Division of Banks Policy Group

Learn more about the Division of Banks' (DOB) senior policy-making committee. Policy Group oversees all regulatory matters, directs day to day operations, and conducts strategic planning for the DOB.

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


Terence A. McGinnis, Commissioner of Banks

Governor Charlie Baker appointed Terence A. McGinnis Commissioner of Banks in September 2016. 

Before his appointment, Mr. McGinnis served as General Counsel and Secretary of Eastern Bank. At Eastern Bank Mr. McGinnis was also a member of the bank's management committee. Before joining Eastern Bank, he held many senior legal positions at both Bank Boston and Fleet Bank. These positions included heading the International Law Practice Group at FleetBoston Financial Corporation. Mr. McGinnis served as Associate Counsel with the Committee on Rules with the US House of Representatives before starting his legal banking career.

Mr. McGinnis is a retired Navy Captain, having served both on active duty and in the Reserves with the US Navy. He held several command positions with the Naval Reserve and served in many senior military roles. He was twice awarded the Meritorious Service Medal and the Navy Achievement Medal, among other military citations.

As a strong believer of serving the community, Mr. McGinnis has served on many boards - both past and present. He has served as Chairman of the Board of Trustees of North Shore Medical Center, an affiliate of Partner’s Healthcare. Currently, Mr. McGinnis is the Chairman of the Board of Directors of North Shore Physicians Group. He also is Chairman and President of the Children’s Law Center of Massachusetts, Inc. Mr. McGinnis also is on the Board of Directors of Discovering Justice.

Mr. McGinnis is an honors graduate of Merrimack College, holds a Master of Arts degree from Boston College Graduate School, and received his law degree from Boston College Law School. He was also awarded an honorary Doctor of Humane Letters from Salem State University for his community service on the North Shore.

Cynthia A. Begin, Chief Risk Officer

Ms. Begin was appointed in 2011 to serve as the Division's Chief Risk Officer. As the Chief Risk Officer, Ms. Begin oversees DOB's examination and licensing programs. This includes the the Depository Institution Supervision (DIS) and Outreach, Non-Depository Institution Supervision (NDIS), and Enforcement and Investigation Units.

Before becoming Chief Risk Officer, Ms. Begin was the DOB's Senior Deputy Commissioner NDIS. In that position, she oversaw the licensing and supervision of over 5,000 licensed financial service providers including mortgage lenders, mortgage brokers, mortgage loan originators, money service businesses, finance companies, and debt collectors. Ms. Begin joined the Division in 1994 serving as Assistant General Counsel.

Ms. Begin was the Vice President and Legal Counsel to the Massachusetts Share Insurance Corp. before joining the DOB. She began her career in banking in the 1980’s at The Conifer Group, Inc., a Worcester-based bank holding company.

Ms. Begin serves as a Board member and Past President of the American Association of Residential Mortgage Regulators (AARMR). In 2014 Ms. Begin received the AARMR Distinguished Service Award in 2014.

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

Mary L. Gallagher, Chief Operating Officer

Ms. Gallagher was appointed Chief Operating Officer of the DOB in 2015. In this role, Ms. Gallagher oversees the agency's operational and administrative team with oversight for fiscal considerations, budget and accounting, human resources, information technology and security, facilities, staff development and training.

Before joining the DOB, Ms. Gallagher spent seventeen years working in financial services in Boston, New York, and London. Ms. Gallagher's work in both foreign exchange and equity markets includes 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.

Jay P. Bienvenu, Senior Deputy Commissioner

Mr. Bienvenu was appointed Senior Deputy Commissioner in the DIS unit in 2006. In this role, Mr. Beinvenu 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.

Paul A. Gibson, Senior Deputy Commissioner

Mr. Gibson was appointed Senior Deputy Commissioner for the Non-Depository Institution Supervision (NDIS) unit in 2012. In this role, Mr. Gibson oversees the licensing, financial safety and soundness, and consumer compliance examinations of non-depository licensees.

Mr. Gibson began his career with the Division in 1996 as an Assistant Bank Examiner. He has held many bank examiner and management positions throughout his tenure. Before joining the DOB, he worked in various positions in the banking industry.

Mr. Gibson holds a Bachelor of Science in Business Administration degree in Finance from Suffolk University.

Christopher R. Pope, Deputy Commissioner

Mr. Pope was appointed in 2008 as Deputy Commissioner for Enforcement and Investigation. As Deputy Commissioner, Mr. Pope oversees the DOB's investigations of fraudulent and illegal activities of regulated entities. He also supervises the Consumer Assistance Unit and the administration and enforcement proceedings related to investigations. Mr. Pope is the DOB's liaison to various federal and state law enforcement agencies on criminal referral matters.

In 1999, Mr. Pope began his career at the DOB as an Assistant Bank Examiner. He later served as Assistant Chief Director, and Chief Director of Examinations for Community Financial Institutions.

Before joining the DOB, Mr. Pope 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.

Merrily S. Gerrish, Deputy Commissioner and General Counsel

Ms. Gerrish was appointed Deputy Commissioner and General Counsel at the DOB in 2013. In this role, Ms. Gerrish oversees the Legal Unit. Ms. Gerrish handles all corporate transactions as well as reviewing pending legislation and drafting legislative changes. Ms. Gerrish also oversees the drafting of legal opinions and amendments to regulations.

Ms. Gerrish has over 20 years of legal experience in both the public and private sectors. Most recently, Ms. Gerrish worked as the Associate General Counsel at Bank of America. In her years with the bank’s predecessors, Fleet Bank and BankBoston, Ms. Gerrish worked in both consumer and corporate banking law.

Ms. Gerrish began her legal career at the Office of the Comptroller of the Currency (OCC). At the OCC, she handled all reviewing and interpreting banking regulations for national banks and agency personnel.

Ms. Gerrish holds a Bachelor of Arts degree in Government from Connecticut College, an MBA from Boston University, and a Juris Doctorate from Suffolk University Law School.


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