About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

DTCC Names Leonard Head of Operational Risk

Subscribe to our newsletter

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 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, 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.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to leverage Generative AI and Large Language Models for regulatory compliance

Date: 8 May 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Generative AI (GenAI) and Large Language Models (LLMs) offer huge potential for change across capital markets, not least in regulatory compliance where they have the capability to help firms understand and interpret regulations, automate compliance, monitor transactions in real...

BLOG

SmartStream Names Akber Jaffer as CEO

SmartStream Technologies has named Akber Jaffer as CEO. He replaces Haytham Kaddoura, who held the post for over seven years and now becomes an advisor and board director at the company. Jaffer has several years of experience working with start-ups and scaling software and technology businesses, and most recently spent a year as a freelance...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...