OCC deputy stresses risk management as banks step up AI

By Jon Hill (May 13, 2022, 6:50 p.m. EDT) – A senior official with the Office of the Comptroller of the Currency told House lawmakers on Friday that while his agency is aware of the risks that could come from adopting more off banks of artificial intelligence, it also explores how it can harness technology.

Kevin Greenfield, the OCC’s assistant comptroller for operational risk policy, testified at a House Financial Services Committee task force hearing that the OCC is evaluating AI as a way to strengthen its oversight of domestic banks. and other federally chartered institutions it oversees.

“The OCC uses a number of analytical and technological tools to support banking supervision,…

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