Andrew Sheen is best known for the 8 years he spent at the UK regulator, firstly in the FSA and subsequently at the PRA. In his time with these authorities, Andrew was manager of the Operational Risk Policy Team before moving to head the team responsible for providing Operational Risk subject matter expertise to supervisors.
This involved assessing Operational Risk frameworks in a wide variety of financial institutions. Andrew also represented the UK on the Basel Committee for Banking Supervisors Operational Risk Working Group and the European Banking Authority’s Operational Risk Working Group. As a member of the BCBS group he was actively involved in the teams drafting a number of Operational Risk papers including: The Principles for the Sound Management of Operational Risk (June 2011); Supervisory Guidelines for the Advanced Measurement Approaches (October 2010); and Recognising the risk-mitigating Impact of Insurance in Operational Risk Modeling (October 2010).
Andrew first became involved in Operational Risk in the late 1990s and by the time he joined the FSA he had already implemented Operational Risk frameworks in a number of banks. After leaving the PRA Andrew became Head of Operational Risk Use and Embedding at HSBC, where he developed an approach for measuring and improving the use and embedding of Operational Risk frameworks. He subsequently joined Credit Suisse as the Head of their Operational Risk Regulatory Risk Management capability. In that capacity he sat between the Operational Risk function and FINMA (the Swiss Regulator) and the PRA, acting as the Operational Risk contact point for the firm and the regulators and providing regulatory guidance. On his retirement in early 2019 Andrew established a Consultancy to undertake Operational Risk consulting and training.
Andrew actively promotes the development and discipline of Operational Risk and is a fellow of the Institute of Operational Risk, having previously headed the England and Wales Chapter and been a non-executive director. He produced papers on Operational Risk with colleagues at the PRA and is a regular speaker and panelist at Operational Risk Conferences globally.