NEW YORK, Jan. 8, 2013 /PRNewswire/ -- Deloitte & Touche LLP continues to strengthen its regulatory and risk services capabilities with the addition of Mike Fay and Peter Reynolds to its governance, regulatory & risk strategies (GR&RS) practice. Fay and Reynolds will be part of Deloitte's financial services industry practice, providing risk and compliance services to Deloitte's asset management and banking and securities clients.
Fay, a principal in Deloitte's Boston office, previously served as chief compliance officer for a leading financial services institution. He was responsible for the organization's global compliance strategy as well as leading a worldwide team of compliance professionals. Fay is credited with leading various initiatives to promote the organization's compliance position through the enhancement of risk assessment methodologies and operational practices.
"With all of the compliance and regulatory challenges facing companies in today's market, it's essential to build your compliance program with the help of experienced advisers," said Fay, who will serve in a leadership role in asset management for the GR&RS practice. "I look forward to working with the Deloitte team to continue to implement best in class compliance strategies."
Fay is returning to Deloitte, where previously served 13 years including a leadership role with Deloitte's asset management practice. Fay is a certified bank auditor and certified risk professional.
"Mike's wealth of experience in spearheading risk and compliance-based programs is a significant asset to our practice and to our clients," said Kevin McGovern, national managing partner, governance, regulatory & risk strategies, Deloitte & Touche LLP.
Reynolds, a director in Deloitte's Parsippany, N.J. office, was previously the chief risk officer at Barclays' Wealth Americas, and responsible for managing the coverage of risk issues across the region, including operational and credit risks.
Previously, Reynolds was chief compliance officer and head of regulatory risk at RBS Americas where he instituted an enterprise wide compliance program consistent with regulators' expectations and requirements. In addition, Reynolds spent a decade at Citibank holding various risk and regulatory management roles including loan review, audit, corporate workout, and regulatory relations. During his Citibank tenure, Reynolds spent a year in South Korea integrating the risk and compliance organizations for Citibank's largest Asian acquisition, KorAm Bank. He later served as global head of operational risk for Citibank's Private Bank.
Reynolds is also an experienced regulator, previously serving as a credit examiner for the U.S. Office of the Comptroller of the Currency.
"Deloitte's reputation for leading regulatory, risk and compliance services precedes itself and I am truly excited to be joining such a highly respected practice," said Reynolds.
McGovern adds, "Peter brings an extensive background of more than 30 years of experience, the majority of which lies within the realm of banking and regulatory issues, but is specifically focused on risk and compliance."
Deloitte's Governance, Regulatory & Risk Strategies Practice
Deloitte's governance, regulatory & risk strategies practice professionals provide consultative services to assist organizations and their boards in their efforts to create and protect value and enhance effective management of their strategic, regulatory, financial, operational, and compliance risks on a sustained basis. Deloitte helps develop sustainable governance, compliance, and risk management programs by helping organizations identify, remediate, monitor, exploit, and manage enterprise risks in addition to coordinating the utilization of people, process, and technology to improve effectiveness and help manage costs.
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. 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.
SOURCE Deloitte & Touche LLP