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.