APRA Announces New Organizational Structure and Executive Appointments
APRA announced changes to its organizational structure in line with the strategic objectives set out in its recently released Corporate Plan for 2019-23. APRA also announced a number of new executive appointments, reflecting the new organizational structure. The new appointments and organizational changes will formally take effect from December 01, 2019.
APRA will move to an industry-based supervision model, with separate supervisory divisions responsible for superannuation, insurance, and banking. Under the new structure, each of the six operating divisions will be led by an Executive Director, with the following appointments made:
- Sean Carmody as Executive Director, Cross-Industry Insights & Data
- Brandon Khoo as Executive Director, Insurance
- Therese McCarthy Hockey as Executive Director, Banking
- Suzanne Smith as Executive Director, Superannuation
- Steve Matthews as Chief Operating Officer and Executive Director, Enterprise Services
- Heidi Richards will act in the role of Executive Director, Policy & Advice pending a permanent appointment to that role
Following the recommendations of the Capability Review, APRA will also strengthen and intensify its focus and resources allocated to the supervision of governance, culture, remuneration, and accountability as well as technology-related risks and operational resilience. In addition, a new Accountability Regime unit is being established and this unit will be dedicated to delivering on the government’s planned extension of the Banking Executive Accountability Regime across all the industries APRA regulates.
Related Links
Keywords: Asia Pacific, Australia, Insurance, Pensions, Superannuation, Executive Appointments, Organizational Restructuring, APRA
Previous Article
BIS Publishes Annual Report and Annual Economic Report for 2018-19Related Articles
EBA Publishes Final Regulatory Standards on STS Securitizations
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
ECB Further Reviews Costs and Benefits Associated with IReF
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
EBA Publishes Funding Plans Report, Receives EMAS Certification
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
IOSCO Welcomes Work on Sustainability-Related Corporate Reporting
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
BoE Allows One-Day Delay in Statistical Data Submissions by Banks
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
ACPR Amends Reporting Module Timelines Under EBA Framework 3.2
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
APRA to Modernize Prudential Architecture, Reduces Liquidity Facility
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.
