The Australian Prudential Regulation Authority (APRA) has implemented changes to the structure and responsibilities of its executive team, including appointments to accompany the regulator’s existing member and executive director (ED) group.
These changes come after Therese McCarthy Hockey and Suzanne Smith were appointed APRA members, vacating their roles as EDs, APRA said in a press release.
A three-month recruitment process was then launched to fill the vacancies from movements within the leadership team.
In conjunction to the recruitment process, APRA members also reviewed the current organisational structure and decided to make changes in support of the delivery of APRA’s corporate plan.
The changes made by APRA members focused on strengthening the regulator’s technology and data capability, along with its communication and stakeholder teams. APRA said it has created new ED-level roles in pursuit of this goals, namely ED technology & data and chief of staff.
Following these changes, APRA confirmed the following appointments to its leadership team, effective March 1:
Beverley-Smith joins APRA from Westpac, where she most recently held the role of general manager, risk transformation delivery integration.
Magill, meanwhile, comes over from Macquarie, where she most recently worked as global lead - business operational risk, commodities, and global markets group.
In December, APRA confirmed its plans to create a five-year roadmap to modernize its data collection from over 2,000 regulated entities in the financial industry, responding to feedback it had received on an earlier proposal.
The regulator said it wants to fully retire the Direct to APRA (D2A) tool and completely transition to the new data collection system APRA Connect by 2027.
