Regulatory Examination, Risk Management and Compliance Issues Affecting International Banks

On October 30, 2007, the New York office issued an Alert Memorandum entitled “Regulatory Examination, Risk Management and Compliance Issues Affecting International Banks.” Bob Tortoriello and Tim Byrne prepared this forty-five page 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 30. The Outline is intended to focus on supervisory trends regarding operational risk management primarily from a regulatory and compliance perspective (including legal/reputational risk, and risk related to complex structured finance transactions). 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.