APRA Announces New Organizational Structure and Executive Appointments

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

• Media Release
• Organization Chart (PDF)

Keywords: Asia Pacific, Australia, Insurance, Pensions, Superannuation, Executive Appointments, Organizational Restructuring, APRA