Policy Group

The Policy Group is the senior policy making committee of the Division of Banks. Chaired by the Commissioner, the Policy Group meets regularly, is comprised of the Division's senior management, and is charged with overseeing all regulatory matters, directing the Division's day to day operations, and conducting strategic planning for the Division. Profiles of the members of the Policy Group are provided below.

STEVEN L. ANTONAKES
COMMISSIONER OF BANKS

Steven L. Antonakes has served as the Commissioner of Banks since December 2003 and was reappointed by Governor Deval Patrick in July 2007. He oversees nearly 250 state-chartered banks and credit unions holding total combined assets of approximately $375 billion; the licensing and examination of over 1,000 non-bank financial entities and over 4,000 individuals engaged in mortgage lending and brokering; and the licensing and supervision of an additional 3,500 non-bank financial entities, including check cashers, small loan companies, finance companies, and debt collectors.

In May 2009, Mr. Antonakes was elected to serve as Secretary of the Conference of State Bank Supervisors (CSBS) having recently completed a two year term as Treasurer. Mr. Antonakes has also served as a founding member of the Board of Managers of the CSBS States Regulatory Registry LLC, which is charged with developing and implementing the Nationwide Mortgage Licensing System (NMLS) since September 2006. Mr. Antonakes previously held a two year term as the Chairman of the Federal Financial Institutions Examination Council���s (FFIEC) State Liaison Committee and with the passage of the Financial Services Regulatory Relief Act of 2006 became the first ever state voting member of the FFIEC.

In March 2007, Mr. Antonakes received NeighborWorks��� national government service award for his work in combating foreclosures. In August 2008, the Massachusetts Division of Banks was presented the American Association of Residential Mortgage Lenders (AARMR) Distinguished Service Award for leadership in mortgage supervision.

Mr. Antonakes began his professional career as an entry-level Bank Examiner with the Division of Banks in June 1990, rising through the management ranks to become the Commissioner of Banks ��� only the second career Bank Examiner ever to serve in that position.

Mr. Antonakes graduated from Lynn Public Schools and holds a Bachelor of Arts degree from Penn State University, a Master of Business Administration from Salem State College, and a Doctorate of Philosophy in Law, Policy, and Society from Northeastern University.

DAVID J. COTNEY
CHIEF OPERATING OFFICER

David J. Cotney serves as the Chief Operating Officer (COO) and assists and advises the Commissioner in examining and regulating nearly 250 state-chartered banks and credit unions and over 10,000 non-bank financial licensees.

Mr. Cotney oversees the Division's Administration & Policy Section where he supervises the daily administration of a staff of 170 employees, an annual budget appropriation of over $12 million, revenue collection, information technology, and financial and non financial internal controls. He is also the Division's Interstate Banking and Branching Contact and liaison to the Conference of State Bank Supervisors (CSBS), the National Association of State Credit Union Supervisors (NASCUS), and the Office of Consumer Affairs. In addition, Mr. Cotney oversees the Legal Affairs & Bank Structure Section which is responsible for all corporate transactions as well as reviewing all pending legislation or drafting legislative changes, and drafting legal opinions and amendments to regulations.

In 2007, Mr. Cotney was appointed as the first State Liaison Committee member of the Federal Financial Institution Examination Council's (FFIEC) Task Force on Consumer Compliance. The Task Force develops and promotes policy coordination, a common supervisory approach, and uniform enforcement of consumer protection laws and regulations across the country.

Mr. Cotney has over 17 years experience with the Division having previously served as the Senior Deputy Commissioner for Administration & Policy. Prior to this, Mr. Cotney served for 10 years as a Deputy Commissioner in various operating units of the Division.

Mr. Cotney holds a Bachelor of Arts degree from Tufts University, a Master in Business Administration with a Concentration in Public and Nonprofit Management from Boston University, and a Master in Public Administration from the John F. Kennedy School of Government at Harvard University.

JOHN M. PRENDERGAST
CHIEF RISK OFFICER

John M. Prendergast serves as the Division's Chief Risk Officer (CRO) and is responsible for all areas of examination and risk supervision. This includes oversight of the Financial Institution Supervision Section which is responsible for the financial safety and soundness of nearly 250 state-chartered banks and credit unions with total combined assets in excess of $230 billion.

In addition, Mr. Prendergast oversees the Division's Compliance & Community Affairs Section which is charged with examining state-chartered banks and credit unions for compliance with community reinvestment and fair lending laws and regulations as well as various consumer protection laws and regulations. In addition, the Compliance and Community Affairs Section also licenses and supervises over 10,000 non-bank financial entities including mortgage companies, finance companies, money service businesses, and debt collectors. Mr. Prendergast also apprises the Commissioner on the successful resolution of troubled institutions in Massachusetts.

Mr. Prendergast has over 20 years of experience with the Division, having served most recently as Senior Deputy Commissioner in the Financial Institution Supervision Section. Previously, he held the position of Chief Director, responsible for ensuring the efficient coordination and examination of all state chartered community banks within the Commonwealth.

Mr. Prendergast is a graduate of Boston College High School and Northeastern University, and holds a Bachelors of Science in Business Administration.

JOSEPH A. LEONARD, JR.
DEPUTY COMMISSIONER OF BANKS AND GENERAL COUNSEL

Joseph A. Leonard, Jr. has served as Deputy Commissioner of Banks and General Counsel for the Division of Banks and Clerk of the Board of Bank Incorporation since 1987. As General Counsel, he has responsibilities for the Division's Legal Affairs and Bank Structure Section which includes the Legal Unit. All matters before the Board of Bank Incorporation are processed through the Division's Legal Unit.

Mr. Leonard joined the Division in 1984 as the First Deputy Commissioner of Banks. From 1976 to 1984, he was the Research Director for the Massachusetts Legislature's Joint Committee on Banks and Banking. For six years, he was a member of the Adjunct Faculty at Suffolk University Law School where he a taught a course on Banking Law.

Mr. Leonard is a graduate of Boston Latin School, Boston College, and Suffolk University Law School.

CYNTHIA A. BEGIN
SENIOR DEPUTY COMMISSIONER

Cynthia A. Begin was appointed in 2008 to serve as Senior Deputy Commissioner for Non Depository Institutions where she oversees the licensing and supervision of over 10,000 non-bank licensees including mortgage companies, finance companies, money service businesses, and debt collectors. Ms. Begin has been employed by the Division since 1994 and most recently served as Assistant General Counsel in the Division's Legal Unit. Prior to joining the Division, Ms. Begin served in the position of Vice President and Legal Counsel to the Massachusetts Share Insurance Corporation, an industry sponsored cooperative insurer created by the Massachusetts Legislature.

Ms. Begin holds a Bachelor of Science degree in Business Administration from Nichols College and a Juris Doctor from Suffolk University Law School.

JAY P. BIENVENU
SENIOR DEPUTY COMMISSIONER

Mr. Bienvenu was appointed in 2006 to serve as Senior Deputy Commissioner, where he serves on the Division of Bank's Policy Group and is responsible for all areas of risk management supervision for state-chartered banks and credit unions throughout the Commonwealth. Previously, Mr. Bienvenu served as Deputy Commissioner, where he was primarily responsible for overseeing the examination and supervision of Massachusetts banks and credit unions. Mr. Bienvenu has also served the Division as Chief Director for the Bank Supervision Unit, where he oversaw the Large and Complex Institutions Section and as Field Office Supervisor. Mr. Bienvenu joined the Division in 1990 as an Assistant Bank Examiner. Prior to joining the Division, he spent five years working in various positions in the banking industry.

Mr. Bienvenu holds a Bachelor of Science degree in Economics from Fitchburg State College. In addition, he completed a Masters Degree in Business Administration from the University of Massachusetts at Lowell in 1995.