Reval, a global derivative risk management and hedge accounting solutions provider, has announced the formation of a board-level risk and compliance committee and has hired a chief compliance officer in advance of its registration as a Swap Data Repository (SDR) with the U.S. Commodity Futures Trading Commission.

Serving as Reval’s chief compliance officer will be Patrick Trozzo, who has 28 years of strategic planning, operations and compliance experience in derivatives markets. Previously, Trozzo was a managing director at The Carlyle Group; senior adviser at Cerberus Capital Management; and a portfolio manager in alternative investments in the fixed income and foreign exchange markets for Cape Capital Management, a firm he co-founded. He also served as head of trading and market risk management in the fixed income and foreign currency derivative markets for West LB, Deutsche Bank, DKB Financial Products, and Security Pacific Bank.

Trozzo will be reporting to Reval's new risk and compliance committee. Members on that new committee include:

Jiro Okochi, Reval CEO, co-founder and chairman of the board. With 23 years experience in finance and technology, Okochi started Reval in 1999 after holding senior positions in derivative sales at major global banks, including WestLB, Deutsche Bank, DKB Financial Products (now part of Mizuho), and Security Pacific Bank (now part of Bank of America).

Steven Kohlhagen, co-creator of the widely used Garman-Kohlhagen pricing model, the formula for estimating the value of a European call option on foreign exchange. Over the past 30 years, he has served academia as a professor at the University of California, Berkeley and has built sales teams and derivatives businesses at Lehman Brothers, Bankers Trust, and First Union/Wachovia, among other leading financial institutions.

Fred Cohen, a retired PricewaterhouseCoopers partner and currently managing director at Perception Advisors. In his capacity as PwC Global and US Advisory Leader for the Energy, Utility and Mining industry sectors, he advised U.S. utilities on business strategy, financial and enterprise risk management and financial and management reporting. Prior to PwC, he built KPMG’s treasury consulting practice, integrating advisory, assurance and tax practices.

Steve Rosenberg, senior vice president of Phase Forward, a provider of data management solutions for clinical trials and drug safety. At Phase Forward, Rosenberg oversees product development, product management, the World Wide services and support organizations and the company's worldwide production hosting operation. Previously, he served as the senior vice president of Development and Client Services at W3 Health, where he led the development and implementation of the company's flagship healthcare analytics ASP environment.

Reval first announced its intention to become an official SDR for non-financial entities and their counter-parties last July, after the company began working with lawmakers in Washington, D.C. on behalf of its corporate end-user clients. Okochi explained then that Reval already operates as an SDR in that it books, manages risk, values and accounts for derivatives that companies use to hedge commercial risk.