Citing the increasing complexity of financial services industry regulation, Michigan Financial Institutions Bureau Commissioner Patrick M. McQueen announced the creation of a "Risk Analysis and Regulatory Oversight" program, and the appointment of Joseph E. Petterson as manager of the new program.

Joseph Petterson, who joined the FIB in 1969, has served as Assistant Director in the bank and Trust Division since 1985. In his new role, Mr. Petterson will report directly to the Commissioner and will oversee the development and implementation of programs that will enhance the bureau's ability to detect possible problems in regulated financial institutions. He will also have responsibility for the FIB strategic planning process, operational plans, and quality review programs.

In commenting on Mr. Petterson's appointment, Commissioner McQueen said, "Joe's dedication and long record of superior performance ensures that we have selected the right person for this critical position."

Mr. Petterson is an honors graduate from Michigan State University, a graduate from the Southwestern Graduate School of Banking, and has served in the United States Marine Corps. During his years with the FIB, he has served on many special committees and task forces for the Conference of State Bank Supervisors (CSBS), and has been a frequent instructor at the Michigan Banker's Association Perry Auditor School and for CSBS. Mr. Petterson and his family reside in East Lansing.