APRA makes executive hires
The prudential regulator has announced six executive hires to oversee six new divisions as it shifts to an industry-based supervision model.
This new model will include separate supervisory divisions responsible for superannuation; insurance and banking.
The following hires include:
- Sean Carmody - executive director, cross-industry insights & data;
- Brandon Khoo - executive director, insurance;
- Therese McCarthy Hockey - executive director, banking;
- Suzanne Smith - executive director, superannuation; and
- Steve Matthews - chief operating officer and executive director, Enterprise Services.
- Heidi Richards will act in the role of executive director, policy and advice pending a permanent appointment to that role.
APRA chair Wayne Byres said the changes will assist APRA to maintain its focus on protecting the financial well-being of the Australian community, while sharpening focus and lifting capabilities in supervising newer and emerging risks.
Following the recommendations of the Capability Review, APRA will also strengthen and intensify its focus and resourcing allocated to the supervision of governance, culture, remuneration and accountability (GCRA), as well as technology-related risks and operational resilience.
In addition, a new accountability regime unit is also being established, dedicated to delivering on the government’s planned extension of the Banking Executive Accountability Regime across all the industries APRA regulates. Further appointments to the new structure will be announced in due course.
The new appointments and organisational changes will formally take effect from 1 December.