Federal Reserve's David Wright and OCC's David Wilson Join Deloitte's Market-Leading Risk Advisory Practice

Financial services industry luminaries enhance Deloitte's regulatory and risk management capabilities

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Jul 21, 2014, 09:59 ET

NEW YORK, July 21, 2014 /PRNewswire/ -- David Wright, senior vice president and deputy director of the Federal Reserve Bank of San Francisco's supervision and regulation division, and David Wilson, a former lead examiner and risk committee co-chair with more than 30 years' experience at the Office of the Comptroller of the Currency (OCC), have joined Deloitte's Risk Advisory practice.

Both will serve U.S. and international clients in Deloitte's banking and securities regulatory business. Wright, a managing director, will focus on capital planning and stress testing, as well as risk management. Wilson, a senior advisor, will assist clients with risk governance, credit, and market risk and regulatory management.

"The continued wave of new regulations across all the financial services sectors has created enormous compliance and regulatory hurdles for our clients," said Owen Ryan, chief executive officer of Deloitte & Touche LLP's Risk Advisory practice. "These clients know the potential impact non-compliance can have on their brand and reputation, and are looking for seasoned advice so they can make better decisions. Industry leaders like David Wright and David Wilson bring a depth of experience and confidence that clients seek in a trusted business advisor."

Most recently, Wright oversaw the regulatory supervision of financial institutions with assets larger than $50 billion located in the Fed's San Francisco district, which includes the nine western states. In addition, Wright was a key member of the national supervision and regulation team, serving as a senior supervisor on the Federal Reserve's operating committee. Prior to joining the San Francisco Fed, Wright was a member of the supervision and regulation division at the Board of Governors of the Federal Reserve for 16 years, rising to the role of associate director of risk management supervision. Wright retired from the Federal Reserve in July.

"As one of the key architects for the regulatory implementation of the Dodd-Frank Act, David Wright helped establish capital planning and stress testing supervisory standards for both domestic and foreign banks, as well as other aspects of the enhanced prudential standards that are top of mind for many bank leaders today," said Deborah Bailey, Deloitte & Touche LLP vice chairman. "Having known both David Wright and David Wilson for almost two decades each, I know our clients will quickly realize how much they bring to the table and how well-served they will be by their backgrounds."

Wilson served as the OCC's lead examiner-in-charge of two large, global banks over the course of 15 years. He also held a number of policy-focused roles at the agency, including senior national bank examiner and co-chair of the OCC's national risk committee. He was heavily involved in the regulatory rulemaking process and worked with members of Congress and their staffs on the Dodd-Frank Act. He also participated in the Financial Stability Oversight Council (FSOC) process, including serving as the OCC representative to the FSOC's systemic risk committee and chairing the interagency task force on supervision.

Within the past few years, Wilson was appointed deputy comptroller for credit and market risk and then, briefly, senior deputy comptroller and chief national bank examiner before moving back to a senior bank examiner role. He originally joined the OCC in 1976.

"There has been certainly a focus by banks on improving their governance and risk oversight since 2008, and the bar only rises further each year," said Bob Contri, vice chairman and the leader of Deloitte's financial services industry practice. "Firms will also continue to make strategic decisions, driven by capital constraints and demands for improved return on equity, divesting or acquiring in areas where they believe they can compete and win. Both David Wright and David Wilson will be tremendous assets to our clients in working through these decisions."

About Deloitte's Risk Advisory Practice
Deloitte's Risk Advisory Practice helps organizations build value by taking a strategic risk approach to managing financial, technology and business risks. This approach helps our clients focus on their areas of increased risk, bridge silos to effectively manage risk across organizational boundaries and seek not only risk mitigation, but also pursue intelligent risk taking as a means to value creation.

Within the last several months, Deloitte's market-leading Risk Advisory Services practice has added luminaries from government and industry, including Mary Galligan, former FBI cyber division special agent, as well as independent advisors Dr. Elisabeth Hagen, former under secretary for Food Safety at the United States Department of Agriculture (USDA), and 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's banking and securities clients. These professionals include senior supervisory officials and examiners formerly from the Federal Reserve, the OCC, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Commodity Futures Trading Commission and the Federal Deposit Insurance Corporation.

As used in this document, "Deloitte" means Deloitte & Touche LLP, a subsidiary 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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