SEC’s ORA mission and structure outlined

NEW YORK – An internal source at the Securities and Exchange Commission (SEC) has outlined the mission and structure of the new Office of Risk Assessment (ORA), in an exclusive interview with Operational Risk magazine. The ORA will manage the overall risk assessment agenda and co-ordinate risk assessment activities across the agency.

Announcing the formation of the ORA in early July, SEC chairman William Donaldson named Charles Fishkin as director. Fishkin, a former vice-president for firm-wide risk at Fidelity Investments in Boston, will manage the overall risk assessment programme, reporting directly to the SEC chairman.

Donaldson said: "The Office of Risk Assessment, and the important groundwork we’ve laid for this critical initiative, will help the agency ensure a process whereby senior managers at the Commission have