart, who became the OCC's deputy comptroller for supervision risk management in October.

The deputy comptroller for credit risk is responsible for overseeing the agency's commercial and retail credit policy units. Taft will also serve as a principal advisor on credit risks facing the banking system.

Taft has been at the OCC since 1984, when he was a community bank examiner. After earning commission as a national bank examiner in 1989, he held a variety of technical and managerial positions at the OCC including regional bank analyst, large bank credit examiner, midsize bank examiner-in-charge, large bank team leader, examiner-in-charge of the agency's London office, and most recently the examiner-in-charge of PNC Bank.

Taft will report to Jennifer Kelly, the OCC's senior deputy comptroller for bank supervision policy and chief national bank examiner.

"The OCC will benefit from Rich's understanding of how supervisory guidance is communicated and implemented in the field, as well as the relationship between the various aspects of credit risk and the myriad of other issues that field examiners have to factor into their daily work," said Kelly in a press release.

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