Fidelity risk chief lands at SEC

The US Securities and Exchange Commission (SEC) has hired Charles Fishkin as director of the newly formed Office of Risk Assessment (ORA). Fishkin will manage the overall risk assessment programme, co-ordinating risk assessment activities across the agency, and will report directly to SEC chairman William Donaldson, who created ORA last year.

Fishkin most recently served as vice-president of firm-wide risk at Fidelity Investments in Boston. In this capacity, he was part of the firm's risk oversight unit, helping Fidelity manage risk across its businesses, including its mutual fund, brokerage and employee benefits units. He also serves on the board of directors of the International Association of Financial Engineers and helped found the organisation's operational risk committee, which he co-chairs.

Donaldson instituted the risk assessment initiative last year after conducting an internal review of how the agency deals with risk. ORA will co-ordinate the internal risk teams and will focus on early identification of new or resurgent forms of fraud and illegal or questionable activities.