OCC announces chief climate risk officer

The OCC announced the appointment of Yue (Nina) Chen as chief climate risk officer.

Details: Chen will lead the agency’s Office of Climate Risk and development of climate risk management frameworks for the federal banking system. She follows Jonathan Fink, who assumed these duties in an acting capacity in March.

Background: Chen previously served as the first executive deputy superintendent of the New York State Department of Financial Services Climate Division, where she was responsible for integrating climate-related financial risks into supervision.

ICBA Advocacy: ICBA has expressed concerns with FDIC and SEC climate proposals, which could discourage financial institutions from doing otherwise lawful business and participating in the public capital markets.