Friday, May 8, 2009

SEC Beefing Up Office of Risk Assessment

The SEC announced recently that it would reinforce the agency's Office of Risk Management by attracting experienced industry professionals to assist the Commission with its efforts to identify and assess risks in the financial markets. Through a fellowship program similar to the ones in place for accountants and economists, the SEC hopes to bring professionals into the agency with extensive experience in the financial markets including: trading in equity and fixed income securities, structured products, complex derivatives, financial analysis and valuation, fund management, investment banking and financial services operations.

According to Chairman Schapiro and the Office of Risk Management's director, Jonathan Sokobin, these new professional fellows will help educate the staff on risk principles and areas of focus, and help them to identify emerging issues and adapt the Commission's oversight.

Applications for these fellowships are due by June 1, 2009.

The full text of the SEC's announcement can be found at:

The Forum is pleased to have Mr. Sokobin as our lunch speaker at our program, "Risk Principles for Fund Directors" at Columbia University on June 23, 2009. Directors interested in increasing their understanding of their role and responsibilities in overseeing their funds' risk management will not want to miss this event, or Mr. Sokobin's remarks.