APRA’s senior executive accountable persons
APRA Chair - John Lonsdale
Accountable person details
| Name | John Lonsdale |
|---|---|
| Role title | APRA Chair |
| Role start date | October 2022 |
| Reports to | Treasurer of the Commonwealth of Australia |
| Last updated | June 2024 |
Part or aspect of APRA’s operations which the accountable person has actual or effective management or control
| The APRA Chair is APRA’s ‘accountable authority’[1] appointed by the Governor-General of the Commonwealth of Australia. As the accountable authority, the APRA Chair has ultimate responsibility for APRA’s operations. The APRA Chair is an official under the Public Governance Performance and Accountability Act 2013 (PGPA Act) responsible for leading, governing and setting the strategic direction for APRA. The APRA Chair together with the Executive Board oversees delivery of APRA’s key strategic initiatives. The Chair leads the oversight of matters related to overall financial system stability, and also has responsibility for managing the Chief of Staff function in the Chief of Staff and Enterprise Services Division. |
| APRA committees / groups | Chair of APRA’s Executive Board (EB), Executive Committee (ExCo) and Prudential Policy Committee (PPC). |
[1] As per Section 7 of the APRA Act.
Accountabilities
| Description of accountability | Joint? (Yes/No) | |
|---|---|---|
| STATUTORY OBLIGATIONS | Adhering to the relevant governance, reporting and accountability requirements, duties and other legal obligations specified in the PGPA Act, APRA Act, and other applicable legislation. | No |
| EXECUTIVE BOARD RESPONSIBILITIES | Achieving APRA’s statutory objectives, meeting the requirements in the Government’s Statement of Expectations and APRA’s Statement of Intent, and decisions made by APRA’s Executive Board including approval of APRA's Corporate Plan, prudential policies / priorities and supervision model. | Yes, with all other members of APRA’s Executive Board. |
| Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct, across APRA. | ||
| CHAIR OF GOVERNANCE COMMITTEES | Conducting meetings as Chair of a number of APRA’s key governance forums, such that agenda items align with APRA’s vision, mission, strategic direction and operating requirements; and that meetings provide an environment that support constructive debate, discussion and challenge. | No |
| RISK MANAGEMENT | Overseeing APRA’s risk framework, ExCo’s risk management, emerging strategic risks and out-of-tolerance risk. | Yes, with all other members of APRA’s Executive Board. |
| Overseeing the management, monitoring and mitigation of APRA’s risks, within agreed risk appetite and risk tolerances. | Yes, with all other members of APRA’s ExCo, the Chief Risk Officer and the Chief Internal Auditor. | |
| ORGANISATIONAL EFFECTIVENESS | Developing APRA’s Corporate Plan and approving major frameworks, policies, processes and infrastructure that support APRA’s organisational effectiveness (other than those approved by APRA’s Executive Board). | Yes, with all other members of APRA’s ExCo.
|
| Establishing and driving APRA’s desired organisational culture. | ||
| PRUDENTIAL POLICY | Approving consultation packages and prudential policy (including prudential standards, regulations and guidance). Approving major internal policies and processes relevant to the development of prudential policy. | Yes, with all other members of APRA’s PPC. |
| Approving the issuance of consultation packages and other guidance or information. | Yes, with all other members of APRA’s PPC. | |
| Approving the issuance of final prudential policy. | Yes, with all other members of APRA’s PPC. | |
TALENT MANAGEMENT
| Selecting, appointing and evaluating the performance of Executive Directors. Succession planning for critical roles in APRA including Executive Directors. | Yes, with all other members of APRA’s Executive Board. |
| Selecting, appointing, evaluating the performance of, and succession planning for, non-executives that occupy positions on APRA’s Audit and Risk Committee. | No | |
| GOVERNMENT AND REGULATORY COOPERATION | Engaging with Government and Parliament more broadly to pursue APRA’s objectives. Briefing the Government, through the Treasurer or other Ministers on APRA’s activities, operations, resourcing needs and other significant matters. | Yes, with all other members of APRA’s Executive Board. |
| Ensuring open and constructive working relationships are established and maintained with peer regulatory agencies and regulatory bodies, both domestically and internationally. | ||
| EXTERNAL REPRESENTATION | Building APRA’s profile and reputation amongst external stakeholders ensuring APRA’s purpose, strategy and prudential policy is well understood. | Yes, with all other members of APRA’s Executive Board. |
| Fulfilling the role of APRA’s representative on respective domestic and international committees / forums, ensuring that APRA’s views and interests are appropriately conveyed and actively pursued. | No | |
| PROVISION OF INFORMATION | Providing accurate and timely information and advice (subject to APRA’s confidentiality obligations) to the Australian Parliament (including through Parliamentary Committees), the Auditor-General, the Commonwealth Ombudsman and Government Ministers. | No |
APRA Member - Therese McCarthy Hockey
Accountable person details
| Name | Therese McCarthy Hockey |
|---|---|
| Role title | APRA Member |
| Role start date | October 2022 |
| Reports to | APRA Chair, John Lonsdale |
| Last updated | June 2024 |
| Part or aspect of APRA’s operations of which the accountable person has actual or effective management or control | APRA Member, Therese McCarthy Hockey, (hereby referred to as APRA Member in this statement), is appointed by the Governor-General of the Commonwealth of Australia. The APRA Member leads the oversight of prudential regulation and supervision of Australia’s banking industry, and APRA’s policy direction, striving to protect the financial well-being of Australians and improving outcomes for the Australian community. The APRA Member oversees APRA’s Cross-industry Division (CID), whose objectives include maintaining strong analytical capabilities using available data and specialist expertise to support well-founded, risk-based decisions. The APRA Member also oversees the Supervision Practice function, which provides expert advice on supervision practices to frontline divisions and CID. Additionally, the APRA Member has accountability for operational resilience and cyber matters. The APRA Member also oversees APRA’s Internal Audit function which provides independent evaluation of the effectiveness of internal controls, risk management and governance processes throughout APRA. The APRA Member together with the Executive Board also oversees delivery of APRA’s key strategic initiatives. |
| APRA committees / groups | Chair of APRA’s Supervision Oversight Committee (SOC). Member of APRA’s Executive Board, Executive Committee (ExCo), and Prudential Policy Committee (PPC). |
| External committee representation | Trans-Tasman Council on Banking Supervision and Council of Financial Regulators, Basel Committee for Banking Supervision. |
Accountabilities
| Description of accountability | Joint (Yes/ No) | |
|---|---|---|
| STATUTORY OBLIGATIONS | Adhering to the relevant governance, reporting and accountability requirements, duties and other legal obligations specified in the PGPA Act, APRA Act and other applicable legislation. | No |
| EXECUTIVE BOARD RESPONSIBILITIES | Achieving APRA’s statutory objectives, meeting the requirements in the Government’s Statement of Expectations and APRA’s Statement of Intent, and decisions made by APRA’s Executive Board including approval of APRA’s Corporate Plan, prudential policies / priorities and supervision model. | Yes, with all other members of APRA’s Executive Board. |
| Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct, across APRA. | ||
| RISK MANAGEMENT | Overseeing APRA’s risk framework, ExCo’s risk management, emerging strategic risks & out-of-tolerance risk. | Yes, with all other members of APRA’s Executive Board. |
| Overseeing the management, monitoring and mitigation of APRA’s risks, within agreed risk appetite and risk tolerances. | Yes, with all other members of APRA’s ExCo, the Chief Risk Officer and the Chief Internal Auditor. | |
| ORGANISATIONAL EFFECTIVENESS | Developing APRA’s Corporate Plan and approving major frameworks, policies, processes and infrastructure that support APRA’s organisational effectiveness (other than those approved by APRA’s Executive Board). | Yes, with all other members of APRA’s ExCo. |
| Establishing and driving APRA’s desired corporate culture. | ||
| CHAIR OF APRA’S SOC | Conducting meetings as Chair of APRA’s SOC, such that agenda items align with APRA’s vision, mission, strategic direction and operating requirements; and that meetings provide an environment that support constructive debate, discussion and challenge. | No |
| PRUDENTIAL SUPERVISION | Approving APRA’s supervision model and quality assurance framework prior to delegated approval by APRA’s Executive Board. Monitoring the risk profile of APRA’s regulated portfolio. | Yes, with all other members of APRA’s SOC. |
| PRUDENTIAL POLICY | Approving consultation packages and prudential policy (including prudential standards, regulations and guidance). Approving major internal policies and processes relevant to the development of prudential policy. | Yes, with all other members of APRA’s PPC. |
| Approving the issuance of consultation packages and other guidance or information. | Yes, with all other members of APRA’s PPC. | |
| Approving the issuance of final prudential policy. | Yes, with all other members of APRA’s PPC | |
| TALENT MANAGEMENT | Selecting, appointing and evaluating the performance of Executive Directors. Succession planning for critical roles in APRA including Executive Directors. | Yes, with all other members of APRA’s Executive Board. |
| Engaging with Government and the Parliament more broadly to pursue APRA’s objectives. Briefing the Government, through the Treasurer or other Ministers on APRA’s activities, operations, resourcing needs and other significant matters. | Yes, with all other members of APRA’s Executive Board. | |
| Ensuring open and constructive working relationships are established and maintained with peer regulatory agencies and industry bodies, both domestically and internationally. | ||
EXTERNAL REPRESENTATION
| Building APRA’s profile and reputation amongst external stakeholders ensuring APRA’s purpose, strategy and prudential policy is well understood. | Yes, with all other members of APRA’s Executive Board. |
| Fulfilling the role of APRA’s representative on respective domestic and international committees / forums, ensuring that APRA’s views and interests are appropriately conveyed and actively pursued. | No | |
| PROVISION OF INFORMATION | Providing accurate and timely information and advice (subject to APRA’s confidentiality obligations) to the Australian Parliament (including through Parliamentary Committees), the Auditor-General, the Commonwealth Ombudsman and Government Ministers. | No |
APRA Member - Suzanne Smith
Accountable person details
| Name | Suzanne Smith |
|---|---|
| Role title | APRA Member |
| Role start date | October 2022 |
| Reports to | APRA Chair, John Lonsdale |
| Last updated | June 2024 |
| Part or aspect of APRA’s operations of which the accountable person has actual or effective management or control | APRA Member, Suzanne Smith, (hereby referred to as APRA Member in this statement), is appointed by the Governor-General of the Commonwealth of Australia. The APRA Member leads the oversight of prudential regulation and supervision of Australia’s insurance industry, including general insurance, reinsurance companies, life insurers, private health insurers and friendly societies, and APRA’s policy direction striving to protect the financial well-being of Australians and improving outcomes for the Australian community. The APRA Member also has accountability for climate related matters. The APRA Member oversees APRA’s Technology and Data Division whose objectives include the efficient operation of information technology systems to support the organisation, and the ability to deliver on APRA’s mandate of being the data collection agency for the financial sector and assist peer agencies to perform their functions or exercise their powers. The APRA Member also oversees APRA’s Enterprise Services function in the Chief of Staff and Enterprise Services Division whose objectives are to maintain robust and efficient business support; transparent and accountable practices; secure and reliable premises and systems; and a highly skilled and engaged workforce. The APRA Member together with the Executive Board also oversees delivery of APRA’s key strategic initiatives. |
| APRA committees / groups | Chair of APRA’s Inclusion and Diversity Council. Member of APRA’s Executive Board, Executive Committee (ExCo), Prudential Policy Committee (PPC) and Resolution and Enforcement Committee (REC). |
| External Committee Representation | International Association of Insurance Supervisors. |
Accountabilities
| Description of accountability | Joint? (Yes/No) | |
|---|---|---|
| STATUTORY OBLIGATIONS | Adhering to the relevant governance, reporting and accountability requirements, duties and other legal obligations specified in the PGPA Act, APRA Act and other applicable legislation. | No |
| EXECUTIVE BOARD RESPONSIBILITIES | Achieving APRA’s statutory objectives, meeting the requirements in the Government’s Statement of Expectations and APRA’s Statement of Intent, and decisions made by APRA’s Executive Board including approval of APRA's Corporate Plan, prudential policies / priorities and supervision model. | Yes, with all other members of APRA’s Executive Board. |
| Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct, across APRA. | ||
| RISK MANAGEMENT | Overseeing APRA’s risk framework, ExCo’s risk management, emerging strategic risks and out-of-tolerance risk. | Yes, with all other members of APRA’s Executive Board. |
| Overseeing the management, monitoring and mitigation of APRA’s risks, within agreed risk appetite and risk tolerances. | Yes, with all other members of APRA’s ExCo, the Chief Risk Officer, and the Chief Internal Auditor. | |
| ORGANISATIONAL EFFECTIVENESS | Developing APRA’s Corporate Plan and approving major frameworks, policies, processes and infrastructure that support APRA’s organisational effectiveness (other than those approved by APRA’s Executive Board). | Yes, with all other members of APRA’s ExCo. |
| Establishing and driving APRA’s desired corporate culture. | ||
| Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct, across APRA. | ||
| INCLUSION & DIVERSITY | Chair of APRA’s Inclusion and Diversity Council (IDC). Developing and overseeing APRA’s inclusion and diversity strategy, and assisting in creating an inclusive and diverse workplace and improve organisational effectiveness. Conducting meetings as Chair of the IDC, such that agenda items align with APRA’s vision, mission, strategic direction and operating requirements; and that meetings provide an environment that support constructive debate, discussion and challenge. | No |
| RESOLUTION AND ENFORCEMENT | Approving major internal policies and processes relevant to resolution and enforcement and advising delegated decision makers on the use of APRA’s enforcement powers. | Yes, with all other members of APRA’s REC. |
| PRUDENTIAL POLICY | Endorsing consultation packages and prudential policy (including prudential standards, regulations and guidance). Approving major internal policies and processes relevant to the development of prudential policy. | Yes, with all other members of APRA’s PPC. |
| Approving the issuance of consultation packages and other guidance or information. | Yes, with all other members of APRA’s PPC. | |
| Approving the issuance of final prudential policy. | Yes, with all other members of APRA’s PPC. | |
| TALENT MANAGEMENT | Selecting, appointing and evaluating the performance of Executive Directors. Succession planning for critical roles in APRA including Executive Directors.
| Yes, with all other members of APRA’s Executive Board. |
GOVERNMENT AND REGULATORY COOPERATION
| Engaging with Government and the Parliament more broadly to pursue APRA’s objectives. Briefing the Government, through the Treasurer or other Ministers on APRA’s activities, operations, resourcing needs and other significant matters. |
Yes, with all other members of APRA’s Executive Board. |
| Ensuring open and constructive working relationships are established and maintained with peer regulatory agencies and industry bodies, both domestically and internationally. | ||
EXTERNAL REPRESENTATION
| Building APRA’s profile and reputation amongst external stakeholders ensuring APRA’s purpose, strategy and prudential policy is well understood. | Yes, with all other members of APRA’s Executive Board. |
| Fulfilling the role of APRA’s representative on respective domestic and international committees / forums, ensuring that APRA’s views and interests are appropriately conveyed and actively pursued. | No | |
| PROVISION OF INFORMATION | Providing accurate and timely information and advice (subject to APRA’s confidentiality obligations) to the Australian Parliament (including through Parliamentary Committees), the Auditor-General, the Commonwealth Ombudsman and Government Ministers. | No |
Chief of Staff and Operations - Jane Magill
Accountable person details
| Name | Jane Magill |
|---|---|
| Role title | Chief of Staff and Operations |
| Role start date | May 2023 |
| Reports to | APRA Chair, John Lonsdale |
| Last updated | June 2024 |
| Part or aspect of APRA’s operations of which the accountable person has actual or effective management or control | The Chief of Staff and Operations (COSO) is accountable for providing strategic advice and support to the APRA Members to assist them to effectively fulfil their accountabilities. The COSO supports the APRA Members on strategic priorities and managing significant emerging issues. The COSO is accountable for ensuring that the Executive Leadership Team works together to implement the Corporate Plan and ensure that emerging issues are appropriately prioritised and managed. The COSO oversees APRA’s internal governance arrangements; preparation of the Corporate Plan; and the strategic management of APRA’s relationships with the media, domestic agencies and departments, international counterparts and the Government via the leadership of the Strategy and Governance, Regulatory Affairs and Corporate Affairs functions. The COSO also has senior executive responsibility for the leadership, management and control of business support functions, which include: APRA’s Finance, Procurement, Property & Facilities Management; People and Culture; Performance & Management Reporting; and Project & Portfolio Management functions. The objectives of these functions are to maintain robust and efficient business support; transparent and accountable practices; secure and reliable premises; and a highly skilled and engaged workforce, supported by strong leaders, within a values-aligned corporate culture. |
| APRA committees / groups | Member of APRA’s Executive Committee (ExCo) and Inclusion and Diversity Council. |
Accountabilities
| Description of accountability | Joint (Yes/No) | |
|---|---|---|
| ORGANISATIONAL EFFECTIVENESS | Developing APRA’s Corporate Plan and approving policies, processes and infrastructure that support APRA’s organisational effectiveness (other than those approved by APRA’s Executive Board). | Yes, with all other members of APRA’s ExCo. |
| Working with APRA’s ExCo to establish and drive APRA’s desired corporate culture and Inclusion & Diversity strategy. | ||
| RISK MANAGEMENT | Overseeing the management, monitoring and mitigation of APRA’s risks, within agreed risk appetite and risk tolerances. | Yes, with all other members of APRA’s ExCo and the Chief Risk Officer and the Chief Internal Auditor. |
| Ensuring that the APRA Members are informed of their compliance obligations and providing advice about reasonable steps that could be taken to meet these obligations. | Yes, with the Chief Risk Officer. | |
| STRATEGY | Driving execution and implementation of APRA’s Corporate Plan. Oversight of the Strategy development and governance framework. | Yes, with all APRA Executive Directors. |
| Delivering components of APRA’s Corporate Plan where approved by APRA’s Executive Committee as an ‘accountable owner’. | Yes, where individual or joint accountability is allocated. | |
| Developing and executing the Chief of Staff and Enterprise Services Divisional Plan. | No | |
| REGULATORY AFFAIRS | Ensuring strategic and effective management of APRA’s engagement with domestic agencies and departments; international stakeholders; and the Government and Parliament more broadly. | No |
| Ensuring that the broader organisation is aware of developments in the external environment with respect to domestic and international stakeholders (including peer agencies, departments, Government and the Parliament). | No | |
| Ensuring the strategic and effective management of APRA’s appearances in front of Parliamentary Committees and responses to enquiries made by Committees (including submissions and Questions on Notice). | No | |
| CORPORATE AFFAIRS | Ensuring effective management of APRA’s relationship with the public and media, which is underpinned by the distribution of timely and accurate information through channels such as media releases and speeches. | No |
| Maintaining and managing APRA’s brand and internal communications as well as ensuring that the broader organisation is aware of key developments in the external environment. | No | |
| GOVERNANCE | Ensuring APRA’s governance arrangements, including the Executive Committee, Executive Board and the Audit and Risk Committee are operating effectively. | No |
| Working with other Executive Directors, ensuring that APRA’s response to unforeseen events that pose a significant systemic risk to the financial system, risk to the operational resilience of APRA, and reputational risk, is co-ordinated and supported by appropriate governance. | Yes | |
| Provide strategic advice to Members to enable them to effectively discharge their personal statutory and other obligations in their capacity as Members. | No | |
| STRATEGY DEVELOPMENT | Providing support to the APRA members to develop, review and approve the Corporate Plan. Ensuring accountability is allocated to a responsible Executive Director(s) to deliver components of the Corporate Plan. | No |
| Ensuring cohesion and alignment between the Corporate Plan and industry strategies. | No | |
| ENTERPRISE SERVICES | Maintaining APRA’s frameworks / methodologies / policies relating to the following areas and ensuring they remain fit for purpose and are embedded through supporting systems, processes and controls: Project and portfolio management; Program / project and change delivery; Management and performance reporting; Financial management; People and culture; Procurement, property and facilities management; and Business support and information governance. | No |
| FINANCIAL OVERSIGHT AND CONTROL | Managing APRA’s financial resources including, financial control and transparency, management reporting and analysis, statutory reporting and tax matters, in line with the Chair’s Finance Instructions. | No |
| Recommending Budget allocations for approval by APRA’s Executive Board and providing advice on budget proposals prior to / at respective governance committees. | ||
| Exercising financial approvals and Budget allocations within delegation and ensure appropriate reporting to APRA’s Executive Board. | ||
| Recommending APRA’s Budget estimates and financial accounts for endorsement by APRA’s Audit and Risk Committee (ARC), approval by APRA’s Executive Board and sign off by APRA’s Accountable Authority. | ||
| DIVISIONAL MANAGEMENT | Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct. | No |
| Ensuring all decisions made are in accordance with applicable legislation and internal frameworks (including delegated authority). | No | |
| Maintaining an up-to-date Business Continuity Plan for APRA’s Chief of Staff and Enterprise Services Division. | No | |
| Escalating matters of significance to the relevant APRA Member(s) for notification and advice where needed. | No | |
| Ensuring appropriate systems, processes and controls are in place to support delivery of APRA’s Chief of Staff and Enterprise Services Division accountabilities | No | |
| Ensuring appropriate succession planning is in place for key roles in APRA’s Chief of Staff and Enterprise Services Division. | No | |
Executive Director Cross-Industry Division - Chris Gower
Accountable person details
| Name | Chris Gower |
|---|---|
| Role title | Executive Director Cross-Industry Division |
| Role start date | 1 January 2024 |
| Reports to | Member Therese McCarthy Hockey |
| Last updated | June 2024 |
| Part or aspect of APRA’s operations of which the accountable person has actual or effective management or control | The Executive Director Cross-Industry Division has senior executive responsibility for the leadership, management and control of: Macro and Industry insights; Operational Resilience; the Governance, Culture, Remuneration and Accountability (GCRA) cross-industry specialist functions as well as the Supervision Approach and Innovation function. The Cross-Industry Division has responsibility for providing relevant insights to the Technology and Data division to inform APRA’s strategic initiative on enabling data-driven decision-making. |
| APRA committees / groups | Member of APRA’s Executive Committee (ExCo), Prudential Policy Committee (PPC) and Supervision Oversight Committee (SOC). |
Accountabilities
| Description of accountability | Joint (Yes/ No) | |
|---|---|---|
| ORGANISATIONAL EFFECTIVENESS | Developing APRA’s Corporate Plan and approving major frameworks, policies, processes and infrastructure that support APRA’s organisational effectiveness (other than those approved by APRA’s Executive Board). | Yes, with all other members of APRA’s ExCo.
|
| Establishing and driving APRA’s desired corporate culture, including its Inclusion and Diversity strategy. | ||
| RISK MANAGEMENT | Overseeing the management, monitoring and mitigation of APRA’s risks, within agreed risk appetite and risk tolerances. | Yes, with all other members of APRA’s ExCo, the Chief Risk Officer and the Chief Internal Auditor. |
| PRUDENTIAL SUPERVISION | Endorsing APRA’s supervision model and supervision assurance framework prior to delegated approval by APRA’s Executive Board. Monitoring the risk profile of APRA’s regulated portfolio. | Yes, with all other members of APRA’s SOC. |
| PRUDENTIAL POLICY | Endorsing consultation packages and prudential policy (including prudential standards, regulations and guidance). Approving major internal policies and processes relevant to the development of prudential policy. | Yes, with all other members of APRA’s PPC. |
| Approving the issuance of consultation packages, and other interpretive guidance. | Yes, with all other members of APRA’s PPC. | |
| CROSS-INDUSTRY DIVISION | Provision of specialist risk advice, forward looking analytics and other intelligence to drive risk based supervisory judgements and strategic decisions. This includes:
| No |
| Advising and escalating material cross-industry risks which may impact APRA’s statutory objectives to APRA’s ExCo, Audit and Risk Committee and Executive Board. | No | |
| MACRO AND INDUSTRY INSIGHTS | Enhance APRA’s management of financial stability through analysis of macroeconomic, systemic and industry risks and making recommendations for supervisory responses and macroprudential measures. Deliver regular macro and industry insights, publications and share those insights with the Chief of Staff division and other CFR agencies as required. | No |
| OPERATIONAL RESILIENCE | Reinforce effective management of financial and non-financial risks within APRA regulated entities. In collaboration with frontline supervisors and other government agencies, lead the strategic uplift of Operational Resilience across APRA’s regulated entities, (incl. Cyber and Climate Risk), | No |
| GOVERNANCE, CULTURE REMUNERATION & ACCOUNTABILITY | Reinforce effective management of financial and non-financial risks within APRA regulated entities. Collaborate with supervisors to transform governance, culture, remuneration and accountability of APRA’s regulated entities. | No |
| SUPERVISION APPROACH & SYSTEMS | Oversee the Supervision Approach & Innovation (SAI) team that has responsibility for APRA’s supervisory framework. This includes:
Maintain APRA’s Supervision Risk & Intensity model, APRA’s supervisory systems and support all guidance and training material. | No |
STRATEGY | Driving execution and implementation of APRA’s Corporate Plan. | Yes, with all APRA Executive Directors. |
| Delivering components of APRA’s Corporate Plan where approved by APRA’s Executive Committee as an ‘accountable owner’. | Yes, where joint accountability is allocated. | |
| Developing and executing the Cross-Industry Divisional Plan. | No | |
DIVISIONAL MANAGEMENT | Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct. | No |
| Ensuring all decisions made are in accordance with applicable legislation and internal frameworks (including delegated authority). | No | |
| Ensuring appropriate systems, processes and controls are in place to support delivery of APRA’s Cross-Industry Divisional initiatives and operations. | No | |
| Ensuring that the selection, appointment and performance evaluation of employees within APRA’s Cross-Industry Division is in line with internal policies. | No | |
| Ensuring appropriate succession plans are in place for key roles in APRA’s Cross-Industry Division. | No | |
| Managing the Cross-Industry Division’s expenditure in line with the budget approved by APRA’s Executive Board and internal policies and procedures. | No | |
| Identifying and managing divisional risks (and enterprise risks, where relevant), controls and compliance obligations within APRA’s Cross-Industry Division in accordance with APRA’s risk management framework ensuring appropriate action plans are in place to remediate actual or potential breaches or non-compliance. | No | |
| Maintaining an up to date Business Continuity Plan for APRA’s Cross-Industry Division. | No | |
| Escalating matters of significance to the relevant APRA Member(s) for notification and advice where needed. | No | |
Executive Director Banking (Acting) - Peter Diamond
Accountable person details
| Name | Peter Diamond |
|---|---|
| Role title | Executive Director Banking |
| Role start date | June 2024 |
| Reports to | APRA Member, Therese McCarthy Hockey |
| Last updated | June 2024 |
| Part or aspect of APRA’s operations which the accountable person has actual or effective management or control | The Executive Director Banking has senior executive responsibility for the leadership, management and control of APRA’s Banking Division. The Executive Director of Banking is responsible for implementation of legislative requirements and prudential policy which applies to entities authorised to carry on banking business under the Banking Act 1959; supervision of these entities in accordance with the supervisory framework and strategies; and responding to significant entity and industry issues as they emerge. |
| APRA committees / groups | Member of APRA’s Executive Committee (ExCo), Prudential Policy Committee, and Supervision Oversight Committee. |
| External committee representation | TBC |
Accountabilities
| Description of accountability | Joint? (Yes/No) | |
|---|---|---|
| ORGANISATIONAL EFFECTIVENESS | Developing APRA’s Corporate Plan and approving major frameworks, policies, processes and infrastructure that support APRA’s organisational effectiveness (other than those approved by APRA’s Executive Board). | Yes, with all other members of APRA’s ExCo. |
| Establishing and driving APRA’s desired corporate culture, including its Inclusion and Diversity strategy. | ||
| RISK MANAGEMENT | Overseeing the management, monitoring and mitigation of APRA’s risks, within agreed risk appetite and risk tolerances. | Yes, with all other members of APRA’s ExCo, the Chief Risk Officer and the Chief Internal Auditor. |
| PRUDENTIAL SUPERVISION | Endorsing APRA’s supervision model, industry strategies and assurance framework prior to delegated approval by APRA’s Executive Board. Approving major internal policies and processes relevant to prudential supervision. Monitoring the risk profile of APRA’s regulated portfolio. | Yes, with all other members of APRA’s Supervision Oversight Committee. |
| PRUDENTIAL SUPERVISION OF BANKING | Applying APRA’s supervision model and adhering to APRA’s sign off protocols and delegations framework for the prudential supervision of all ADIs | No |
| Approving (or rejecting) new licence applicants relevant to the Banking Division in accordance with APRA’s Licensing Guidelines and relevant delegations. | No | |
| Determining supervisory actions to address major risks within ADIs including consideration of enforcement actions or proceedings, escalating where appropriate, and seeking advice from APRA’s Resolution and Enforcement Committee (REC). | No | |
| PROJECTS | Sponsoring projects and programmes relevant to the Banking Division and delivering on outcomes. | No |
| STRATEGY | Driving execution and implementation of APRA’s Corporate Plan. | Yes, with all other APRA Executive Directors. |
| Delivering components of APRA’s Corporate Plan where approved by APRA’s Executive Committee as an ‘accountable owner’. | Yes, where joint accountability is allocated. | |
| Developing and executing the Banking Divisional Plan. | No | |
| DIVISIONAL MANAGEMENT | Ensuring understanding of and adherence to standards of personal and professional behaviour, ethical behaviour and APRA’s values, as outlined in APRA’s Code of Conduct. | No |
| Ensuring all decisions made are in accordance with applicable legislation and internal frameworks (including delegated authority). | No | |
| Ensuring appropriate systems, processes and controls are in place to support delivery of APRA’s Banking divisional initiatives and operations. | No | |
| Ensuring that the selection, appointment and performance evaluation of employees within APRA’s Banking Division is in line with internal policies. | No | |
| Ensuring appropriate succession plans are in place for key roles in APRA’s Banking Division. | No | |
| Managing the Banking Division’s expenditure in line with the budget approved by APRA’s Executive Board and internal policies and procedures. | No | |
| Identifying and managing divisional risks (and enterprise risks, where relevant), controls and compliance obligations within APRA’s Banking Division in accordance with APRA’s risk management framework ensuring appropriate action plans are in place to remediate actual or potential breaches or non-compliance. | No | |
| Maintaining an up to date Business Continuity Plan for APRA’s Banking Division. | No | |
| Escalating matters of significance to the relevant APRA Member(s) for notification and advice where needed. | No | |