Operational Risk Management and Related Issues from a Regulatory and Compliance Perspective
October 22, 2008
On October 21, 2008, the New York Office issued an Alert Memorandum entitled "Operational Risk Management and Related Issues from a Regulatory and Compliance Perspective." Bob Tortoriello prepared this Outline in connection with the Institute of International Bankers Annual Seminar on Regulatory Examination, Risk Management and Compliance Issues Affecting International Banks, held on October 22. The Outline is intended to focus on supervisory trends regarding operational risk management and related issues primarily from a regulatory and compliance perspective (including legal/reputational risk, and risk related to trading and capital markets activities). Although the Outline approaches these questions principally from the perspective of international wholesale banks, many of the points made are relevant to large, complex U.S. domestic banking organizations as well.