SEC Creates Office of Risk and Strategy for its National Exam Program, Appoints Executives

The Securities and Exchange Commission announced the creation of the office of risk and strategy within its office of compliance inspections and examinations. The new office will consolidate and streamline OCIE’s risk assessment, market surveillance, and quantitative analysis teams and provide operational risk management and organizational strategy.

Peter Driscoll will lead the office and has been named as its first chief risk and strategy officer. In this role, he will manage the new office and the investment adviser/investment company examination staff based in Washington, D.C.

“The office of risk and strategy will lead our exam program’s risk-based, data-driven, and transparent approach to protecting investors,” said OCIE director Marc Wyatt. “Pete brings exceptional industry and operational knowledge, strategic leadership, and a track record of innovation to his new role.”

The office of compliance inspections and examinations conducts the SEC’s national examination program through examinations of SEC-registered investment advisers, investment companies, broker-dealers, municipal advisors, self-regulatory organizations, clearing agencies, and transfer agents. It uses a risk-based approach to promote compliance with U.S. securities laws, prevent fraud, monitor risk, and inform SEC policy.

Driscoll has been OCIE’s managing executive since 2013. He started at the SEC in 2001 as a staff attorney in the division of enforcement in the agency’s Chicago regional office. He joined OCIE in 2004 as a branch chief in the investment adviser/investment company program and later served as the Chicago office’s ethics liaison officer and assistant regional director.

He holds a bachelor’s and law degree from St. Louis University, and is a licensed certified public accountant in the state of Missouri and a member of the Missouri Bar.

Robert Fisher will succeed Driscoll and serve as managing executive of the office of compliance inspections and examinations. In this role, he will oversee business operations, technology services, examiner training, and tips, complaints and referrals programs.

“Rob has terrific experience and brings proven skill sets to the position of managing executive,” said Wyatt. “I look forward to working with him to further advance the effectiveness of our national exam program.”

Fisher joined the SEC in 2002 as an economic fellow in the office of economic analysis, now the division of economic and risk analysis. He was named an assistant director in the office of international affairs in 2005, with responsibility for the SEC’s technical assistance program for emerging markets. He became OIA’s deputy director in 2012 and later served as the office’s acting director. In 2014, Fisher joined OCIE as an associate director within its office of the director.

Prior to joining the SEC, Fisher was a Washington, D.C.-based attorney in private practice and clerked for Judge Stephen F. Williams of the U.S. Court of Appeals for the D.C. Circuit. He previously served as an adjunct professor of law at the Georgetown University Law Center, associate professor at the College of Holy Cross, visiting fellow at Cambridge University, and research fellow at the Australian National University.

Fisher holds a Ph.D. and bachelor’s degree in economics from Duke University and a juris doctorate from Harvard Law School where he graduated magna cum laude.