The U.S. Securities and Exchange Commission (SEC) has created a new Office of Risk and Strategy within its compliance division to streamline its compliance efforts and lead its strategy, the regulator announced on Tuesday.

The new office will consolidate the risk assessment, market surveillance, and quantitative analysis teams within the compliance division, the Office of Compliance Inspections and Examinations (OCIE), the SEC says. It will also provide operational risk management and organizational strategy for the OCIE, which carries out compliance reviews of broker dealers, investment advisers, and other organizations.

“The Office of Risk and Strategy will lead our exam program’s risk-based, data-driven, and transparent approach to protecting investors,” says Marc Wyatt, OCIE director, in a statement.

OCIE managing executive, Peter Driscoll, will lead the new office, and has been named as its first chief risk and strategy officer.

Prior to joining the SEC in 2001, Driscoll was an auditor with Ernst & Young LLP and held several accounting jobs in the private sector.