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Division of Banks Policy Group

The Division of Banks' (DOB) Policy Group oversees all regulatory matters, directs day to day operations, and conducts the agency's strategic planning. The below individuals serve as members of the Policy Group.

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Policy group overview

The DOB's Policy Group is chaired by the Commissioner of Banks. The Policy Group meets regularly.

The goals of the Policy Group are:

  • Oversee all regulatory matters involving the DOB
  • Direct the DOB's day-to-day operations
  • Conduct the DOB's strategic planning efforts

Mary L. Gallagher, Commissioner of Banks

Mary Gallagher was appointed Commissioner of Banks in May 2019.  Before being appointed Commissioner Ms. Gallagher served as the DOB's Chief Operating Officer. As Chief Operating Officer, Ms. Gallagher oversaw the agency's operational and administrative team, including fiscal oversight, budget and accounting, human resources and staff development, information technology and security, facilities, and vendor management and procurement. She also co-chaired DOB’s strategic planning and was a member of the agency’s Policy Group.  

Before joining the DOB, Ms. Gallagher spent 17 years in the financial services and securities industry in Boston, New York, and London. Her work included foreign exchange and equity market sales and trading roles at Morgan Stanley, State Street Global Markets, and Deutsche Bank Alex Brown. Ms. Gallagher holds a bachelor's degree in psychology from Harvard University.

Cynthia A. Begin, First Deputy Commissioner

Cynthia Begin, Esq. was appointed First Deputy Commissioner in May 2019.  Prior to her appointment, Ms. Begin served as Chief Risk Officer for the DOB since 2011. Ms. Begin has spent more than 24 years in financial services regulation at the DOB. She is responsible for the oversight of regulated banks, credit unions, and over 9,000 non-depository licensees as well as the agency’s Enforcement and Investigation Unit. Ms. Begin has also served as a Senior Deputy Commissioner and as the DOB's Assistant General Counsel. 

Prior to joining the DOB, Ms. Begin worked as Vice President and Legal Counsel for the Massachusetts Share Insurance Corporation and at a Worcester-based bank holding company. Ms. Begin serves as a board member and past president of the American Association of Residential Mortgage Regulators, and is a recipient of the 2014 Distinguished Service Award. She holds a Bachelor of Science in Business Administration from Nichols College and a Juris Doctorate from Suffolk University Law School.

Barbara E. Keefe, Deputy Commissioner and General Counsel

Barbara E. Keefe was appointed Deputy Commissioner and General Counsel in January 2021.  Ms. Keefe joined the Division of Banks from a two-decade career at State Street Bank and Trust Company where she cultivated significant financial industry, regulatory, and legal experience most recently in her capacity as Managing Director and Managing Counsel in the U.S. Bank Regulatory Legal Group.

Prior to State Street, Ms. Keefe’s financial services experience included practicing bank regulatory and consumer financial services law at the firms of Reed Smith and Goodwin where she worked with financial institution clients on product development and regulation as well as analyzed licensing and compliance matters arising under federal and state consumer financial services laws and regulations. Ms. Keefe has been an adjunct instructor at Northeastern University School of Law, teaching the “Law of Financial Institutions” course. Ms. Keefe holds her Juris Doctor from Boston University’s School of Law and her Bachelors of Arts in History from the University of Virginia.

Paul A. Gibson, Chief Risk Officer

Paul Gibson was appointed Chief Risk Officer in 2019. In this role, Mr. Gibson is responsible for the oversight of regulated banks, credit unions, and nearly 10,000 non-depository licensees. He has over 23 years of experience in financial services regulation including, most recently, serving as the Senior Deputy Commissioner for the Non-Depository Institution Supervision (NDIS) unit.  Mr. Gibson held many bank examiner and management positions throughout his tenure supervising both depository and non-depository examinations. Before joining the Division, he gained experience in the banking industry.  Mr. Gibson holds a Bachelor of Science in Business Administration degree in Finance from Suffolk University.

Jay P. Bienvenu, Senior Deputy Commissioner

Jay Bienvenu was appointed Senior Deputy Commissioner in the DIS unit in 2006. In this role, Mr. Bienvenu oversees risk management supervision for state-chartered banks and credit unions. Before becoming Senior Deputy Commissioner, Mr. Bienvenu was the DOB's DIS Deputy Commissioner. As Deputy Commissioner he oversaw the examination and supervision of Massachusetts banks and credit unions.

Mr. Bienvenu has also served the DOB as Chief Director for the Bank Supervision Unit. In 1990, Mr. Bienvenu began his career at the DOB as an Assistant Bank Examiner. Before joining the DOB, he worked in various positions in the banking industry.  Mr. Bienvenu holds a Bachelor of Science in Economics from Fitchburg State College. He also has a Masters Degree in Business Administration from the University of Massachusetts at Lowell.

Christopher R. Pope, Senior Deputy Commissioner

Mr. Pope was appointed Senior Deputy Commissioner for the Non-Depository Institution Supervision (NDIS) unit in 2019.  In this role, Mr. Pope oversees the licensing, financial safety and soundness, and consumer compliance examinations of non-depository licensees as well as the agency’s Enforcement and Investigation Unit.  He has been serving as the Deputy Commissioner for Enforcement and Investigation since 2008 and acting as the agency’s liaison to various federal and state law enforcement agencies on criminal referral matters. 

Mr. Pope has over 20 years of experience at the Division from bank examiner to several management positions, supervising both depository and non-depository examinations.  He is a member of the Board of Directors of the Money Transmitters Regulatory Association (MTRA), and has served as the Chair of the Multi-State Mortgage Committee (MMC).  Mr. Pope previously worked in investment portfolio management at a state-charted bank. He holds a Bachelor of Arts degree with a Concentration in History from Bridgewater State College.

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