Sherrill Nominates Susan Ochs to Serve as Commissioner of the Department of Banking and Insurance

TRENTON – Governor-elect Mikie Sherrill announced that she will be nominating Susan Ochs as Commissioner of the Department of Banking and Insurance (DOBI). Ochs has served in senior roles in the State of New Jersey, at the U.S. Department of the Treasury, the U.S. Securities and Exchange Commission, and in the private sector. She will oversee Get Covered NJ, the state healthcare exchange, and will manage the banking, insurance, real estate, and healthcare markets with a focus on consumer protection.

“We need a leader who will work to lower insurance costs for Garden State families whether that's healthcare or auto insurance. That’s why I’m nominating Susan Ochs as our next Commissioner of the Department of Banking and Insurance. Susan brings decades of experience driving reform in the financial sector that will be key to regulating rates for New Jersey’s health and auto insurance marketplaces, holding PBM middlemen driving up prescription drug costs accountable, and going after anyone discriminating in mortgage and business lending,” said Governor-elect Sherrill.

“It is an honor to be nominated by the Governor-elect to be the Commissioner of the Department of Banking and Insurance. I share Governor-elect Sherrill’s deep commitment to protecting New Jersey consumers and ensuring that their critical needs – from health insurance to mortgages to small business loans – are accessible and affordable.  These are challenging times for financial consumers, and I look forward to leading an agency that is working every day to help secure their health and financial wellbeing,” said Susan Ochs.

Susan Ochs is an entrepreneurial leader with expertise in financial services and economic policy. With a career spanning State and Federal government, as well as industry and nonprofit roles, Susan has deep experience leading initiatives and driving reform in the financial sector.

Currently, Susan is CEO of Ochs Advisors, LLC, a NJ-based consulting firm focused on leadership and organizational strategy. She is an ICF-certified executive coach and an adjunct professor at Fordham Law School, teaching in their Program on Corporate Ethics and Compliance

Previously, Susan founded a policy initiative at the Aspen Institute to reform banking culture and outcomes, inspired by her service at the US Department of the Treasury in the wake of the 2008 financial crisis. She conducted original research, led executive trainings, and partnered with regulators, including the NY Federal Reserve Bank. Her work has been published in The New York Times and Harvard Business Review.

Her further policy experience includes serving the State of New Jersey as Senior Advisor to the Governor for Economic and Business Affairs, where she was principal liaison to the business community and supervised the design and implementation of new economic growth programs. She has also held senior roles at the U.S. Securities and Exchange Commission and the Rockefeller Foundation.

In the private sector, Susan served on the executive teams of two behavioral research firms within the WPP Group, overseeing client portfolios and leading operational change efforts. She also served as Global Head of Capital Markets at the Long-Term Stock Exchange, working to promote long-term thinking among companies and investors. Earlier in her career, she held investment roles at J.P. Morgan Investment Management and private equity firm Solera Capital.

Susan holds an MBA from Harvard Business School and a BA in Economics from Duke University. She is a New Jersey native and currently resides in Monroe Township in Middlesex County.