Carver Bancorp Appoints Retired OCC Official Jason Sisack to Bolster Leadership Team
Carver Bancorp, a New York City-based bank that has been operating under regulatory enforcement action since May, has made a strategic move in its leadership lineup. The bank has hired Jason Sisack, a retired official from the Office of the Comptroller of the Currency (OCC), to serve as a senior enterprise risk management advisor. The announcement is viewed as a significant step towards bolstering the bank’s operational capabilities and accelerating growth.
About Jason Sisack
Jason Sisack retired from the OCC in September after a tenure of 26 years. His roles at the OCC included assistant deputy comptroller for the Atlanta and New York City field offices between 2015 and 2025. Sisack led examiner teams in these roles and developed a deep respect for the community bank business model. He has seen firsthand how community banks can drive economic growth and expand financial access.
Sisack’s Role at Carver Bancorp
In his new role at Carver Bancorp, Sisack will serve as a risk management advisor to the CEO, Donald Felix. His primary tasks will involve strengthening the bank’s operational capabilities and providing guidance for growth acceleration. Sisack’s wealth of experience and regulatory background will be crucial to Carver as the bank works towards improving its strategic planning and boosting profitability.
Speaking about his appointment, Sisack said, “This felt like the right time to embrace a new challenge, to directly shape and enhance a bank’s operations from within. What can I accomplish on the other side of the table? How will I do without the [regulatory] hammer?”
Carver Bancorp’s Current Challenges
Carver Bancorp has been grappling with a formal agreement with the OCC, citing deficiencies in the bank’s strategic planning and financial performance. The bank, which is the holding company for the 77-year-old Carver Federal Savings Bank, has reported losses totaling nearly $22 million since its last annual profit in 2018.
Optimism About Carver Bancorp’s Turnaround
Despite the challenges, there’s optimism about Carver Bancorp’s potential to bounce back. Bruce Mann, the CFO at Bronx-based Spring Bank, has accumulated a sizable ownership stake in Carver, largely due to his confidence in the bank’s turnaround prospects under CEO Donald Felix. Mann, who plans to remain a passive investor, has continued to accumulate Carver stock, and as of an Oct. 31 regulatory filing, he has increased his ownership stake to 7.2%.
Carver Bancorp’s decision to bring in Jason Sisack is seen as a strategic move to strengthen the bank’s leadership and operational capabilities at a crucial moment. With Sisack’s regulatory background and his experience working with bank CEOs and boards nationally, Carver has a fresh perspective and a new approach to turning things around.
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