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RBA announces new COO role

By Rhea Nath
2 minute read

The Reserve Bank has made a key appointment in its executive team, promoting an assistant governor to the newly created role of chief operating officer.

The Reserve Bank of Australia (RBA) has tapped Susan Woods to be its new chief operating officer, commencing on 4 March 2024.

In the newly created role, Ms Woods will work alongside the bank’s new deputy governor, former Bank of England veteran Andrew Hauser, ensuring coordination between policy, operational and organisational decision making.

She will also work closely with the governor, Michele Bullock, towards implementing the changes recommended by the RBA review last year.

Ms Woods has been with the RBA since 2018 as assistant governor, corporate services, with responsibility for the bank’s information technology and facilities management departments and the Enterprise Data Office.

Over the last six years in this role, she has overseen the delivery of a substantial technology-related change, uplift of data governance and strategic planning capabilities, and the renovation of the bank’s head office in Sydney.

She brings over three decades of experience in the financial services sector to the role, having worked across various business functions including sales and distribution, back office support, and produce manufacture.

Prior to joining the RBA, Ms Woods served as general manager for business technology services and transformation at StatePlus for over four years, where she was responsible for information technology, the design and implementation of a new operating model for the business, and the enterprise strategic project portfolio.

Her resume also includes five years as a partner at Deloitte in strategy and operations consulting and two years as vice-president at Capgemini, specialising in business process reengineering and program management.

The new role comes a few months after the appointment of Mr Hauser as deputy governor of the RBA in late 2023.

In a statement, Treasurer Jim Chalmers said Mr Hauser would bring international expertise in macroeconomics, markets, and central banking operations to the RBA, taking over from Michele Bullock who stepped up as governor.

“His appointment strikes the right balance between providing deep central banking experience and offering a fresh, global perspective to the work of the RBA,” the Treasurer said.

“He will work closely with governor Bullock to implement the recommendations of the review of the Reserve Bank of Australia, including a stronger monetary policy framework for the benefit of all Australians.”