Deloitte Adds FDIC's Robert Burns to Further Enhance Regulatory Services for Banking and Securities

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Jun 26, 2015, 10:01 ET

NEW YORK, June 26, 2015 /PRNewswire/ -- Deloitte, one of the leading professional services organizations in the U.S., announced today that Robert Burns, former deputy director of the Federal Deposit Insurance Corporation's complex financial institutions group, has joined its ranks. Burns works within Deloitte Advisory, the market-leading risk and financial advisory practice of Deloitte & Touche LLP, as a director in its banking and securities regulatory offering helping U.S. and international banking clients on their resolution planning, capital stress testing, liquidity coverage, regulatory reporting and credit risk management efforts.

A 25-year veteran of the financial regulator, Burns was most recently the senior executive responsible for risk analysis and supervisory programs of systemically important financial institutions. In that role, he was at the forefront of the FDIC's efforts to review all SIFI resolution plans (better known informally as "living wills") and led the subsequent efforts with banks to "make significant progress" to address the gaps seen by regulators.

"The regulatory landscape for banking institutions continues to become only more complex and banks are in various stages of a multi-year transition to evolve their regulatory compliance efforts," said Kevin McGovern, Deloitte Advisory partner, Deloitte & Touche LLP, and governance, regulatory and risk strategies leader. "Areas like living wills, stress testing and liquidity coverage are among the mission-critical areas and adding Robert to our ranks only bolsters the team's extensive knowledge of some of the biggest challenges that the banks of all sizes face today."

Burns served in numerous roles in his 25 years with the FDIC, including as the associate director in the large bank branch team, a section chief in the complex financial institutions branch and a senior bank examiner in the large financial institutions group. His work included a number of key policy initiatives stemming from the Dodd-Frank Act, in particular the stress testing exercise, as well as credit-risk issues like leveraged lending. He was also responsible for numerous big-bank risk analysis and supervisory programs at some of the nation's largest banks and served as the FDIC's lead representative at several large complex institutions' stress situations during the financial crisis.

"This is a time of transformation for the biggest financial institutions, as they turn the page from rules being finalized over the past few years to shifting to the even bigger task of implementation and compliance," said Burns. "Whether nailing down the final details of their recovery and resolution plans or changing their structure and increasing optionality on a broader level, there is a lot for bank executives to chew on."

About Deloitte Advisory
Deloitte Advisory helps organizations turn critical and complex business issues into opportunities for growth, resilience and long-term advantage. Our market-leading teams help our clients manage strategic, financial, operational, technological, and regulatory risk to maximize enterprise value, while our experience in mergers and acquisitions, fraud, litigation, and reorganizations helps clients move forward with confidence.

Within the last 18 months, Deloitte's market-leading risk advisory services practice has added luminaries from government and industry, and provided valuable insights to clients through contributions from individuals including:

David Wright, formerly the senior vice president and deputy director of the Federal Reserve Bank of San Francisco's supervision and regulation division.
Mary Galligan, who had a 25-year career with the Federal Bureau of Investigation, where she was Special Agent in Charge of Cyber and Special Operations for the New York office
Dr. Elisabeth Hagen, former undersecretary for Food Safety at the Department of Agriculture (USDA)
Keith Darcy, former executive director of the Ethics & Compliance Officer Association (ECOA).

There are more than 1,500 professionals focused on providing risk and regulatory insights to Deloitte Advisory's banking and securities clients. These professionals include senior supervisory officials and examiners formerly from the Federal Reserve, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Commodity Futures Trading Commission and the FDIC.

As used in this document, "Deloitte" and "Deloitte Advisory" means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services; and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. These entities are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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