The Federal Deposit Insurance Corporation (FDIC) has established a new unit of independent officials who will consider and resolve appeals of material supervisory determinations brought before the agency.
The Office of Supervisory Appeals (OSA), a standalone office within the FDIC, replaces the Supervision Appeals Review Committee as the final level of review of material supervisory determinations.
As part of the OSA’s launch, the FDIC announced the appointment of the three individuals who will serve as reviewing officials – Tim Ayala, John Conneely, and Duke Sheow.
Ayala has served as a banking executive and FDIC senior leader with experience covering bank supervision, governance, compliance, and regulatory strategy. Most recently, Ayala was the chief risk officer with Pinnacle Financial Partners. His private sector experience also includes serving as regulatory relations officer for a fintech lender. During his stint at the FDIC, Ayala was a commissioned bank examiner in risk management, serving in senior leadership positions in Washington, DC and in four regions.
Conneely is also a former FDIC senior executive with 35 years of experience in bank supervision and regulation. Conneely became a commissioned bank examiner in New York City in 1989 and subsequently held a variety of senior leadership positions within the agency’s Division of Complex Institutions Supervision & Resolution, including serving as division director. He also worked as the regional director for the FDIC in Chicago and deputy regional director in the New York Region. Further, Conneely was a banking policy advisor in the U.S. Department of the Treasury’s Office of International Banking and Securities Markets.
Sheow brings more than three decades of experience in financial institution supervision, enterprise risk management, and banking regulation across the public and private sectors. Most recently, he served as senior managing director at PwC. Before that, he held executive positions with several banks. Sheow also served as a senior commissioned examiner with the FDIC and the Federal Reserve Bank of San Francisco and was a key member in the development of the Federal Reserve’s Fintech Supervisory Program.
With this announcement, the FDIC has provided FDIC-supervised institutions with specific instructions for seeking to appeal material supervisory determinations.