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NCUA names director of the office of examination and insurance

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Industry Spotlight, Inside the Beltway
Tuesday, December 21, 2021
The National Credit Union Administration (NCUA) named Kelly Lay, its current director of the Office of Business Administration, as the new director of the Office of Examination and Insurance.

Starting on Jan. 1, 2022, Lay will oversee the NCUA’s examination and supervision program that ensures the safety and soundness of federally insured credit unions and manages risk to the National Credit Union Share Insurance Fund.

“Kelly brings to her new position deep experience in examining and supervising credit unions of all sizes, incorporating technology into the examination program, and managing data assets,” NCUA Chairman Todd Harper said in a release. “She will be a valuable addition to the Office of Examination and Insurance, and I look forward to working with her in this new leadership role.”

Lay has 25 years at the NCUA, beginning in 1996 as an examiner in Chicago. She also has served as a supervision analyst, the director of supervision and the director of insurance in multiple regional offices, and the associate director of programs in the former Region II. Additionally, Lay provided instrumental guidance in the development of the NCUA’s new examination system.

She succeeds Myra Toeppe, who is retiring after more than 10 years at the agency and 34 years of public service.

“Myra led the Office of Examination and Insurance during a period of heightened challenges resulting from the COVID-19 pandemic and associated economic downturn,” Harper said. “She has been a valuable member of the NCUA team. I thank Myra for her decades of federal service and wish her the best in her retirement.”

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