Operational Risk Management and Related Issues from a Legal and Regulatory Perspective

On October 19, 2009, the New York office issued an Alert Memo entitled “Operational Risk Management and Related Issues from a Legal and Regulatory Perspective.” Bob Tortoriello prepared this Outline in connection with the Institute of International Bankers Annual Seminar on Risk Management and Regulatory Examination/Compliance Issues Affecting International Banks, to be held on October 20. 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.