Stephen Caruso

I take pride in ensuring the accuracy and relevance of all team reporting by deeply understanding our data sources, methodologies, and stakeholder needs. My focus on precision has consistently resulted in timely reports that require no post-review quantitative adjustments. I’ve led the preparation of materials for regulatory meetings—including cross-regional presentations and talking points—with decreasing oversight from leadership, reflecting my strong grasp of operational risk topics and evolving regulatory expectations. I regularly write high-quality qualitative commentary for senior management and board-level reports. By quickly getting up to speed on Operational Risk developments and integrating feedback, I’ve steadily reduced the need for editing and revisions. I’ve also spearheaded the drafting of regulatory response letters and remediation plans following ORM exams. By collaborating closely with stakeholders, I’ve ensured timely and sustainable closures—often securing early resolution with minimal regulator feedback. Additionally, I own the Operational Risk Dashboard, where I’ve streamlined data production timelines and enhanced collaboration with SMEs. This has enabled faster profile updates and eliminated reporting conflicts. During a recent Regional Operational Risk internal audit, I directed our team’s engagement—coordinating over 70 timely document submissions across multiple teams. Our efforts contributed to a Satisfactory Audit Rating with no new findings.

I led risk identification and management initiatives across a broad range of business areas, supporting both corporate and retail clients. A key part of my role involved driving the annual Risk Control Self-Assessment (RCSA), where I analyzed data from multiple sources and partnered with internal stakeholders to identify potential risks and implement effective remediation plans. I worked to embed risk management practices into everyday operations and strategic planning processes, ensuring alignment with regulatory requirements and internal policies through ongoing monitoring and evaluation. • Increased self-identification of risks by 60% across various business units, fostering a more proactive and accountable risk culture. • Directed the creation and implementation of detailed risk profile reports, significantly enhancing transparency and enabling better-informed decisions. • Managed quarterly RIDAR updates, maintaining full compliance with CCAR standards and supporting enterprise-wide risk alignment.

I developed a comprehensive framework for tracking regulatory issues and remediation efforts, ensuring enhanced visibility and accountability across the organization. To support this, I established monthly communication packs and executive dashboards that included regulatory updates, upcoming engagements, and the status of key issues for senior management. I led the regulatory exam management process by designing a structured governance framework, overseeing all preparation efforts, and ensuring timely and accurate document submissions. I also supported regulatory affairs by proactively identifying emerging risks and themes, sharing them with leadership to inform strategic decisions. One of my key achievements was integrating two operational teams, which led to a 50% reduction in duplicative work and significantly streamlined our processes. I also authored and coordinated executive-level regulatory responses and presentations, including Annual Assessments and Board of Directors briefings. Throughout, I worked cross-functionally to align reporting and foster consistent engagement across all departments.

In my role supporting the Global Banking and Markets division, I led the end-to-end management of headcount, diversity, turnover, and staffing analytics. I was responsible for forecasting headcount and employee-related expenses, while also driving divisional HR compliance risk assessments. I oversaw the HR Data and Analytics team, guiding the development of scalable infrastructure and reporting frameworks to strengthen our data-driven decision-making. Partnering closely with Strategy and Finance, I played a key role in preparing executive-level business reviews and regulatory presentations. I led a high-performing HR reporting and analytics team, advancing HR data governance and reporting capabilities across global business lines. I delivered a successful Workday platform rollout for 16,000 employees, significantly improving operational efficiency across HR functions. I contributed to the creation of Board and regulatory presentations, enhancing the clarity and impact of our strategic communications.

In my role, I served as the central point of contact between business divisions, control functions, and regulatory bodies, ensuring clear and consistent communication around regulatory matters. I coordinated responses to regulatory exam findings and partnered closely with functional leads to deliver detailed updates to senior management and governance forums. I led a key initiative to streamline and enhance the communication flow between internal stakeholders and regulators—this significantly improved the speed, clarity, and transparency of our responses. By developing targeted action plans, I helped strengthen our overall compliance posture, mitigate potential risks, and reinforce UBS’s standing with regulatory authorities. Collaboration was at the heart of my approach. I championed a global, team-oriented model within the Regulatory Relations team, resulting in smoother coordination and faster resolution of regulatory issues. I also regularly presented analysis on evolving regulatory trends to senior leadership, helping shape strategic decisions and bolster preparedness for future regulatory developments.

Streamlined and administered $17M budget and created financial forecasts and reports for Community Affairs Designed and executed strategic volunteer program increasing employee engagement by 77% resulting in 6,163 volunteers (+2,690 from 2014) by simplifying processes and technology and increasing outreach Managed third-party software provider, CyberGrants and liaised with key internal contacts in Finance, Legal, Compliance and Government Affairs to create fit-to-purpose platform accessed by more than 10,000 employees

Managed Operational Risk program for Regional COO; developed remediation plans and firm’s responses to Federal Reserve and additional regulatory bodies, including FINRA and SEC Served as Secretary for Executive Risk body within WMA interfacing with executive management; coordinated across 10 different functions to ensure appropriate escalation, accurate reporting and timely delivery Oversaw and collaborated with various regional and WMA specific Operational Risk governance forums and processes in conjunction with functional Risk Officers and the Chief Operating Officer Restructured regional governance ecosystem and implemented enhanced accountability measures to satisfy regulatory requirements

Business Manager – Global Fixed Income, Currencies & Commodities Research Provided direct support to seven senior managers across six product areas overseeing budgets in excess of $200M, creating annual business plans and analyst performance goals, and serving as primary liaison to HR, Finance and Technology departments Systematized the tracking and measurement of analyst interaction with clients; worked with Sales to deliver quarterly reporting and correlation studies on consumption vs. revenue Managed the year-end survey process that provides quantitative and qualitative feedback on 200+ analysts from Sales & Trading professionals Led marketing campaign to promote the Fixed Income Research franchise in support of the annual industry wide Institutional Investor survey netting 2nd place result for the department Business Manager – Global Research COO Initiated and implemented a Blast Voicemail technology platform which replaced vendor provided solution resulting in savings of $.5M annually Assisted Global Research group head and senior management with deposition preparation and strategy development on monitoring and reporting of BofAML Research misappropriation in the media Delivered a focused strategy to protect access to research content and increase commercial value; culled data from multiple vendors and provided insight to management. Implemented third party access processes, corrective actions, commercial discussions with vendors and on boarded ICP partner allowing BofAML to scale ICP efforts Managed the annual evaluation and compensation process for 60+ operations professionals.