17 March 2018
visit www.nextgenbanking.co.uk

DTCC names Andrew Leonard head of operational risk

23 September 2010  |  3277 views  |  0 Source: DTCC

The Depository Trust & Clearing Corporation (DTCC) announced today that it has named Andrew Leonard as managing director and head of Operational Risk for DTCC. In this new position, Leonard will report directly to Donald F. Donahue, DTCC chairman and chief executive officer.

Leonard is a financial industry veteran with more than 25 years' experience leading operational risk, regulatory compliance and auditing. Most recently, he served as senior vice president and head of Operational Risk for Fannie Mae from 2006 through 2009. He held similar senior roles with both Wachovia Bank and at Goldman Sachs Group prior to that.

"We are delighted that a person with Andy's broad expertise will be leading operational risk at this critical juncture," said Donahue. "While DTCC has an extremely strong record of managing during times of industry crisis and mitigating risk, as we did during the Lehman Brothers, Inc bankruptcy, there's no question that we need to rise to an even higher level of performance.

Andy will play a key role in helping us transform DTCC in how we think about risk, how we manage it and how we achieve "best in class" risk capabilities to protect DTCC—and the industry."

Over the past several months, DTCC has been working with Ernst & Young to craft a detailed vision of the enhanced operational risk capabilities that DTCC is looking to implement. The new program will serve as a road map for the company and Leonard will have primary responsibility for guiding the execution of the plan. While building on past efforts and accomplishments, the new plan outlines a top-to-bottom systematic and disciplined review of all activities across the organization from an operational risk perspective.

Leonard, while at Fannie Mae, was responsible for restructuring and centralizing operational risk, compliance and Sarbanes-Oxley initiatives into one comprehensive risk program. He led a Lean Six Sigma quality team for Enterprise Operations under the direction of the chief operating officer, and created and implemented a standardized risk-based assessment across all the business units to identify, measure and manage operational risk.

While at Wachovia Bank from 2004 to 2006, he served as managing director and head of Operational Risk, ll Risk, and was vice president and head of Operational Risk at Goldman Sachs from 2000 to 2004, where he was responsible for establishing a firm-wide operational risk management framework reporting to the chief risk officer.

From 1982 to 2000, Leonard was at Deutsche Bank/Bankers Trust Company in a variety of audit and operational management positions, including managing director of Global Operations/Global Markets and Global Emerging Markets for Bankers Trust Company.

Leonard holds a Bachelor of Arts in Accounting and Business Administration from Rutgers University in New Jersey.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Augmentum Fintech raises £94m in IPOAugmentum Fintech raises £94m in IPO
11765 views comments | 25 tweets | 5 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
6788 views comments | 8 tweets | 7 linkedin
BIS warns central banks on digital currency issuanceBIS warns central banks on digital currenc...
6456 views comments | 18 tweets | 17 linkedin
Capital One virtual assistant can now issue virtual card numbersCapital One virtual assistant can now issu...
6216 views comments | 12 tweets | 11 linkedin
Starling and TrueLayer integrate for open bankingStarling and TrueLayer integrate for open...
6145 views comments | 13 tweets | 9 linkedin

Featured job

Find your next job