The Australian Prudential Regulation Authority (APRA) has outlined changes to its structure and the responsibilities of its executive team, including a number of new appointments to complement the prudential regulator’s existing member and executive director (ED) group.
These changes come after Therese McCarthy Hockey and Suzanne Smith were appointed APRA members last October from their former roles of ED banking and ED superannuation, respectively.
APRA noted that it had undertaken a recruitment process over the past three months to fill the resultant vacancies in its leadership team, considering both internal and external candidates.
“In parallel to the recruitment process, the APRA members reviewed the organisational structure and decided to make some changes to better support delivery of APRA’s corporate plan,” the prudential regulator explained.
“These changes focus primarily on strengthening APRA’s capability in technology and data and also aligning its communication and stakeholder teams. This will be done through the creation of two new ED-level roles: ED technology and data and chief of staff.”
Bruce Young, who was formerly general manager operational resilience at APRA, will take up the newly created role of ED technology and data, while the new chief of staff role will be filled by Jane Magill, who joins the regulator after a long career with Macquarie.
“Jane brings broad risk management and global commercial leadership experience and has operated as both a first and second line risk manager,” APRA said.
Ms Magill most recently served as global lead – business operational risk, commodities, and global markets group at Macquarie. She also previously held a number of senior leadership roles across commodity markets and in leading key sector portfolios.
“Jane has particular talent as a strategist and a problem solver to bring about effective and sustainable change. She is passionate about diversity, and in particular, has championed programs to improve gender inclusion, as well as social impact causes,” APRA said.
Meanwhile, Clare Gibney will transition from general manager resolution to ED policy and advice, and Carmen Beverley-Smith will join APRA to fill the vacant ED superannuation role.
Ms Beverley-Smith has held diverse leadership roles at Westpac and the Commonwealth Bank over the past 20 years, including across risk, transformation and change, product and portfolio development, and sales and service.
She was most recently general manager, risk transformation delivery integration, at Westpac, where she led the group-wide implementation of a suite of solutions to uplift the group’s risk management capability, develop data, analytics and reporting, and mature risk culture.
“Carmen is passionate about driving delivery excellence and applying creative solutions to improve organisational outcomes,” said APRA.
“Alongside her skills in strategy delivery, change and transformation and operational excellence, Carmen leads with a values-driven approach and a particular interest in developing and mentoring talent.”
In addition to the aforementioned changes, APRA announced that Renée Roberts will move from ED policy and advice to ED banking. All of the new appointments will take effect from 1 March, other than Jane Magill, who will join the regulator in May.
